America Allocates $3 Billion For Battery Manufacturing Sector

by TTAC News Staff

Published: September 20th, 2024

The Biden admin has alloced $3 billion for battery manufacturing projects

The U.S. Department of Energy (DOE) has announced plans to allocate $3 billion toward 25 battery manufacturing projects across 14 states, as part of the Biden administration’s effort to shift the critical battery supply chain away from reliance on China.

This initiative is designed to bolster domestic production of advanced batteries and materials for electric vehicles (EVs), following the adoption of new U.S. EV tax credit rules.

An Albemarle lithium processing plant

The funding is set to generate a total of $16 billion in investments and create around 12,000 jobs in construction and production. The awarded projects cover a wide array of sectors, including battery-grade critical minerals, battery manufacturing, and recycling.

Key projects include Albemarle receiving $67 million to produce anode material for next-generation lithium-ion batteries in North Carolina. Honeywell was awarded $126.6 million for a facility in Louisiana focused on producing electrolyte salts for lithium batteries. Clarios Circular Solutions will receive $150 million to recycle lithium-ion battery scrap in partnership with SK ON and Cosmo Chemical.

An SK ON battery pack

Several projects also focus on critical mineral extraction using advanced Direct Lithium Extraction (DLE) technology, with SWA Lithium and TerraVolta Resources receiving $225 million each for lithium production.

This funding initiative aims to secure U.S. mineral and battery independence, paving the way for advancements in solid-state and next-gen battery technologies. These efforts are crucial for meeting the nation's climate goals and reducing reliance on China, which currently dominates much of the global battery supply chain.

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3 of 51 comments

Kwik_Shift_Pro4X 17 hours ago
More money laundering. What country will get it?

3 Reply
- Tassos 15 hours ago
  Mostly RED states that embezzle money from the FED and then play the victim
  
  2
Big Al from Oz 14 hours ago
I believe that sustaining these new industries without tariffs and/or technical barriers is paramount. Its all well and good to talk about increasing manufacturing but it must be competitive.

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