This week, the Biden-Harris administration announced it would allocate more than $2.8 billion to U.S. electric vehicle production in a new round of funding aimed at increasing U.S. electric vehicle production capacity, including: yesterday.
The money is disbursed in the form of grants, including grants awarded to approximately 20 manufacturers in 15 states, to help further develop the necessary infrastructure for the procurement and refinement of battery-grade graphite, lithium and nickel that will be needed to support the rapidly growing demand for the raw materials associated with the production of EVs. The money will also be used to develop the first commercial lithium electrolyte salt production facility in the US, further reducing domestic automakers’ reliance on Chinese materials – a scenario that Snow Lake Lithium CEO Phil Gross has argued,”an existential threatto North American automakers.
“Today I announce the launch of the American Battery Materials Initiative. It will coordinate the federal government’s efforts and work closely with the private sector, unions, tribes, community organizations and our partners and allies abroad,” Biden said. in comments about the new awards.”
“This is critical because the future of vehicles is electric, but the battery is an important part of that electric vehicle. And right now 75 percent – as the people on the screen can tell you – 75 percent of that battery production in China.”
“And for some battery components,” the president continued, “critical materials, China controls nearly half of global production. But China’s battery technology is no more innovative than anyone else’s… in fact, our national labs, our research universities, our automakers led the development of this technology here in America. But by undercutting US manufacturers with their unfair subsidies and trade practices, China has captured a significant share of the market.”
You can read the president’s full comments on the transition of the new grants at the official White House PR link and then let us know what you think of this $2.8 billion grant — just a fraction of that. what the US government spends on keep corn prices high and keep oil price lowit must be said – in the comments section at the bottom of the page.
Source: WhiteHouse.gov
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