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.
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 remain a challenge. Earlier this Spring the White House invoked the Defense Production Act to spur output of lithium, nickel, graphite, cobalt and manganese.
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