Electric cars

Biden to invoke Defense Production Act for electric vehicle battery materials

Biden to invoke Defense Production Act for electric vehicle battery materials

President BidenJoe BidenTrump Says He’s Not Interested In Being President If GOP Takes Over House Biden Administration Boosts Support For Antitrust Efforts Energy & Environment – Oil Companies Repel House Speaker MORE is set to invoke the Defense Production Act (DPA) as early as this week to increase production of minerals used to make batteries for electric vehicles, a source familiar with the plans confirmed to The Hill.

Biden is set to release a presidential decision aimed at boosting domestic production of minerals, which are used for both stationary batteries and vehicles. The person stressed that the production will not bypass any existing environmental clearance or review processes.

Adding certain minerals, including lithium, cobalt, graphite, nickel and manganese, to the list of elements covered by the law could give mining companies access to some $750 million under the Title Fund. III of the DPA, the person told The Hill.

The DPA, originally enacted during the Korean War to boost aluminum and titanium production, grants the president the power to order increased domestic production of certain supplies. Old President TrumpDonald TrumpTrump says he’s not interested in being president if GOP takes over House Perdue says he ‘misunderstood’ Trump supporters’ ‘lock him up’ chants about Kemp Jared Kushner who should sit for an interview with the January 6 panel this week: MORE reports relied on it during the COVID-19 pandemic for meat production, while Biden used it shortly after taking office to ramp up production of pandemic-related supplies.

The person familiar told The Hill that the White House will implement the order in conjunction with the Departments of Energy and Interior. The law will not be invoked for loans or outright purchases, but rather for funding “feasibility studies, production of co-products and by-products in current operations, and productivity/safety upgrades.”

As gas prices rise amid the conflict in Ukraine, environmental groups have frequently called on the Biden administration to invoke the DPA to help develop alternative and renewable fuels.

Bipartisan members of Congress also backed the idea. Earlier this month, Sens. Joe ManchinJoe ManchinEnergy & Environment – Oil Companies Rebuff House Speaker Manchin, Kill Biden’s New Billionaire Tax Plan US Uses Ukraine As Cover To Lock Us Into Fossil Fuels For Years To Come MORE (DW.Va.), Lisa MurkowskiLisa Ann MurkowskiSusan Collins to make Supreme Court ruling ‘relatively soon’ Lawmakers pay tribute to late GOP Rep. Don Young, lying in Capitol State, GOP Sen. No. 2, for opposing presidential candidate Supreme Court MORE (R-Alaska), James Risch (R-Idaho) and Bill CassidyBill CassidyBipartisan group of senators seek clarification on defense aid provided to Ukrainian Senate GOP eyes Hunter Biden, Fauci probes after midterm (R-La.) Called on Biden to invoke the DPA for battery materials.

They specifically cited the virtual monopoly that Chinese companies hold over the production of the materials in question, writing: “Allowing our foreign mineral dependence to persist is a growing threat to the national security of the United States, and we must take all remedial measures”.