Ford, SK Innovation Unit Joint Venture Set To Receive $9.2B Government Loan For Battery Plants In Kentucky, Tennessee
Portfolio Pulse from Benzinga Newsdesk
Ford and SK Innovation's joint venture, BlueOvalSK, is set to receive a $9.2 billion government loan for battery plants in Kentucky and Tennessee, according to the Energy Department.

June 22, 2023 | 12:17 pm
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Ford's joint venture with SK Innovation, BlueOvalSK, will receive a $9.2 billion government loan for battery plants, potentially boosting Ford's EV production.
The $9.2 billion government loan for BlueOvalSK's battery plants will likely have a positive impact on Ford's stock price in the short term. The loan will help finance the construction of battery plants in Kentucky and Tennessee, which will support Ford's electric vehicle production. This news demonstrates the government's support for Ford's EV initiatives and may attract investors who are interested in the growing EV market.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100