"The Energy Department announced Wednesday that it will give a $102 million loan to expand a processing facility for materials used in electric vehicle batteries.
The facility, owned by Syrah Technologies in Vidalia, La., is a major manufacturer of a material used in lithium-ion batteries used in electric vehicles and other clean-energy technologies.
In a conditional approval from April, the Energy Department said that the loan could give the facility enough capacity to produce about 2.5 million electric vehicles by 2040, saving 970 million gallons of gasoline.
The department said that the project is expected to create 150 jobs in construction and 98 jobs in operations."
The Energy Department’s “investment in Syrah Vidalia builds on President Biden’s goals to secure our clean transportation future and grow the United States’ electric vehicle and advanced battery manufacturing workforce,” Energy Secretary Jennifer Granholm said in a statement."
Rachel Frazin reports for The Hill July 27, 2022.
Advertisement 
