US awards $2.8B in grants for EV batteries in 12 states
By MATTHEW DALY
WASHINGTON (AP) – The Biden administration on Wednesday awarded $2.8 billion in grants to build and expand domestic manufacturing of batteries for electric vehicles in 12 states including Alabama.
A total of 20 companies will receive grants for projects to extract and process lithium, graphite and other battery materials, manufacture components and strengthen U.S. supply of critical minerals.
In Alabama, the New York-based company Anovion is getting $117 million in grants and providing nearly $300 million of its own funds to build a manufacturing plant in north Alabama designed to process material for lithium-ion batteries used in electric vehicles and energy storage.
The announcement comes as the administration seeks to boost production and sales of electric vehicles as a key part of President Joe Biden’s strategy to slow climate change and build up U.S. manufacturing.
Read the full White House announcement right here.
A sweeping climate and health-care law passed in August includes several provisions to boost electric vehicles, including tax credits for EV buyers worth up to $7,500.
Read the full story on AP News right here.
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10/19/2022 4:33:28 PM (GMT -5:00)