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Biden administration announces $2.8 billion in grants for electric vehicle battery manufacturing

President Biden is awarding $2.8 billion in Energy Department grants from his bipartisan infrastructure law to 20 manufacturing and processing companies in 12 states. The White House said that the Biden Administration is also launching the “American Battery Materials Initiative,” described as a new effort to mobilize government to help industry create a reliable and sustainable supply of critical minerals for EV’s and electric power. These efforts are part of a strategic Biden administration plan to make half of all new vehicles sold in the United States in 2030 electric.

The White House said in a statement: “Together, these actions will improve America’s energy independence, strengthen national security, support good-paying jobs across battery supply chains, and lower costs for working families. This market transformation is expected to increase demand for critical minerals such as lithium and graphite used in EV batteries. Today’s announcements demonstrate how the United States is poised to meet this challenge while growing our economy and creating high-quality union jobs in the battery supply chain.” Energy Secretary Jennifer Granholm added: “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.” 

The White House touted that President Biden’s economic agenda efforts have already “ignited a domestic manufacturing boom with companies announcing over $100 billion in EV, battery and EV charging investments here in the United States.” According to the White House, EV sales have tripled since Biden has been in office.

Editorial credit: asharkyu / Shutterstock.com

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