US battery startups have found a lifeline in defense
U.S. battery startups pulled in $500 million in grants from the Department of Energy, throwing a lifeline to an industry that was on the ropes after EV incentives were slashed.
U.S. battery startups pulled in $500 million in grants from the Department of Energy, throwing a lifeline to an industry that was on the ropes after EV incentives were slashed.
The short version
- U.S. battery startups hit a rough patch when the One Big Beautiful Bill eliminated battery and EV incentives , undercutting a chunk of future demand.
- But recently, they’ve found a lifeline in the defense world, helping to power everything from drones and torpedoes to infantry radios and fighter jets.
- The Trump administration, despite its open disdain for EVs, acknowledges that batteries are an inescapable part of modern life.
What happened
And like many things in Washington these days, it’s leaning on national security as justification for its recent decisions. The latest comes from the Department of Energy, which announced Thursday that it is awarding $500 million in grants to bolster the battery supply chain in the United States.
Why it matters
The program aims to “reduce reliance on foreign sources, bolster national security, and advance American energy dominance.” Much of the money went to startups.
Summary by Nerd News Network. Read the full article at TechCrunch via the links above and below.