Valence applies for federal loans to build U.S.-based lithium-ion battery production facilities

摘要

According to Valence Technology President and CEO Robert Kanode, the company has submitted an application under the U.S. DOE's Advanced Technology Vehicles Manufacturing Incentive Program (ATVMIP) for up to $608 million in low interest loans. Kanode added, "These loans will help finance the construction of a new S760 million world-class lithium iron magnesium phosphate battery manufacturing facility to be located in Central Texas. If approved, it is anticipated that Valence's U.S. production capacity would be online as early as 2011.