Clean Energy Projects Surge After Climate Bill Passage
Investments in battery factories, solar panel manufacturing and mining will help the Biden administration meet targets for reducing greenhouse gases.
Honda and LG will jointly build a U.S. battery plant.
The announcement comes as the auto industry ramps up its efforts to switch to electric vehicles.
Energy Department will lend G.M. and LG $2.5 billion to build battery factories.
The loan will help the automaker and its supplier build electric vehicle battery factories in Ohio, Tennessee and Michigan.
Ford increases its battery supply to meet its electric-vehicle goals.
The automaker said it had reached deals to acquire more battery packs in its push to produce 600,000 electric vehicles a year by the end of 2023.
Stellantis, maker of Chryslers and Jeeps, and LG will spend $4 billion on a new battery factory in Ontario.
The automaker, which was created by the merger of Fiat Chrysler and Peugeot, has lagged in the fast-growing market for electric cars.