Biden awards $2.8 billion to boost U.S. minerals output for EV batteries
By David Shepardson and Ernest Scheyder
WASHINGTON (Reuters) -The Biden administration said on Wednesday it is awarding $2.8 billion in grants to boost U.S. production of electric vehicle batteries and the minerals used to build them, part of a bid to wean the country off supplies from China.
"By undercutting U.S. manufacturers with their unfair subsidies and trade practices, China seized a significant portion of the market," President Joe Biden said Wednesday in announcing the awards."Today we're stepping up... to take it back, not all of it, but bold goals."
Albemarle Corp is among the 20 manufacturing and processing companies receiving U.S. Energy Department grants to domestically mine lithium, graphite and nickel, build the first large-scale U.S. lithium processing facility, construct facilities to build cathodes and other battery parts, and expand battery recycling.
The grants, which are going to projects across at least 12 states, mark the latest push by the Biden administration to help reduce the country's dependence on China and other nations for the building blocks of the green energy revolution.
https://finance.yahoo.com/news/u-awards-2-8-billion-140229291.html
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