The Biden administration is awarding over $3 billion to U.S. companies to boost domestic production of advanced batteries and other materials used for electric vehicles.
The grants will fund a total of 25 projects in 14 states.
The grants — announced Friday — mark the second round of EV battery funding under the bipartisan infrastructure law approved in 2021. An earlier round allocated $1.8 billion for 14 projects that are ongoing. The totals are down from amounts officials announced in October 2022 and reflect a number of projects that were withdrawn or rejected by U.S. officials during sometimes lengthy negotiations.
The money is part of a larger effort by President Joe Biden and Vice President Kamala Harris to boost production and sales of electric vehicles. Companies receiving awards process lithium, graphite or other battery materials, or manufacture components used in EV batteries.
“Today’s awards move us closer to achieving the administration’s goal of building an end-to-end supply chain for batteries and critical minerals in America,” White House economic adviser Lael Brainard said. […]
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