The Biden administration is awarding $3 billion to boost domestic mining and manufacturing for materials used in batteries.
The money will be spread across 25 projects in 14 states, including Nevada, North Carolina, Idaho, Texas, and Ohio among others. In a September 20 release, the White House detailed concerns over how China has “cornered the market” on processing and refining minerals used to make batteries, leaving the U.S. vulnerable to supply chain disruptions. In 2021, lithium production in the U.S. met roughly 5% of global demand; now, the Biden administration estimates that the country is pacing toward supplying more than 20% of global demand outside of China by 2030.
“After years of ceding ground to China, we are now winning the competition for the 21st century, protecting our industrial base and creating good jobs, and strengthening our energy and national security,” the release from Biden’s office reads.
The projects awarded these funds range from $45 million for rare earth oxide processing in California, to $2.26 billion for lithium processing at a mine in Nevada. In total, the Biden administration says that it has invested nearly $35 billion over the last three years in domestic battery material mining and production.