US WILL AWARD $3 BILLION TO 25 PROJECTS FOR BATTERY MANUFACTURING SECTOR

The U.S. Energy Department said Friday it plans to award $3 billion to 25 battery manufacturing sector projects in 14 states as the Biden administration works to shift the supply chain away from China. The projects will increase domestic production of advanced batteries and battery materials and follows the adoption of U.S. EV tax credit rules to shift battery production and critical minerals away from China.

The awards fund battery-grade processed critical minerals, components, battery manufacturing, and recycling, and will generate $16 billion in total investment for the projects and support 12,000 production and construction jobs.

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