U.S. finalizes $102.1 million loan to Syrah Resources for...

U.S. finalizes $102.1 million loan to Syrah Resources for Louisiana plant

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This is the first loan from the Advanced Technology Vehicles Manufacturing (ATVM) Loan Program finalized since 2011.


Electric vehicle charging

BLOOMBERG

On average, executives said they expected 52 percent of all new vehicles sold in the U.S., China and Japan to be electric by 2030.

WASHINGTON — The U.S. Energy Department said Wednesday it had closed a $102.1 million loan to Syrah Technologies LLC SYR.AX for the expansion of a Louisiana facility that produces graphite-based active anode material — a key component for lithium-ion batteries for electric vehicles.

This is first loan from the Advanced Technology Vehicles Manufacturing (ATVM) Loan Program finalized since 2011, and the first ATVM loan exclusively for an automotive supply chain manufacturing project.

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