US announces up to $3.5 billion in funding to increase domestic battery manufacturing

The infrastructure law that President Joe Biden signed in 2021 will boost local manufacturing of batteries and battery materials by up to $3.5 billion, according to a U.S. Department of Energy announcement on Wednesday.

The financing is intended to enhance domestic facilities for essential minerals, next-generation technologies, and lithium-based technologies, among other things, with the goal of enhancing battery manufacturing and supply chains.

U.S. Secretary of Energy Jennifer Granholm stated in the release that “Positioning the United States front and center to meet the growing demand for advanced batteries is how we boost our global competitiveness, maintain and create good-paying jobs, and strengthen our clean energy economy.”

The worldwide EV battery supply chain is dominated by China, and the country’s October restriction on the anode material graphite has increased market uncertainty.

Citing China’s dominance and export limits, two Democratic U.S. senators had written to the Energy Department earlier this month urging action to increase U.S. battery manufacture and next-generation battery research. A copy of the letter was seen by Reporters.

Topics #$3.5 billion #domestic battery manufacturing #Fund #President Joe Biden #US