https://www.engineeringnews.co.za

Biden invokes Cold War powers to boost EV battery production

An image of US President Joe Biden

US President Joe Biden

15th April 2022

By: Bloomberg

  

Font size: - +

The US administration has announced that it will invoke Cold War powers to boost domestic production of materials for batteries needed to power electric vehicles (EVs) and the transition to renewable energy, a move intended to improve US competitiveness in a market dominated by China.

The decision adds lithium, nickel, cobalt, graphite, and manganese to a list of items covered by the 1950 Defense Production Act. It’s the same authority used by former President Donald Trump to spur mask production to tackle the pandemic and Harry Truman to make steel for the Korean War.

This could help mining companies access $750-million under the Defense Production Act’s Title III Fund. Industries supported by large-capacity batteries, including transport and the power sectors, account for more than half of the US carbon emissions.

The move also illustrates the tightrope President Joe Biden walks on this issue. On the one hand, climate-change activists, environmentalists and indigenous groups oppose many mining projects due to the impact on water supplies and nearby communities. On the other, the US would need a big increase in domestic mining projects to begin providing even a fraction of the metals and materials that will be needed to supply the oncoming wave of EV production.

Edited by Bloomberg

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Axiom Hydraulics
Axiom Hydraulics

Axiom Hydraulics is a trusted leader in South Africa’s hydraulic industry, delivering world-class components, systems, and engineering expertise...

VISIT SHOWROOM 
MBE Minerals SA (Pty) Ltd
MBE Minerals SA (Pty) Ltd

Your global lifecycle technology & service partner for materials & minerals processing equipment for coal, iron ore, copper, manganese & other...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.058 1.099s - 122pq - 2rq
Subscribe Now