Sharjah24 - AFP: US President Joe Biden announces 2.8 billion dollars in awards for 20 US companies to develop minnerals for electric vehicle battery production, as part of a push to boost domestic manufacturing and speed up the transition to EVs. With the funding coming from his Bipartisan Infrastructure Law, Biden calls the present moment "one of the most significant economic transitions since the Industrial Revolution" in his remarks from the White House.
Commenting on this, Joe Biden, US President said, "That’s why today, I’m proud to announce 2.8 billion dollars in awards to 20 companies represented on this screen, across 12 states funded by the infrastructure law, to build electric vehicles in a battery future here in America. Nearly 200 companies applied for these grants. Only 20 were selected, from Georgia to North Carolina to Nevada to the state of Washington."
The US President added, "Together, these 20 companies are going to build new commercial-scale battery production and processing facilities all across America. They’re going to develop Lithium to supply over 2 million vehicles every year. And that 2.8 billion dollar investment is going to unlock billions of dollars in private investment from these companies. That means the projects are going to generate 9 billion dollars total for American manufacturing and the battery supply chain across America."
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