White House Awards $2.8 Billion to EV Battery Suppliers (1)

President Joe Biden said Wednesday that $2.8 billion to bolster the U.S. battery supply chain will create thousands of good-paying jobs at 20 manufacturing and processing companies such as North Carolina-based Albemarle Corp. while weaning off imports of minerals and components from China.

The round of funding is the first phase of a larger $7 billion Energy Department battery supply chain program established by the bipartisan infrastructure law that Congress passed last year. The grants require the private sector to at least match the federal dollars, and so far the selected companies have committed more than $6 billion, a senior ...