More than $3.1 billion for battery production in the United States

“About $3.16 billion in subsidies for the production of important battery metals – such as lithium, cobalt and nickel – will be made available,” said Dave Howell, deputy director of the Office of Manufacturing and society’s energy supply chains. Ministry of Energy.

peace plan

“The subsidies are intended to reduce U.S. dependence on Chinese-led competitors,” Howell said. “Furthermore, the decision supports President Joe Biden’s plan to achieve half of U.S. auto sales with electric cars by the end of this decade.”

“This move will help boost battery production in the United States, make the country safer, and spur the creation of well-paying jobs,” said Mitch Landrieu, White House infrastructure specialist.

“The program will also help to combat climate change and rising oil and gas prices following the Russian invasion of Ukraine.”

Jennifer Granholm, US Secretary of Energy, recently called renewable energy the greatest peace plan the world will ever see.

Funding for the project will come from the infrastructure law signed last year, which provided for a budget of $550 billion. In this document, 7 billion dollars have been reserved for the domestic production of electric batteries.

Mobilization

Currently, lithium, cobalt and other battery-critical minerals are mainly processed in Asia. China alone controls almost 80% of the world’s processing and refining of these crucial minerals.

“While electric vehicles have strong demand, supply chain issues threaten to create significant bottlenecks,” said Chris Nevers, chief executive of automaker Rivian.

“The United States has the mineral resources and industrial capacity to create an all-national supply chain for electric vehicles, but realizing these ambitions will require massive mobilization by the federal government.”

On the other hand, Venkat Srinivasan, director of the Collaborative Center for Energy Storage Science at Argonne National Laboratory, pointed out that the United States also has the ability to become a dominant force in energy storage technologies. energy. “Now is a unique opportunity to seize this opportunity,” Srinivasan said.

It is estimated that electric vehicles and electricity storage will increase the demand for lithium-ion batteries in the United States by 20 to 30 times over the next decade. “To take full advantage of these opportunities, a secure national supply chain is needed,” Srinivasan said.