Together, the plants, one located in Tennessee and two in Kentucky, would enable more than 120 gigawatt hours of USbattery production annually. The three facilities created more than 5,000 construction jobs as the plants were being built and will create up to 7,500 BOSK operations jobs. The announcement marks the largest loan granted through DOE’s Advanced Technology Vehicles Manufacturing Program (ATVM).
BOSK is a joint venture between Ford Motor Company (Ford) and SK On, a world leading Korean EV battery manufacturer. BOSK was created to supply Ford with batteries for its growing EV product line.
LPO borrowers are required to develop and ultimately implement a comprehensive Community Benefits Plan (CBP). As a part of their CBP, BlueOval SK has partnered with Tennessee College of Applied Technology through the state of Tennessee and Elizabethtown Community and Technical College in the state of Kentucky to construct new community and technical colleges that are training members of the community for quality jobs at the BOSK facilities.
The announcement is one of several recent LPO loans under the Advanced Technology Vehicles Manufacturing (ATVM) Loan Program in the last year. Recent announcements have spanned the critical mineral and battery supply chains and involved mineral processing, battery manufacturing, and battery recycling. LPO has been working with BOSK to finalize its loan since June 2023.
Across all LPO’s programs, DOE has attracted 212 applications for projects across the country totaling more than $324.3 billion in requested loans and loan guarantees, as of November 2024.
