Valence Technology just announced that it has applied for $608 million worth of low-interest federal loans from the U.S. Energy Department’s Advanced Technology Vehicles Manufacturing Incentive. If it receives the loans, it plans to use them to build a $760 million manufacturing plant near Austin, Texas. The planned plant would be able to supply lithium batteries for over 250,000 electric and hyrbrid vehicles each year.

Robert Kanode, Valence’s president and CEO, commented on the loan … Read the rest