Biden Admin. Announces $3.16Bln Deal to Boost US Battery Manufacturing, Supply Chains

WASHINGTON (Sputnik) - The Biden administration is making available $3.16 billion in funding to boost battery- and components-making for electric vehicles (EVs) in the United States as well as to boost relevant supply chains, the Department of Energy announced Monday.

"[The] $3.1 billion in funding from President Biden’s Bipartisan Infrastructure Law to make more batteries and components in America, bolster domestic supply chains, create good-paying jobs, and help lower costs for families," the Department of Energy said in a statement.

The administration has signaled that an additional $60 million will be provided to support so-called second-life applications for batteries once used to power EVs, as well as new processes for recycling materials back into the battery supply chain.

"Both funding opportunities are key components of the administration’s whole-of-government supply chain strategy to strengthen America’s energy independence to reduce our reliance on competing nations and support the President’s goal to have electric vehicles make up half of all vehicles sales in America by 2030," the statement said.