The Biden administration announces a plan to dole out grants (totaling $3.16 billion) to boost domestic production of EV batteries. Auto123 has more.
We’ve heard much lately about the coming shortage of battery packs for EVs, most notably in the form of a warning by Rivian boss R.J. Scaringe, who predicted that the lack of supply of batteries for electric vehicles will be far more severe than the current shortage of microchips bedeviling the industry.
That there will be an explosion in demand for EV batteries is obvious to everyone, of course, and the U.S. government has announced it is pouring hard cash into encouraging development of a domestic battery-production industry. President Joe Biden made the announcement this week that his administration is earmarking $3.16 billion to be given out as grants to develop and build battery production facilities on American soil.
The Teslarati website quoted US Secretary of Energy Jennifer Granholm as saying that “Positioning the United States front and center in meeting the growing demand for advanced batteries is how we boost our competitiveness and electrify our transportation system.” We also note that recent announcements of new investments in the automotive industry in Ontario and Quebec by General Motors, Stellantis and others include, in many cases, allocations to build battery-production plants.Photo: Mercedes-Benz Production plant for EV batteries The announcement this week of course ties in with the U.S.
It’s worth noting that currently, as reported by InsideEVs, the U.S. is adopting EVs at the third-fastest rate globally, behind China and Europe.
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