Manufacturing boost.

The U.S. Energy Department has offered a $1.2 billion conditional loan to a U.S.-based company to make key battery parts mostly for EVs and also storage applications, Reuters reports.

At full capacity, DOE said the plant will help EV makers meet domestic sourcing requirements and support roughly 1.9 million mid-size EVs or 1.3 million electric sports utility vehicles.

Amena H. Saiyid

Washington D.C. Correspondent