Big news for clean energy and American jobs! The Department of Energy has announced a $7.54 billion conditional loan commitment to StarPlus Energy for two lithium-ion battery factories in Kokomo, Indiana. These state-of-the-art facilities will create thousands of jobs, boost EV production, and reduce U.S. reliance on foreign imports. Learn how this project is transforming the EV industry and supporting local communities. Watch now!"
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00:00Big news in clean energy.
00:02On December 2, 2024, the U.S. Department of Energy announced a massive $7.54 billion conditional
00:10loan commitment to Star Plus Energy.
00:13This game-changing investment will power the construction of two state-of-the-art lithium
00:17ion battery plants in Kokomo, Indiana.
00:20Let's break it down.
00:22These factories are part of the Biden-Harris administration's Investing in America agenda.
00:27The goal is to boost electric vehicle manufacturing, create thousands of jobs, and position the
00:32U.S. as a global EV leader.
00:35Here's the impact.
00:363,200 construction jobs and nearly 3,000 permanent positions at the plants, plus hundreds more
00:42in nearby supplier parks.
00:44That's a major win for the regional economy.
00:47At full capacity, these factories will produce enough batteries for 670,000 EVs annually,
00:53displacing over 260 million gallons of petroleum every year.
00:58Cleaner air, healthier communities.
01:01And it doesn't stop there.
01:03Star Plus is teaming up with local colleges like Ivy Tech Kokomo and Purdue Polytech to
01:07train workers for these high-tech roles.
01:10Plus, new apprenticeships are paving the way for future careers.
01:15This project also supports the Justice40 initiative, ensuring that 40 percent of its benefits flow
01:20to underserved communities.
01:22From cleaner energy to economic opportunities, it's about lifting everyone up.
01:27So what does this mean for America?
01:29More jobs, cleaner energy, and reduced reliance on foreign imports.
01:34The Star Plus Energy Project is a giant leap forward for the EV revolution.
01:38Stay tuned as we watch it all unfold.