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White House announces $3.1 billion for U.S. EV battery manufacturing

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U.S. President Joe Biden gestures after driving a Hummer EV during a tour at the General Motors ‘Factory ZERO’ electric vehicle assembly plant in Detroit, Michigan, November 17, 2021.

Jonathan Ernst | Reuters

The Biden administration announced on Monday that it will provide $3.1 billion in funding to support efforts to make electric vehicle batteries and components in the United States.

The funding, part of the Bipartisan Infrastructure Law enacted last year, will aid plans by U.S. companies to build new factories and retrofit existing ones to make EV batteries and related parts.

Separately, the Department of Energy said an additional $60 million will be available to support the reuse and…



Source cnbc.com

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