US Offers $710M for EV Tech Projects

by Mayniaga

The U.S. Energy Department provisionally approves $710 million in loans for electric vehicle (EV) technology projects,

with $221.8 billion remaining for clean-energy initiatives.

boosting production of silicon carbide wafers crucial for EV drivetrains.

SK Siltron CSS, a South Korean company, is slated to receive $544 million to expand its Michigan plant,

contributing to a resilient domestic semiconductor supply chain, according to SK Siltron CSS CEO Jianwei Dong.

The expansion could generate about 200 jobs in construction and production,

potentially creating 460 jobs across facilities in Ohio and Michigan.

American Battery Solutions secures conditional approval for a $165.9 million loan to expand EV battery pack assembly operations,

including those related to critical minerals essential for batteries and electronics.

Despite a slowdown in clean technology investment in 2023, the U.S. Energy Department remains committed to supporting strategic projects,

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