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Biden’s $3B EV Plan

By May 3, 2022No Comments

Biden Allocates Over $3 Billion to Develop Domestic EV Battery Supply Chain

The U.S. Department of Energy (DOE) announced on Monday funding of more than $3 billion to support domestic battery production, supply chain development and recycling, aimed at boosting the Biden’s administration’s goals to significantly

ramp vehicle electrification in the U.S., and to bolster the country’s energy independence. The new funding is being made available under the Bipartisan Infrastructure Law, which allocates more than $7 billion through 2028 to investments in the U.S. battery supply chain. The advancement of clean mobility has been a key focus area for the Biden administration, with an executive order signed last year mandating that zero emissions vehicles make up half of new vehicle sales in the U.S. by 2030. Earlier this year, the administration announced the allocation of $5 billion over five years for the development of an EV charging network across the interstate highway system.