On Friday (September 20th) local time, the US Department of Energy announced funding of over $3 billion to 25 selected projects in 14 states to promote the production of more advanced batteries and battery materials domestically. This funding is also part of US President Biden and Vice President Harris' plan to promote the production and sales of electric vehicles, and is a key element of their strategy to mitigate climate change and build the US manufacturing industry. The companies receiving subsidies are mainly engaged in processing lithium, graphite or other battery materials, or producing components for electric vehicle batteries.