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bluesamurai

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20/01/24

13:32

Post #: 71977257
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Originally posted by bluesamurai: ↑

On November 15, 2023, the Biden-Harris Administration announced a significant investment of $3.5 billion to enhance domestic battery manufacturing in the United States. This funding is a part of President Biden’s Investing in America agenda and is allocated from the Bipartisan Infrastructure Law. The U.S. Department of Energy (DOE) will oversee this investment, aimed at increasing the production of advanced batteries and related materials across the nation. The initiative is a key element in supporting the clean energy industries of the future, including renewable energy and electric vehicles.The investment focuses on creating and retrofitting facilities for various components of battery production, such as battery-grade processed critical minerals, precursor materials, battery components, and cell and pack manufacturing. A significant aspect of this funding is its emphasis on job creation, specifically good-paying union jobs, and its contribution to the goal of achieving a net-zero emissions economy by 2050. Additionally, the investment aims to ensure that half of all new light-duty vehicle sales are electric vehicles by 2030 and to establish a robust domestic supply chain. QUOTE ARR in the right position to benefit IMO

https://investornews.com/critical-minerals-rare-earths/biden-harris-administrations-3-5-billion-investment-in-u-s-battery-manufacturing-and-clean-energy-transition/

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