"The Biden administration on Thursday announced that it would issue a $2 billion loan to a battery manufacturing facility as it looks to bolster the country’s supply chain for electric vehicles.

“The Department of Energy is proud to announce a conditional commitment for a $2 billion loan to Redwood Materials,” Energy Secretary Jennifer Granholm said on Thursday during a press conference.

“If finalized, this $2 billion loan is going to help Redwood to complete this project to produce critical components for EV batteries.”"

Rachel Frazin reports for The Hill February 9, 2023. [2]