Developing a domestic supply is an important part of the U.S. push to expand alternative energy sources
Lithium is a key component of rechargeable batteries, and developing domestic supply is seen as an important step in a broad push for the U.S. to transition to alternative energy sources.
In February, the Biden administration unveiled plans to invest $2.9 billion to boost production of advanced batteries and strengthen the battery supply chain in the U.S., including the development of domestic supplies of lithium. Last month President Biden also invoked the Defense Protection Act to increase production of battery metals.