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US grants $500M to battery firms to challenge China's dominance in EV supply chain

Market News
08 Sep 2026
CNBC
View Source
Neutral
US grants $500M to battery firms to challenge China's dominance in EV supply chain

The US Department of Energy awarded $500 million to seven battery-related companies to reduce reliance on China, which dominates the electric vehicle battery supply chain. These grants target critical areas like mineral refining and battery component manufacturing where China holds a strong position. Despite this funding, experts say the US faces a long road to catch up due to China's scale and investment, especially after the Trump administration cut other EV incentives. The effort is seen as a necessary step to boost domestic battery production and compete globally in the growing EV market.

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