US unveils up to $3.5 billion funding to boost domestic battery manufacturing
2023.11.15 13:28
© Reuters. U.S. Secretary of Energy Jennifer Granholm delivers a speech ahead of a conversation with Daniel Yergin, the vice chairman of S&P Global, during the CERAWeek energy conference in Houston, Texas, U.S., March 8, 2023. REUTERS/Callaghan O’Hare/File Photo
(Reuters) – The U.S. Department of Energy on Wednesday announced up to $3.5 billion to strengthen domestic production of batteries and battery materials from the infrastructure law President Joe Biden signed in 2021.
The funding aims to boost battery manufacturing and supply chains by expanding domestic facilities for critical minerals, next-generation technologies and lithium-based technologies, among others.
“Positioning the United States front and center to meet the growing demand for advanced batteries is how we boost our global competitiveness, maintain and create good-paying jobs, and strengthen our clean energy economy,” U.S. Secretary of Energy Jennifer Granholm said in the release.
China dominates the global EV battery supply chain, and the limit it imposed on the anode material graphite in October has fueled uncertainty in the segment.
Two Democratic U.S. senators earlier this month had written to the Energy Department to take steps to boost U.S. battery manufacturing and next-generation battery research, citing China’s dominance and export controls, according to a letter seen by Reuters.
