The U.S. Department of Energy Monday conditionally committed $7.54 billion to finance two electric vehicle facilities in Kokomo as part of an effort to bolster American EV battery manufacturing and reduce reliance on foreign sources.
The federal financial commitment to large-scale lithium-ion battery production will “ensure the United States can meet domestic demand and remain a global leader in the rapidly expanding EV industry,” according to a news release from the DOE.
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