US finalises $9.63b loan for Ford, SK On battery JV

US finalises $9.63b loan for Ford, SK On battery JV

Ford cars are displayed at the 39 Thailand International Motor Expo, in Bangkok, Thailand, November 30, 2022. REUTERS/Athit Perawongmetha/File Photo

The U.S. Energy Department on Monday said it has finalized a $9.63 billion loan to a joint venture of Ford Motor and South Korean battery maker SK On to help finance construction of three new battery manufacturing plants in Tennessee and Kentucky.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter