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Energy Dept. backs $2.5B loan to GM venture for EV batteries

FILE - People visit LG Energy Solution Ltd's booth during the InterBattery 2021, the country's leading battery exhibition, at COEX in Seoul, South Korea, , June 9, 2021. A joint venture between General Motors and South Korean battery company LG Energy Solution is set to receive a $2.5 billion loan from the Energy Department to build battery cell factories for electric vehicles in three states. (AP Photo/Ahn Young-joon, File) FILE - A sign at a General Motors facility, Oct. 16, 2019, in Langhorne, Pa. A joint venture between General Motors and South Korean battery company LG Energy Solution is set to receive a $2.5 billion loan from the Energy Department to build battery cell factories for electric vehicles in three states. T(AP Photo/Matt Rourke, File)