How much will the Energy Department spend on batteries?

The Energy Department is making a push to strengthen the U.S. battery supply chain, announcing Wednesday, Nov. 15, 2023, up to $3.5 billion for companies that produce batteries and the critical minerals that go into them. (AP Photo/John Locher, File)

What is the size of the lithium battery market?

The global market for lithium batteries is expected to reach $105 billion by 2025 and the demand is set to increase 10 times over the next decade. ABF enters the market at a historic inflection point.

Does China have a lithium-ion battery supply chain?

China has long controlled the supply and manufacture of lithium-ion batteries. The country’s grip on that supply chain began to loosen after automakers, hesitant to repeat the chip shortage crisis that hampered manufacturing during the pandemic, began promising to build EVs and batteries closer to home in 2021.

Are batteries a climate solution?

The Energy Department is making a push to strengthen the U.S. battery supply chain, announcing up to $3.5 billion for companies that produce batteries and the critical minerals that go into them. Batteries are seen as an important climate solution because they can power cars, which are a major cause of climate change when they burn gasoline.

Are American battery factory batteries safe?

The safest, domestically produced lithium batteries for a cleaner world. American Battery Factory (ABF) focuses exclusively on manufacturing and enhancing high-performance prismatic Lithium Iron Phosphate (LFP) batteries – the safest, longest-lasting, most reliable and eco-friendly batteries available today.

Where is Kore power's lithium-ion battery factory located?

Coeur d’Alene, Idaho-based KORE Power has chosen Siemens as its infrastructure technology partner for its lithium-ion battery factory – it’s the first US li-ion battery factory to be fully American-owned. The “KOREPlex” is in Buckeye, Arizona.