A total of $1.8B has been disbursed to date to Ultium Cells LLC, and will be repaid in full, plus interest, close to seven years early.
May 13, 2025
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WASHINGTON – The U.S. Department of Energy (DOE) today accepted an early repayment of a loan to Ultium Cells. Ultium Cells LLC, a joint venture between General Motors and LG Energy Solution, utilized $1.8B in funds to help finance the construction of new lithium-ion battery cell manufacturing facilities in Ohio and Tennessee.
The December 2022 closed Ultium loan was LPO’s first loan exclusively for a battery cell manufacturing project under the Advanced Technology Vehicles Manufacturing (ATVM) program. A total of $1.8B has been disbursed to date, and will be repaid in full, plus interest, close to seven years early.
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