UAW Criticizes $9.5B Government Loan for Ford-SK JV Battery Production
TL;DR Summary
The United Auto Workers (UAW) union’s President Shawn Fain criticized the US Department of Energy for offering a conditional commitment to provide a $9.2 billion loan to Ford and SK On’s BlueOval battery plant joint venture, stating that it would create 7,500 low-road jobs without considering wages, working conditions, union rights, or retirement security. The UAW president believes that Ford-SK’s loans would “enrich Ford shareholders” but shortchange communities and UAW members. The loan is expected to boost the legacy automaker’s battery manufacturing business in the United States and increase its electric vehicle output to 2 million units annually.
- Ford-SK JV’s $9.5B government loan attracts UAW’s ire TESLARATI
- Subsidies are 'Job One' at Ford's US battery plant Western Standard
- Tennessee, Kentucky battery plants for Ford electric vehicles on track for $9.2B federal loan WTVC
- UAW blasts Biden administration over Ford, SK battery loan Detroit Free Press
- The DOE Loan to Bring Battery Production Onshore - RIA Real Investment Advice
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