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Biden wants to cut into China's electric battery dominance
Posted on 2022-02-23 13:07:14
U.S. President Joe Biden highlighted his efforts to counter China's dominance
of the electric battery market as he touted domestic efforts to mine and
process lithium and rare metals.

Biden on Tuesday said he is awarding $35 million U.S. dollars to MP
Materials.

The Las Vegas-based company mines rare earth metals along California's border
with Nevada.

The money will help MP improve its capabilities to process the metals
domestically.

The metals are used in magnets that go into electric batteries.

Biden also touted efforts to extract lithium from around Southern
California's Salton Sea.

Lithium is another key element used in electric batteries.







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