Biden awards $2.8 billion for electric vehicle battery manufacturing

U.S. President Joe Biden delivers remarks to spotlight electric vehicle manufacturing in America, throughout a go to to the Detroit Auto Show, September 14, 2022.

Kevin Lamarque | Reuters

The Biden administration on Wednesday stated it can award $2.8 billion in grants for tasks to increase U.S. manufacturing of batteries for electric automobiles and home mineral manufacturing.

The grants, that are funded by way of the president’s $1 trillion bipartisan infrastructure regulation, will allow manufacturing and processing corporations in at the very least 12 states to extract and course of extra lithium, graphite, nickel and different battery supplies.

The announcement is a part of the administration’s broader push to transition the U.S. away from gas-powered automobiles to electric automobiles. The transportation sector represents about one-third of planet-warming greenhouse gasoline emissions annually.

“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,” Energy Secretary Jennifer Granholm stated in an announcement.

The tasks will help growing sufficient lithium to provide about 2 million EVs per yr, growing sufficient graphite to provide about 1.2 million EVs per yr and producing sufficient nickel to provide about 400,000 EVs per yr, in keeping with the Energy Department.

The tasks will even set up the nation’s first large-scale industrial lithium electrolyte salt manufacturing facility in the usand develop an electrode binder facility that may provide 45% of the anticipated home demand for binders for EV batteries in 2030, the division stated.

Earlier this yr, Biden invoked the Defense Production Act to bolster U.S. manufacturing of minerals required to supply batteries for EVs and long-term vitality storage, and to scale back the nation’s dependence on overseas provide chains.

“Currently, virtually all lithium, graphite, battery-grade nickel, electrolyte salt, electrode binder and iron phosphate cathode material are produced abroad, and China controls the supply chains for many of these key inputs,” the White House stated in a reality sheet.

The White House has set a objective for EVs to comprise half of all new vehicle gross sales by 2030 and has pledged to interchange its federal fleet of 600,000 automobiles and vehicles with electric energy by 2035. The administration has additionally rolled out a plan to allocate $5 billion to states to fund EV chargers on nationwide highways.

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