Exports will allow BMW to benefit from strong demand for EVs in Europe, where they account for 20% of new vehicle sales, compared to only 6% in the U.S.

The DOE said that it hopes the loans will help lower construction costs and speed up the deployment of the 10 reactors by as much as three years.

Tesla has been in the storage battery business since 2015, and Ford said in 2025 that it would convert a factory in Kentucky to make large batteries.