Biden administration making $3 billion investment in lithium ion battery production – by Betsy Klein ( – May 2, 2022)

(CNN)President Joe Biden is building on his electric vehicle goal with a $3 billion investment Monday aimed at boosting the US supply of lithium ion batteries through the bipartisan infrastructure package.

The move is aimed at fighting climate change, but also to make the US more energy independent and secure, officials said, as Russia’s invasion of Ukraine has disrupted global oil markets.

“To help make electric vehicles work, we need also to increase the production of lithium ion batteries and we need responsible and sustainable domestic sourcing of the critical materials used to make lithium ion batteries such as lithium, cobalt, nickel, and graphite,” infrastructure implementation coordinator and senior Biden adviser Mitch Landrieu told reporters.

Landrieu added, “The bipartisan infrastructure law directs more than $7 billion to strengthen the US battery supply chain that will help us avoid disruptions, lower the cost and accelerate battery production in America to meet this demand.

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