$2.8B announced for manufacturing EV batteries and grid

In a move to strengthen the domestic manufacturing of batteries for electric vehicles (EVs), the U.S. Department of Energy (DOE), announced $2.8 billion for 20 companies in 12 states to extract and process battery materials and manufacture components while creating good-paying jobs. The projects will be funded by the Bipartisan Infrastructure Law and will be matched by recipients to leverage more than $9 billion for the production of clean energy.

DOE reports that the funding is the first phase of $7 billion in total provided by the Bipartisan Infrastructure Law to strengthen the domestic battery supply chain by supporting upstream materials processing to create the precursor materials for batteries. Additional funding opportunities are expected to be forthcoming to continue to fill gaps in and strengthen the domestic battery supply chain. 

Of the 20 companies selected, five will build new facilities in disadvantaged communities, and 15 in locations adjacent to disadvantaged communities.

President Biden also announced the launch of the American Battery Material Initiative, an effort to align federal investments and activities, domestic and international, to accelerate the development of the full end-to-end battery supply chain, and will coordinate efforts to accelerate permitting for critical minerals projects.