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The Biden administration announced on Monday that it will provide $3.1 billion in funding to support efforts to make electric vehicle batteries and components in the United States.
The funding, part of the Bipartisan Infrastructure Law enacted last year, will support plans by U.S. companies to build new factories and retrofit existing plants to build EV batteries and related parts.
Separately, the Department of Energy said that it will make an additional $60 million available to support reuse and recycling of used EV batteries.
Energy Secretary Jennifer Granholm said the new investments “will give our domestic supply chain the jolt it needs to become more secure and less reliant on other nations,” a key priority for the administration in the wake of the global supply-chain disruptions that followed Russia’s invasion of Ukraine.
The Biden administration has said that it wants fully electric vehicles to make up over half of U.S. new-vehicle sales by 2030.