Biden to provide $3.1B to support domestic production of EV batteries

President Joe Biden’s administration said it will provide $3.1 billion in funding to support the domestic production of advanced batteries that will spur electric vehicle adoption. Proponents of the funding, which is part of the Bipartisan Infrastructure Law enacted last year, say supporting local battery initiatives will alleviate fluctuations in global oil markets, specifically the surging price of gas caused in large part by Russia’s invasion of Ukraine.
The White House said on Monday it will also set aside a separate $60 million in grants for battery recycling initiatives, both

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