Charged EVs | American Battery Solutions wins $166-million DOE loan to expand Ohio and Michigan EV battery plants

The DOE has provided American Battery Options (ABS) a $165.9-million mortgage below the Superior Know-how Autos Manufacturing (ATVM) Mortgage Program. 

The corporate plans to make use of the funds to broaden its battery pack meeting amenities in Springboro, Ohio and Lake Orion, Michigan.

The undertaking will assist the corporate’s aim of delivering standardized and customised battery packs for numerous battery market segments. Functions in high-voltage market segments embody electrified fleet and industrial autos and different EVs. Low-voltage market segments embody low-speed EVs and industrial gear, in addition to auxiliary batteries for EVs. ABS has clients and offtake agreements in each market segments.

Supply: US Department of Energy



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