The DOE program will provide $6.85 billion in principal and $688 million in capitalized interest. The project will create 3,200 construction jobs and 2,800 manufacturing jobs, as well as hundreds of additional jobs at the nearby supplier park.
The Kokomo facilities are expected to produce 67 GWh of batteries per year, capable of powering approximately 670,000 electric vehicles at full capacity. However, the project has a limited time frame. Final approval must be obtained before the possible inauguration of Donald Trump, who wants to end EV financing initiated by Joe Biden.
Source: Ferra
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