The Great American EV Battery Revolution Might Finally Be Here
Companies plan dozens of factories in hopes of building a domestic supply chain from scratch.
A 6K cell testing lab.
Photo illustration: 731; Photo courtesy: 6K Inc.
If President Joe Biden gets his way, this year will kick off a bonanza of battery manufacturing across the US.
Dozens of companies have announced plans to open factories devoted to electric vehicle battery production, spurred by federal incentives and a growing market for cleaner cars. Under the Inflation Reduction Act, Biden’s signature climate policy, Uncle Sam will start giving new tax credits in January for making critical technologies in the country. That’s many extra carrots for carmakers already plotting ways to “onshore” more of their supply chain after being hobbled by the pandemic and the trade war with China.