Biden Admin Announces $3.1 Billion for Battery Shortage
President Biden wants electric vehicles to make up half of all vehicles sales in America by 2030.
The Department of Energy will spend billions on battery manufacturing in hopes of helping the Biden Administration meets its electric vehicle goals. Yesterday, the federal agency announced the funding of more than three billion dollars in battery production. The money will come from funds in the recently enacted bipartisan infrastructure law. It’s intended to strengthen the domestic supply chain in the U.S., which will help lower costs for families and boost employment as well as mitigate some of the environmental impacts from battery manufacturing. According to the Department of Energy, more than two-point-five million electric automobiles were sold at the end of March. President Biden wants electric vehicles to make up half of all vehicles sales in America by 2030.