US puts $3bn into battery manufacturing drive

The Biden administration will allocate more than $3bn in infrastructure funding to finance electric vehicle battery manufacturing.

Biden wants half of vehicles sold in the US to be electric by 2030, a goal he hopes will boost unionised manufacturing jobs in election battleground states, thwart Chinese competition in a fast-growing market, and reduce climate-changing carbon emissions. “As we face this Putin price hike on oil and gas, it’s also important to note that electric vehicles will be cheaper over the long haul for American families,” Mitch Landrieu, the White House infrastructure coordinator, told reporters in a briefing, referring to Russian President Vladimir Putin.“This investment will strengthen our domestic battery supply chain, create jobs, and help US manufacturers compete on the global stage,” Steven Croley, Ford’s general counsel, said.

But the funds will not go towards developing new domestic mines to produce the lithium, nickel, cobalt and other high-demand minerals needed to make those batteries. Some of those projects face local opposition and are tied up in Biden administration environmental and legal reviews.

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