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Biden Puts Up Over $3 Billion to Boost U.S. Battery Output

May 2, 2022, 6:00 PM

The Biden administration will spend more than $3 billion to support the domestic manufacturing of advanced batteries used in electric vehicles and energy storage, officials said Monday.

About $3.16 billion in grants will be made available to produce key battery metals such as lithium, cobalt and nickel, said Dave Howell, principal deputy director in the Energy Department’s Office of Manufacturing and Energy Supply Chains.

Encouraging the domestic production of battery minerals has been a priority for the Biden administration as it seeks to electrify half of all new U.S. cars by 2030. But surging commodity prices and supply chain snarls ...