Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
battery manufacturing
Economy

The U.S. intends to increase the production of batteries for electric vehicles

25.12.2022
2 min read

The U.S. government has allocated $2.8 billion for battery manufacturing

The record increase in energy prices and the global energy crisis has forced the governments of many countries to think once again about reducing dependence on carbon raw materials. The optimal solution, in this case, is a gradual reduction in its use, and we need to start with the transport sector. To this end, the U.S. authorities have initiated a new program aimed at the production of batteries for electric cars. The project will allocate 2,8 billion dollars, which will be directed to the facilities in 12 states.
According to the U.S. government, about 20 companies will be able to get financial support for projects related to mining and processing materials used in the production of batteries. This is primarily a question of lithium and graphite. The funds are planned to be allocated in the form of grants. It is expected that the program will contribute to the achievement of climate goals to reduce carbon dioxide emissions. In addition, the authorities hope that such a step will increase the supply of minerals, which are critical for the country and the development of production.battery manufacturing-2The electric vehicle battery allocation is part of a bill passed by Congress in August of this year. It includes various clauses aimed at accelerating the rate of reduction of carbon emissions. As part of the law, the U.S. will increase electric vehicles by introducing various subsidies for their purchasers. The tax credits would apply to electric cars that cost less than $7,500.
The government believes that the switch to battery-powered vehicles will help reduce the negative impact on the climate and improve the environment. One of the important factors in the development of this market is its own production of electric cars and their components. According to statistics, about 75% of all batteries in the world are produced in China, which is an imbalance. In addition, Beijing has repeatedly put pressure on the global market by imposing various duties and taxes on the export of critical components. Therefore, the U.S. wants to reduce its dependence on imported supplies and develop the domestic battery manufacturing segment.
The increase in the production of lithium-ion batteries is becoming more and more relevant, given the rate of demand for them. According to analysts’ forecasts, by 2040 the share of electric cars in the personal transportation sector will be about 70%. Such data shows that it is necessary to increase battery production as early as today. In addition, it is important to pay attention to the extraction and processing of minerals that are used to make electric vehicles. Many companies are interested in expanding their capacity in the United States.

Tags: Economy
0
Previous Post Who is Albert Ueltschi: the story of a billionaire Next Post Blibli platform raised $320 million in an IPO

You Might Also Like

Collapse of the Russian economy
Economy
The collapse of the Russian economy: consequences of the coronavirus pandemic
06.02.2021
German industry
Economy
German industry sees record accumulation of backlogs
18.08.2022
The technical recession
Economy
India’s technical recession is over: an overview of the situation
17.01.2022
The Georgian Central Bank introduces regulation of the cryptocurrency market
Economy
National Bank of Georgia develops regulation of cryptocurrency market
25.07.2022
The World's Storage of Oil
Economy
Storage of oil in the world will soon be overflowing: excess of raw materials on the market
01.02.2021
Portugal's economy
Economy
How Portugal’s economy recovered from the crisis: the country’s experience
30.08.2020

Popular Posts

  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Press Secretary
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Press Secretary
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Press Secretary
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Press Secretary
16.05.2020

Popular Posts

  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram

© 2024 CHASLAU KONIUKH. ALL RIGHTS RESERVED. Expert in marketing and project management, international investments, financial analyst.

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics