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The U.S. Department of Energy is allocating $3 billion to 25 projects across 14 states to enhance domestic electric vehicle battery production. This move aims to shift production away from China and create 12,000 jobs, with an overall investment expected to reach $16 billion.
U.S. Invests $3 Billion in Battery Projects to Shift EV Cell Production from China to America
The United States is taking a drastic $3 billion step to prevent Chinese electric vehicle batteries from accessing the market and to encourage companies to invest in domestic cell production.
The U.S. Department of Energy announced that it would allocate $3 billion to 25 battery manufacturing sector projects in 14 U.S. states to relocate cell production from China to the United States.
In the past, only 14 initiatives were granted $1.82 billion; however, this number has been increased.
Jennifer M. Granholm, the Secretary of Energy of the United States, stated:
“We’re in the midst of a manufacturing revival in the United States as the Biden-Harris Administration’s Investing in America agenda continues to breathe new life into communities and local economies across the country. By positioning the U.S. at the forefront of advanced battery manufacturing, we are creating high-paying jobs and strengthening our global economic leadership and domestic energy security, all while supporting the clean energy transition.”
China has dominated the EV battery market, as numerous companies rely on CATL and LG Energy Solutions to supply their cells.
U.S. Battery Initiative to Drive $16 Billion in Investment and Create 12,000 Jobs Nationwide
The United States is implementing various incentives to increase production, including this new initiative. It is expected to generate a total investment of $16 billion and create 12,000 production and construction positions, per Teslarati.
Several initiatives have already been designated as recipients of a portion of the grant.
Albemarle will receive $67 million for a North Carolina project to manufacture commercial quantities of anode material for next-generation lithium-ion batteries. Honeywell will receive just over $126 million to construct a facility in Louisiana to produce the electrolyte sodium required for lithium batteries.
Dow is also expected to receive $100 million to manufacture battery-grade carbonate solvents for electrolytes utilized in lithium-ion batteries. Clarios Circular Solutions, in collaboration with Cosmo Chemical and SK ON, will receive $150 million for an initiative in South Carolina.
The U.S. government is endeavoring to attract and retain more companies for production and manufacturing. These are merely a few of the awards that will be granted
