Biden Admin Awards $3B for Battery Production
Biden Admin Awards $3B for Battery Production
Biden Admin Awards $3B for Battery Production
News summary

The Biden administration is awarding over $3 billion to 25 projects across 14 states to bolster domestic production of advanced batteries and materials for electric vehicles. This funding, stemming from the 2021 Bipartisan Infrastructure Law, aims to counter China's dominance in the EV battery market and support U.S. manufacturing. The projects involve processing critical minerals, manufacturing battery components, and recycling materials, and are expected to generate thousands of jobs. Key companies receiving funds include Albemarle, Honeywell, and Dow, among others. White House economic adviser Lael Brainard emphasized the importance of building an American supply chain for batteries. The initiative is part of a broader strategy to combat climate change and enhance energy security.

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15
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Center
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4
Unrated
2
Last Updated
20 min ago
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33% Left
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