The DOE loan is part of a Biden Administration push to create a domestic EV supply chain.
a Nevada startup $2 billion to support its production of critical battery materials, a staggering sum that illustrates the Biden Administration’s determination to domesticate the electric vehicle supply chain.
The loan, which the Energy Department agreed to in a conditional commitment announced Thursday, will come from the Advanced Technology Vehicles Manufacturing Loan Program, which supports manufacturing projects that improve vehicle fuel efficiency.Lego sets for anyone of all ages to enjoy “Once we realized how systemically important this technology had become to our entire transportation system and our grid, all eyes started sharpening on how to build independence,” said Nathan Iyer, senior associate at the clean energy nonprofit RMI.to the country’s electric vehicle transition, including toward critical minerals sourcing and processing as well as battery manufacturing.
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