Ford's Joint Venture With SK On Obtains $9.63 Billion US Energy Department Loan

MT Newswires17minutes ago

The USA provided over $9.6 billion in loans to the joint Battery factory of Ford (F.US) and SK On.

The US Department of Energy announced on Monday that it has finalized a $9.63 billion loan to fund the joint venture between Ford Motor (F.US) and South Korean battery manufacturer SK On to build three new Battery manufacturing plants in Tennessee and Kentucky. This joint venture has so far invested over $11 billion in constructing three factories totaling 4 million square feet, with plans to start production at the first factory in Kentucky in 2025 and to begin production in Tennessee by the end of 2025.

AASTOCKS34minutes ago

Ford Losing Traction to Rivals, Downgraded at Jefferies to Underperform

Seeking Alpha22:04

Trump Transition Team Looking to Rollback Biden's EV, Emissions Policies, Reuters Reports

MT Newswires21:56

Here's Why Ford's Why Stock Could Continue Lagging GM's Stock

MarketWatch21:40

Report: Trump's transition team will revoke Biden's electric vehicle and emissions policies.

According to Reuters, the transition team's plan includes eliminating the Consumer tax credit for Electric Autos purchases, imposing tariffs on all Battery materials globally, and withdrawing Biden's support for Electric Autos and charging infrastructure.

wallstreetcn21:38