U.S. government invests $3 billion to boost electric vehicle battery production

According to reports, the Biden administration plans to invest more than $3 billion in U.S. companies to promote domestic production of advanced batteries and other materials for electric vehicles. The funds will support 25 projects in 14 states, including election battleground states such as Michigan and North Carolina, as well as Ohio, Texas, South Carolina and Louisiana. These grants are based on the second round of electric vehicle battery funding based on the Bipartisan Infrastructure Act passed in 2021.