U.S. Preps $2.5 Billion for GM Electric Vehicle Battery Venture With LG

With the United States having successfully passed the Inflation Reduction Act over the summer, the financial floodgates have been opened for battery suppliers. Despite often being framed as a massive infrastructure package that would also help tamp down U.S. inflation, the bill also included numerous items from the Biden administration’s climate agenda setting aside billions for industries vowing to go green. This includes the joint venture between General Motors and LG Energy Solution – which will receive $2.5 billion in loans to build three new lithium-ion battery factories.

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  • ToolGuy I am NOT SURE WHAT TO SAY. In fact I'M NOT EVEN SURE WHAT I JUST READ. I paid a premium for my last cordless drill/driver because it has a hydraulic front end which PRODUCES LESS NOISE AND VIBRATION.
  • ToolGuy Tim, THANK YOU FOR THE ALL CAPS. I think it ADDS A LOT to the discussion. I might USE it MYSELF in the future. Have a GREAT WEEKEND.
  • Kars I think it depends somewhat on the car you buy. For a Mustang GT I would want the real ones, for a Toyota Corolla it wouldn't matter.
  • Bkojote Yes. Two things. First off, Elon, like Trump, is kinda stupid. Like Kanye West or Candace Owens or Ben Shapiro, he's got like an 8th grade education and sits right on that first dunning-kruger hump. But the thing about *kinda* stupid is he *kinda* realizes the only way anyone will subscribe to his personality is by being a contrarian. The other is by buying in to the scam the other is running. Tesla's a two product company with aging product lines and false launches. But while Elon's kinda stupid, he's not fully stupid, and he knows enough to continue with the scam - large scale support for the EV industry only serves to depress Tesla's product value, so if it can win favor against the odds of say, Rivian or Lucid, he can continue to pay himself a few dozen-billion dollar bonuses till he sells it off or shuts it down.
  • ToolGuy Perhaps a Chinese company will purchase Volvo.