GM and LG battery joint venture earmarked for $2.5B DOE loan

Ultium Cells, a joint venture between General Motors and LG Energy Solution, received conditional approval on Monday for a $2.5 billion loan from the Department of Energy to help fund the construction of three battery plants in the U.S. The plants will be in Warren, Ohio, Spring Hill, Tennessee, and Lansing, Michigan, with job creation expected to…