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U.S. Energy Dept to provide about $3 billion to boost production of advanced batteries – Metro US

U.S. Energy Dept to provide about $3 billion to boost production of advanced batteries

A worker installs electrical batteries in a bus at the
A worker installs electrical batteries in a bus at the BYD electric bus factory in Lancaster, California

(Reuters) – The U.S. Energy Department said it intends to provide $2.91 billion to boost production of advanced batteries to grow clean energy industries, including electric vehicles, as directed in the infrastructure legislation.

“The Department intends to fund battery materials refining and production plants, battery cell and pack manufacturing facilities, and recycling facilities that create good-paying clean energy jobs”, the Energy Department said in a statement on Friday. The funding is expected to be made available in the coming months, it added.

(Reporting by Kanishka Singh in Bengaluru)

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