The United States plans to invest $3.5 billion to expand the domestic battery supply chain

According to the latest news, the U.S. government passed the "Inflation Reduction Act of 2022 (IRA)" and the "Bipartisan Infrastructure Act" on November 20, injecting a total of billions of dollars into the U.S. electric vehicle industry. These measures are aimed at promoting localized battery production and charging infrastructure construction projects

The IRA has provided incentives such as tax credits of up to $7,500 for each new energy vehicle, and the United States has now decided to allocate an additional $35 Billion US dollars (note on this site: currently about 25.27 billion yuan) as part of the infrastructure law will be used to promote the localized processing and manufacturing processes of advanced batteries and battery minerals nationwide.

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This week, the U.S. Department of Energy announced: “This funding will be used for construction, renovation and Expand domestic production of battery-grade processing of critical minerals, battery precursor materials, battery components and battery and packaging manufacturing facilities."

The United States hopes to establish a local mineral refining and battery production system to reduce the impact of China and South America Dependence on the processing of critical minerals such as lithium ions. There is no doubt about this

According to the International Energy Agency, Chinese manufacturers currently control 75% of the world's lithium-ion batteries and process and refine more than 50% of the world's key materials such as lithium, cobalt and graphite. In terms of lithium production capacity, tatista data shows that the United States lags far behind Australia, China and the South American lithium triangle consisting of Argentina, Chile and Bolivia – countries that tend to have abundant lithium resources.

The U.S. government aims to achieve zero emissions by 2050 and plans to have electric vehicles account for half of all car sales by 2030. It also wants to build local supply chains, all of which will require billions of dollars in investment.

U.S. Secretary of Energy Jennifer Granholm said: "Putting the United States front and center to meet the growing demand for advanced batteries will allow us to increase our global competitiveness and maintain and create good-paying jobs. and ways to strengthen the clean energy economy."

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