Official press release or announcement from American Battery Technology Co.

Biden Administration Allocates $3 Billion for EV Battery Production Across 25 Projects in 14 States

Sep 20, 2024, 04:05 PM

President Biden has announced a $3 billion allocation to enhance EV battery production in the United States. The U.S. Energy Department plans to award this funding to 25 battery manufacturing sector projects across 14 states. This initiative aims to strengthen domestic production and secure the supply chain for key components, while also reducing reliance on China. Notable recipients include American Battery Technology Co., Albemarle, Forge Battery, and Cabot Corporation. The funding is expected to create approximately 18,000 jobs and is part of the Biden administration's broader push to support the clean energy transition. This marks the second round of EV battery funding under the bipartisan infrastructure law.