US to Award $3B to 25 Projects for Battery Manufacturing Sector
Biden Administration Announces Funding to Bolster Domestic Battery Production
Projects Aim to Strengthen Supply Chain, Reduce Reliance on Foreign Imports
The Biden administration has announced plans to award $3 billion to 25 projects aimed at boosting domestic battery manufacturing and strengthening the supply chain for electric vehicles and energy storage systems.
The funding is part of the Bipartisan Infrastructure Law, which allocated $5 billion for battery manufacturing and recycling. The Department of Energy (DOE) will administer the grants, which will go to projects in 12 states.
The projects will focus on various aspects of battery manufacturing, including research and development, production, and recycling. They are expected to create thousands of jobs and help reduce the United States' reliance on foreign imports for batteries.
Key Benefits of the Investment
* **Increased domestic battery production:** The projects will help increase domestic battery production capacity by billions of kilowatt-hours per year. * **Strengthened supply chain:** The investment will strengthen the domestic battery supply chain and reduce reliance on foreign imports. * **Job creation:** The projects are expected to create thousands of jobs in manufacturing, R&D, and other related fields. * **Economic development:** The investment will support economic development in communities across the country.Specific Project Details
- California: Redwood Materials will receive $1.1 billion for a battery recycling facility in Nevada.
- Michigan: General Motors will receive $250 million for a battery cell manufacturing facility in Michigan.
- Ohio: Stellantis will receive $250 million for a battery cell manufacturing facility in Ohio.
- New York: Plug Power will receive $150 million for a green hydrogen and fuel cell manufacturing facility in New York.
A full list of the projects and their funding amounts is available on the DOE website.
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