The US Department of Energy (DOE) has announced to provide US$3.1 billion in funding, aiming to stimulate and strengthen the domestic electric vehicle (EV) battery supply chain to reduce dependency on battery imports and to achieve President Biden's goal of EV sales to account for over half of US new-vehicle sales by 2030.

The funding is part of the President's Bipartisan Infrastructure Law enacted last year. It will be used to build new factories and reconstruct existing factories for the production of EV batteries and related components.

In addition, the DOE said another US$60 million will be provided for battery recycling.