The US will give Ford $9.2bn to build a battery plant for electric cars - the biggest government investment in the auto industry since 2009

US carmaker Ford has received more than $9bn from US authorities. The subsidy is envisaged for the construction of a plant where batteries for electric vehicles will be produced.

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The size of the subsidy is $9.2 billion. It is worth noting that this is the largest government investment in the automotive industry in the last 14 years. The US authorities haven't given such benefits to automakers since the recession of 2009.

The subsidy will be given by the Department of Energy's Advanced Technology Vehicles Manufacturing (DOE's Advanced Technology Vehicles Manufacturing ). It was this organization that helped Tesla and gave the impetus for the joint collaboration between LG Energe Solution and GM.

Earlier Ford has announced plans to invest $11,4 billion together with SK Innovation in construction of three factories for production of batteries. One site will appear in Tennessee and two more in Kentucky. The production volume will be enough to equip 2 million electric cars per year until 2026.

Source: The Verge