The United States will invest more than $3.1 billion to support domestic production of advanced batteries for electric vehicles and energy storage. These efforts should help the country build a sustainable economy and reduce its dependence on foreign resources. US government officials said so.
“Approximately $3.16 billion will be provided in subsidies to produce critical metals for batteries — such as lithium, cobalt and nickel,” said Dave Hoyle, deputy director of the company’s Office of Manufacturing and Energy Supply Chains. Energy department.
“The support is intended to reduce the United States’ dependence on competitors led by China,” Howell said. “In addition, the resolution supports President Joe Biden’s plan to achieve half of US auto sales with electric vehicles by the end of this decade.”
“This move will help boost domestic battery production in the United States, make the country safer, and promote higher-paying job creation,” said Mitch Landrieu, a White House infrastructure specialist.
“The program will also help combat climate change and the rise in oil and gas prices in the wake of the Russian invasion of Ukraine.”
Renewable energy was recently described by Jennifer Granholm, the US Secretary of Energy, as the greatest peace plan the world has ever known.
Funding for the project comes from the Infrastructure Act signed last year, which provides a $550 billion budget. In it, $ 7 billion was allocated for the domestic production of electric batteries.
Currently, lithium, cobalt and other important metals for batteries are mainly processed in Asia. China alone controls nearly 80 percent of the global processing and refining of these important minerals.
“While demand for electric vehicles is strong, supply chain problems threaten to create significant bottlenecks,” said Chris Nevers, CEO of automaker Rivian.
“The United States has the mineral resources and industrial capacity to create a fully domestic electric vehicle supply chain, but realizing these ambitions will require massive mobilization from the federal government.”
Venkat Srinivasan, Director of the Cooperative Center for Energy Storage Science at Argonne National LaboratoryOn the other hand, he stressed that the United States also has the potential to become a dominant power in energy storage technologies. “This is a one-time opportunity to seize that opportunity,” Srinivasan argued.
It is estimated that electric vehicles and electricity storage will increase the demand for lithium-ion batteries in the United States by 20 to 30-fold over the next decade. “In order to take advantage of these opportunities, it is essential to have a secure local supply chain,” Srinivasan said.
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