Powering the Future: How Governments are Supporting Battery Production for Electric Vehicles

Governments are going BIG on batteries! As the world transitions towards cleaner energy sources, Governments have recognized the importance of securing battery supply chains in the transition towards a more sustainable future!

Some of the biggest government spending packages on battery production incentives include:

1. The US Department of Energy's Advanced Technology Vehicles Manufacturing (ATVM) loan program, which provides up to $25 billion in loan guarantees to support the development and production of fuel-efficient vehicles and related components, including batteries.
2. The European Union's Horizon 2020 program, which includes funding for research and development of batteries and related technologies as part of its Clean Energy for All Europeans package.
3. China's National New Energy Vehicle Industry Development Plan, which includes significant government subsidies and incentives for the development and production of electric vehicles and batteries.
4. The UK's Faraday Battery Challenge, which includes £274 million in government funding to support the development of battery technology and promote the growth of the UK's battery manufacturing sector.
5. South Korea's Electric Vehicle Battery Industry Cultivation Plan, which includes government funding and support for the development of the country's electric vehicle and battery manufacturing industries.

These government spending packages reflect a growing global commitment to supporting the development and production of battery technology, which is seen as essential for achieving a more sustainable future. By providing incentives and funding for battery technology research and development, these packages are helping to drive innovation and accelerate the adoption of clean energy technologies.

In Ep 2 with Gavin White, Co-Founder and CEO of About: Energy, we explore the various initiatives and policies implemented by countries to encourage the production of batteries.

So whether you're interested in clean energy, electric vehicles, or the future of sustainability, this episode is for you! So, let's dive in!

Helpful Links:

• https://www.technologyreview.com/2022/10/20/1062000/billions-in-funding-could-kick-start-the-us-battery-materials-industry/
• 2022 was a record year for EV battery factories in the U.S. - NPR
• CATL plans Europe's biggest battery gigafactory - C&EN

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