The United States Department of Energy has approved a $362 million loan to CelLink Corp. to facilitate the construction of a plant in Texas for the manufacturing of components used in electric vehicle assembly. This loan is part of the government’s Advanced Technology Vehicles Manufacturing loan program.CelLink Corp. has developed an innovative method of connecting battery cells and packs, and transferring power and data across vehicle sensors, modules, and electronic control units. This technology will be utilized in the production of lightweight and efficient flexible circuit wiring harnesses.Currently, a substantial portion of wire harness production for the U.S. market is outsourced to nations with lower labor costs due to the intricate processes involved in traditional wire harness assembly, as stated by the Energy Department. However, the new Texas facility is anticipated to produce a sufficient number of wiring harnesses to support the manufacturing of approximately 2.7 million electric vehicles annually, a development that will create more than 1,200 employment opportunities.The plant will be constructed in stages, with up to 25 manufacturing lines to be established over the next several years. The Biden administration has revised its target for electric vehicle adoption, now projecting that between 35% and 56% of all new vehicles will be electric between 2030 and 2032. This shift has been met with criticism from auto workers in the politically crucial state of Michigan, who have opposed the administration’s more ambitious goals for electric vehicle adoption.
U.S. Provides $362 Million Loan to CelLink for Electric Vehicle Component Plant in Texas
