American Battery Solutions (ABS) has received a conditional commitment from the DOE’s Loan Programs Office (LPO) by way of a $165.9 million loan to help support light, medium, and heavy-duty EVs and industrial equipment applications at its Ohio and Michigan locations.
The funding will go towards expanding an advanced battery pack assembly facility, which includes the construction of four high-voltage (HV) and four low-voltage (LV) battery pack assembly lines. Other plans include upgrading existing battery cell testing and quality control equipment.
If finalized, the loan will help enable 4.2 GWh’ worth of lithium-ion battery packs to operate at full capacity by 2026, amounting to a production capacity that would support enough EVs to displace around 71,000 metric tons of CO2 emissions each year from gas-powered vehicles.
The project is a part of the Biden Administration’s Investing in America agenda, which seeks to on-shore and re-shore domestic manufacturing technologies. Its goal is to better position the U.S. as a manufacturer of clean energy tech and reduce reliance on Chinese imports.
The project would create or support 460 operations jobs in Springsboro, Ohio, and Lake Orion, Michigan, as well as the surrounding communities.
Read more at Energy.gov.