US Energy administration grants $2.8 billion for electric battery production
October 26, 2022
The United States Department of Energy (DoE) has announced the first set of projects funded by President Biden’s Bipartisan Infrastructure Law to expand batteries for electric vehicles & the electrical grid, as well as for materials and components currently imported. The twenty selected companies will receive a combined $2.8 billion to build and expand commercial facilities in twelve states to extract & process lithium, graphite and other battery materials; manufacture components, and demonstrate new approaches, including manufacturing components from recycled materials.
The federal investment will be matched by recipients to leverage a total of more than $9 billion to boost American production of clean energy technology, create well-paid jobs and support the government’s goal for EVs to make up half of all new vehicle sales by 2030 and to transition to a net-zero emissions economy by 2050.
“This is truly a remarkable time for manufacturing in America, as President Biden’s Agenda and historic investments supercharge the private sector to ensure our clean energy future is American-made,” said Jennifer M Granholm, US Secretary of Energy. “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.”
