U.S. to spend more than $3 billion on EV battery manufacturing -White House

FILE PHOTO: Machines are seen on a battery tray assembly line during a tour at the opening of a Mercedes-Benz electric vehicle Battery Factory, marking one of only seven locations producing batteries for their fully electric Mercedes-EQ models, in Woodstock, Alabama, U.S., March 15, 2022. REUTERS/Elijah Nouvelage

WASHINGTON (Reuters) -The Biden administration will allocate more than $3 billion in infrastructure funding to finance electric vehicle (EV) battery manufacturing, U.S. officials said on Monday.

The funds will be allocated by the Department of Energy from the $1 trillion infrastructure bill President Joe Biden signed last year. Among the initiatives will be processing of minerals for use in large-capacity batteries and recycling those batteries, the agency said in a statement.