The Biden administration announced it is awarding $2.8 billion in grants for projects in the United States that will help expand the manufacturing of electric vehicle batteries and increase domestic mineral production.
The grants will go to 20 companies across 12 states and enable manufacturers and processing companies to extract and process more lithium, graphite, nickel, and other battery materials.
The grants are a part of the president’s $1 trillion bipartisan infrastructure law and are designed to speed the transition toward electric vehicles in the US.
“Producing advanced batteries and components here at home will accelerate the transition away from fossil fuels to meet the strong demand for electric vehicles, creating more good-paying jobs across the country,” said Energy Secretary Jennifer Granholm.
According to the Department of Energy, the projects will support enough lithium to supply about 2 million EVs annually, enough graphite to supply about 1.2 million EVs, and enough nickel to supply 400,000 EVs.
The grants will also fund the country’s first large-scale commercial lithium electrolyte salt production facility in the US and an electrode binder facility capable of supplying 45% of the anticipated domestic demand in 2030.
“Currently, virtually all lithium, graphite, battery-grade nickel, electrolyte salt, electrode binder, and iron phosphate cathode material are produced abroad, and China controls the supply chains for many of these key inputs,” the White House stated in a fact sheet.
Did you enjoy this article? Please share your thoughts, comments, or questions regarding this topic by connecting with us at newsroom@cbtnews.com.
Be sure to follow us on Facebook, LinkedIn, and TikTok to stay up to date.
While you’re here, don’t forget to subscribe to our email newsletter for all the latest auto industry news from CBT News.
