- Phillies win thriller to level Mets series
- Yu bags first PGA Tour win with playoff win
- PSG held by Nice to leave Monaco clear at top of Ligue 1
- Lewandowski treble for leaders Barca as Atletico held
- Fresh Israeli strikes hit south Beirut
- Sucic stunner earns Real Sociedad draw against Atletico
- PSG draw with Nice, fail to reclaim top spot in Ligue 1
- Gudmundsson downs AC Milan after De Gea's penalty heroics for Fiorentina
- 'Yes' vote prevails in Kazakhstan nuclear plant vote: TV
- 'Difficult day': Oct 7 commemorations begin with festival memorial
- Commemorations begin for anniversary of attack on Israel
- 'Nothing gets in way of team,' says Celtics' MVP hopeful Tatum
- 'We will win!': Mozambique's ruling party confident at final vote rally
- Tunisia voting ends as Saied eyes re-election with critics behind bars
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- Man Utd stalemate keeps Ten Hag in danger, Spurs rocked by Brighton
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- West Indies cruise to T20 World Cup win over Scotland
- Man Utd fire another blank in Aston Villa stalemate
- Lewandowski treble powers Liga leaders Barca to Alaves victory
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- Openda strike briefly sends Leipzig top of Bundesliga
- Goal-shy Man Utd have to 'step up', says Ten Hag
- India bowl out Bangladesh for 127 in T20 opener
- Madueke rescues Chelsea in draw with 10-man Forest
- Beckett's belief rewarded as Bluestocking storms to Arc glory
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- Kaur leads India to victory over Pakistan in Women's T20 World Cup
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- India restrict Pakistan to 105-8 in Women's T20 World Cup
- England target repeat of Pakistan Test whitewash
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- Tunisia votes with Saied set for re-election
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- Mozambique vote: no suspense but some disillusion
Ford-backed electric battery venture approved for $9.2bn US loan
A Ford joint venture to build three new electric vehicle battery plants is set to receive up to $9.2 billion in US federal loans under a program backed by President Joe Biden, officials announced Thursday.
The US Department of Energy announced a "conditional commitment for a loan" to BlueOval SK, a joint venture between Ford Motor and SK On, a South Korean battery manufacturer, to build the new plants in the southern states of Tennessee and Kentucky.
Biden has supported heavy public investment in such initiatives to address climate change and bolster US manufacturing.
Electricity from batteries produced at the plants will replace more than 455 million gallons of gasoline over the lifetime of the vehicles, said the agency's press release.
The projects will create 5,000 construction jobs and 7,500 operations positions once the plants are up and running, the agency said.
The Department of Energy's conditional commitment follows a due diligence process in which the agency brought in outside experts to review the application and develop a term sheet.
The final loan depends on the party meeting additional conditions, such as receiving approvals from local authorities, according to the agency.
In the case of the BlueOval project, the White House is demanding robust labor agreements and support for the Biden administration's "Justice40 Initiative," which requires that 40 percent of overall benefits go to disadvantaged communities, the press release said.
The Tennessee site is located in a disadvantaged community as are communities surrounding both Kentucky sites, the agency said.
A.Motta--PC