DOE to lend $2B for Redwood battery plant

Loan will support US plant capable of producing EV battery materials at the giga-scale.

Toward the White House's goal of zero-emission vehicles making up half of all car sales in the U.S. by 2030, the U.S. Department of Energy has conditionally committed to lend $2 billion to Redwood Materials Inc. to support the expansion and construction of a battery recycling and manufacturing complex in Nevada...