The U.S. Energy Department on Monday announced it intends to loan a joint venture of General Motors Co (GM.N) and LG Energy Solution (373220.KS) $2.5 billion to help finance construction of new lithium-ion battery cell manufacturing facilities.
https://www.reuters.com/business/autos-transportation/exclus…
People writing that that banks may be cautious because GM has proven to be incompetent. Government steps in for those good paying union jobs.
I was told that when they did it for Tesla years ago the terms were so bad Tesla took a penalty and paid it off early.