Energy chief Granholm touts $3B plan to boost EV batteries

By MATTHEW DALY
Associated Press

WASHINGTON (AP) — The Biden administration has announced $3.1 billion in funding to U.S. companies that make and recycle lithium-ion batteries. It’s part of the administration’s push to dramatically boost sales of electric vehicles. Energy Secretary Jennifer Granholm says the plan will offer grants to companies that process or recycle battery components to increase domestic supplies of a market now dominated by China and other countries. Biden has set a goal to have electric vehicles make up half of all vehicles sales in America by 2030. The grant program is separate from an executive order President Joe Biden issued this spring, invoking the Defense Production Act to boost production of lithium and other critical minerals needed for batteries.