U.S. Awards $3 Billion for EV Battery Production. The move aims to reduce China’s dominance in global battery production. The grants will support 25 projects across 14 states. Companies receiving the grants will focus on processing lithium, graphite, and other materials used in EV batteries.
Source: mafco
5 Comments
$3 Billion.
For a bunch of overpriced cars nobody wants to buy.
Cars which can explode and burn you alive at temperatures about half that of the sun.
I guess it’s better than just handing money to Ukraine, though.
EV incentives in the IRA require that batteries be sourced domestically, and that they must use primarily US-sourced raw materials. These requirements also include all US free trade partner countries. The initial passing of the bill launched a flurry of new battery plants, many owned by major automakers. It looks like they’re now focusing on the raw materials for those batteries.
The goal is for the US to ultimately control the complete supply chain, independent of potentially hostile adversaries like China. It’s a great goal but will need continued political support to fully evolve. Unfortunately one presidential candidate is vowing to kill it. Do your homework and choose wisely before you vote. The future of the US manufacturing revival and middle class resurgence may depend on it.
Who are we buying the lithium and graphite from? They seem to have left that information out.
That sounds like a drop in the ocean. For your reference, one European company alone has raised 5 billion to produce batteries. (https://northvolt.com/articles/northvolt-financing-january2024/), yet they are facing bankruptcy because their batteries are twice the price of the Chinese counterparts and the performance is no better either.
Sounds like some corporate welfare is in the works by the party that hates corporate welfare