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Biden administration earmarks $3.16 billion for battery production, supply chains
The Biden administration is providing $3.16 billion from the Bipartisan Infrastructure Bill to boost domestic battery manufacturing and supply chains in the United States and support electric vehicles and battery storage, Kallanish reports.
The money will be used to make more batteries and components in the US, bolster domestic supply chains, increase battery processing and recycling, create good-paying jobs and help lower costs for families as the US moves away from gasoline-powered vehicles, the US Department of Energy says in making the announcement. The infrastructure investments will help support the creation of new, retrofitted and expanded commercial facilities as well as manufacturing demonstrations and battery recycling.
“Positioning the United States front and centre in meeting the growing demand for advanced batteries is how we boost competitiveness and electrify our transportation system,” says Secretary of Energy Jennifer Granholm. The investment will give the US domestic supply chain “the jolt it needs to become more secure and less reliant on other nations,” she says.
DOE is announcing a separate $60 million to support second-life applications for batteries once used to power electric vehicles, as well as new processes for recycling materials back into the battery supply chain.
The Biden administration has set a goal of 50% EVs by 2030. The White House is working to develop a system of charging stations and tax incentives for consumers who buy EVs. As of 31 March, more than 2.5m EVs have been sold in the US. About 4% of new cars sold in the US last year were EVs.
The $1 trillion infrastructure law includes $7 billion to boost the US battery supply chain, including mining for critical elements.
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Anonymous
Very good overview of the weekly steel market.
Anonymous