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

The DOE has offered American Battery Solutions (ABS) a $165.9-million loan under the Advanced Technology Vehicles Manufacturing (ATVM) Loan Program. 

The company plans to use the funds to expand its battery pack assembly facilities in Springboro, Ohio and Lake Orion, Michigan.

The project will support the company’s goal of delivering standardized and customized battery packs for various battery market segments. Applications in high-voltage market segments include electrified fleet and commercial vehicles and other EVs. Low-voltage market segments include low-speed EVs and industrial equipment, as well as auxiliary batteries for EVs. ABS has customers and offtake agreements in both market segments.

Source: US Department of Energy