Energy Department Announces $3.5 Billion Investment to Boost US Battery Industry

Published on November 16, 2023

The U.S. Department of Energy (DOE) on Nov. 15 announced an investment of up to $3.5 billion for companies aimed at boosting domestic production of advanced batteries and the materials that go into them. The funding—taken from President Joe Biden’s Bipartisan Infrastructure Law, which was signed into law in 2021—will go towards expanding domestic facilities for battery-grade processed critical minerals, battery components, and cell and pack manufacturing, the DOE said. It will also focus on next-generation technologies and battery chemistries, in addition to lithium-based technologies. Lithium Ion is currently the dominant battery type for electric vehicles (EVs) and electricity storage....

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