U.S. Pledges $2 Billion for Battery, Materials Producers

The Trump administration agreed to provide more than $2 billion in funding for companies producing batteries and critical minerals, adding to a wave of government cash aimed at weaning the U.S. off Chinese suppliers.

President Trump announced at a Friday roundtable with mining executives that the Defense Department has committed to lend next-generation battery company Sila Nanotechnologies $1.4 billion, and signed deals with three other companies.