Electric vehicle manufacturing gets a boost with loan to ramp up lithium production

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The U.S. is continuing to try to improve its domestic supply chain of critical minerals used in batteries for electric vehicles.

Myron Smart, a member of the Fort McDermitt Paiute and Shoshone tribe, displays a piece of obsidian, or volcanic rock, near Sentinel Rock on April 25, 2023, outside of Orovada, Nev. The U.S. is continuing to try and improve its domestic supply chain of critical minerals used in batteries for electric vehicles as the Biden administration hopes to accelerate the country’s transition away from traditional combustion engines to address climate change.on Thursday that it would be providing a $2.

“In advancing Thacker Pass to production, we have an incredible opportunity to lead the next chapter of global electrification in a way that both strengthens our national security of critical materials and ensures that the economic benefits are directed toward American workers, companies and communities,” Jonathan Evans, president and CEO of Lithium Americas, said in a statement.

A slowdown in sales has prompted some concerns from mining companies that have delayed or suspended new projects and expansions of production sites. That may pose problems for the U.S.

 

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