US government plans to spend $3.1B on EV battery manufacturing
The US Department of Energy also announced a separate $60 million to support second-life applications for batteries once used to power EVs, as well as new processes for recycling materials back into the battery supply chain
By Yashasvini Razdan
Published - May 04, 2022, 02:08 AM ET
Last Updated - Feb 26, 2024, 07:20 AM EST
• The investments will support the creation of new and retrofitted, commercial facilities
US officials announced that the Biden administration plans to allocate $3.1 billion in infrastructure funding to finance the electric vehicle (EV) battery manufacturing.
The funds for the endeavor will come from the infrastructure law, brought into effect by the President last year, which also included $7.5 billion for electric transit vehicles and another $7.5 billion for electric vehicle charging infrastructure.
The US Department of Energy also announced a separate $60 million to support second-life applications for batteries once used to power EVs, as well as new processes for recycling materials back into the battery supply chain.
