Ultium Cells Lands $2.5 Billion Federal Loan to Build Three Factories

URLhttps://www.industryweek.com/leadership/growth-str
SourceIndustry Week
Date Published12/12/2022
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name Ultium Cells LLC
Type of work Manufacturing
Reshoring category:Reshoring
Total number of jobs (added or to be added):11000
Year reshoring announced:2022
City reshored to:Lordstown
State(s) reshored to:OH
If relevant, work nearshored to:-
Industry(ies):Electrical Equipment, Appliances & Components
Product(s) reshoredbattery
What domestic positive factors made reshoring more attractive?Eco-system synergies, Government Incentives, Lead time/Time to market
Government Incentive dollar amount:$2.5 billion loan from the Department of Energy
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