The Biden administration acknowledges that China is a major source of electric vehicle and battery materials, but also recognizeshttps://www.a-pln.org/how-wow-in-china-was-affected-by-local-politics/ that so are other countries. As President Biden resolved to continue to correct the lack of reciprocity in US-China trade deals, the White House announced that the U.S. will work with allies instead, in the country’s acquisition of metals and minerals needed in the production of electric vehicles.
Rather than depend on China, the Biden administration’s goal is to partner with allies in expanding the supply chains, whilst excluding nations that tolerate inhumane labor practices and violate environmental standards.
Strategies Planned for the Metal and Mineral Procurement Projects
According to a Reuters report in late May, the strategies will include funding the expansion of international investments in electric vehicle (EV) metal projects. The plan will be carried out through the U.S. Development Finance Corporation and additionally, includes increasing supply by recycling batteries.
The current administration will also be inaugurating a working group tasked to identify mineral shortages; and where minerals used in similar technologies can be produced and processed domestically.
The biggest hurdle in Biden’s EV adoption plans is to secure enough minerals such as copper and lithium. The feat can be quite challenging as the country’s own domestic mines are currently facing environmental resistance and large-scale regulatory obstacles.
Additionally, other government agencies, like the Department of Interior, will be working toward identifying any rifts in laws that allow mining. The purpose of which is to make sure that mining operations meet strong standards.
The Metal Procurement Strategies is Vital to the Pursuit of Climate Goals
The Democratic Party continues to aggressively press on with the climate goals to ensure that by 2030, the majority of the cars manufactured in the U.S are electrically powered. The ultimate goal is for the country to have only electric cars driven on roads by 2040.
The good news is financing is not a problem as the Energy Department is contributing $17 billion with authorization, part of the Department’s Advance Technology Vehicles Manufacturing Loan program. According to the White House, the administrators of the program will also be making finances available to battery manufacturing companies that will recycle, refine and process critical minerals.