United States officials from the White House have revealed that the administration of President Joe Biden will be spending more than $3 billion on in infrastructure funding to finance electric vehicle (EV) battery manufacturing.
The money will be allocated by the Department of Energy from the $1 trillion infrastructure bill which was signed by President Biden last year.
“Among the initiatives will be processing of minerals for use in large-capacity batteries and recycling those batteries,” said the Department of Energy.
The funding will be directed towards developing new domestic mines to produce the lithium, nickel, cobalt and other high-demand minerals needed to make the EV batteries. The funds will also help in establishing and refurbishing battery factories.
The U.S government wants half of the vehicle sold across the United States to be fully electric by 2030. President Biden is aiming to boost unionized manufacturing jobs in key election battleground states and reduce climate changing carbon emissions.
“As we face this Putin price hike on oil and gas, it’s also important to note that electric vehicles will be cheaper over the long-haul for American families,” said White House infrastructure coordinator, Mitch Landrieu.