PresidentJoe Biden is building on his electric vehicle goal with...

PresidentJoe Biden is building on his electric vehicle goal with a $3 billion investmentaimed at boosting the US supply of lithium ion batteries through the bipartisaninfrastructure package.

By Betsy Klein, CNN

President Joe Biden is building on his electric vehicle goal with a $3 billion investment Monday aimed at boosting the USsupply of lithium ion batteries through the bipartisan infrastructurepackage.

Themove is aimed at fighting climate change, but also to make the US more energy independent andsecure, officials said, as Russia’s invasion of Ukraine has disrupted global oil markets.

“To help make electric vehicles work, we need alsoto increase the production of lithium ion batteries and we need responsible andsustainable domestic sourcing of the critical materials used to make lithiumion batteries such as lithium, cobalt, nickel, and graphite,” infrastructureimplementation coordinator and senior Biden adviser Mitch Landrieu toldreporters.

Landrieu added, “The bipartisan infrastructure lawdirects more than $7 billion to strengthen the US battery supply chain thatwill help us avoid disruptions, lower the cost and accelerate batteryproduction in America to meet this demand. So today, the Department of Energyis announcing $3.16 billion to support battery manufacturing, processing, andrecycling funded by the bipartisan infrastructure law.”

Biden previously set a goal of having electricvehicles make up over half of all vehicle sales by 2030. The infrastructure lawalso includes $7.5 billion for electric vehicle chargers, $5 billion forelectric transit buses, $5 billion for clean and electric school buses.

The funding will help secure the battery supplychain and build capacity, National Economic Council Director Brian Deese said,and will also improve US competition. But it also has national securityimplications amid the broader challenges of energy security and independencebrought to light during the war in Ukraine over the past two months.