US Government gives grants worth $2.8B to build up EV batteries supply chain.
The United States is continuing to build its domestic EV battery supply chain. The Biden administration has awarded grants totaling $2.8 billion for developing electric vehicle (EV) battery manufacturing facilities in the United States, as the country works to reduce its reliance on Asia.
President Joe Biden has set a goal of electrifying half of all new vehicles sold by 2030. Demand for critical minerals critical for EV batteries is expected to skyrocket in the next decade due to increased EV sales, which Biden is calling “one of the most significant economic transitions since the Industrial Revolution.”
According to the US Department of Energy, the approved projects will eventually supply enough lithium to produce 2 million EVs, enough graphite to produce…