The Biden administration today unlocked $3.1 billion to create a domestic supply chain for advanced batteries used in electric vehicles and energy storage.
The $3.1 billion in grants are aimed at companies that can build new, retrofitted or expanded battery processing and manufacturing facilities as well as recycling plants in the United States. Lithium, cobalt, nickel and other critical minerals needed to produce EV batteries are largely processed in Asia. China alone controls over 75 percent of the world’s processing and refining capacity.
The grants will be funded through President Joe Biden’s $1.2 trillion bipartisan infrastructure law, which overall includes more than $7 billion to boost domestic battery supply chains. The Department of Energy separately announced an additional $60 million to support battery recycling.
“This announcement will…