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

The future of oil-2
Economy
The future of oil: how the industry will develop until 2026
27.01.2022
IMF Outlook
Economy
IMF forecast: what is expecting the world economy next year
16.06.2020
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
volume of foreign trade
Economy
China’s foreign trade volume reached 13.3%
12.04.2022
US economy growth
Economy
US economic growth: projections and trends
31.07.2020
Kazakhstan exports of goods
Economy
Kazakhstan and Israel plan to increase exports of goods
19.09.2022

Recent Posts

  • 1Merck
    Merck announced a deal with Imago
    04.02.2023
  • 2slowdown in inflation in Germany
    Germany and other countries recorded a slowdown in inflation
    03.02.2023
  • 3John Craig Venter
    Who is John Craig Venter and his contribution to science
    02.02.2023
  • 4Mitsubishi
    Japanese Mitsubishi Corporation: history of creation
    01.02.2023
  • 5soft market
    Soft market: its impact on sellers and buyers
    31.01.2023

Popular Posts

  • Skolkovo analysts: the Russian energy market is suffering losses
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation
  • William O’Neill – author of a unique trading strategy

Social media

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

Latest Posts

Merck
Merck announced a deal with Imago
04.02.2023
slowdown in inflation in Germany
Germany and other countries recorded a slowdown in inflation
03.02.2023
John Craig Venter
Who is John Craig Venter and his contribution to science
02.02.2023

Chaslau Koniukh

Expert Chaslau Koniukh

Chaslau Koniukh – an expert in marketing and project management, IT consulting, international investments, investor, financial analyst. A commodity trader, private consultant, entrepreneur, lecturer, author of several articles on the stock market.

Popular Posts

  • Skolkovo analysts: the Russian energy market is suffering losses
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation
  • William O’Neill – author of a unique trading strategy
  • World financial services and public literacy
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram
  • Biography

Chaslau Koniukh – an expert in marketing and project management, international investments, financial analyst.

Social media

Menu

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