The U.S. Department of Energy (DoE) has announced an initial round of funding to expand the domestic development and manufacturing of batteries for electric vehicles (EVs).
According to a press release issued by the DoE in mid-October, 20 companies based in the U.S. will receive a combined total of $2.8 billion to build and expand commercial facilities in 12 states to extract battery materials, manufacture components, and demonstrate new approaches to battery manufacturing, including manufacturing components from recycled materials.
This initial round of funding represents the first phase of a $7 billion investment in EV batteries authorized under the recently passed federal Infrastructure Investment and Jobs Act, and is intended to support efforts to expand the sale of EVs in the U.S., and achieve a net-zero emissions economy by the year 2050.
Recipient companies of DoE funding will be expected to match the amount of their DoE grant.
Read the DoE’s press release on the funding for EV battery development and manufacturing.
