As Ford plans to invest $50 billion with a goal of producing two million EVs annually by 2026, the automaker is also partnering with a number of companies as it works to secure the raw materials it needs to support those efforts. One of those companies is SK On, with which FoMoCo recently formed a new battery production joint venture dubbed BlueOvalSK, which itself has invested heavily in its own expansion over the past several months. Now, after SK On recently signed a non-binding MOU to secure off-take for natural graphite from Syrah Resources’ processing site in Vidalia, Louisiana, that same company has also secured funding from the Department of Energy (DOE) to aid in its expansion efforts.
In total, the DOE is dishing out $2.8 billion to 20 companies across 12 states in an effort to boost domestic manufacturing of EVs and EV batteries as part of the Bipartisan Infrastructure Law. Additionally, President Joe Biden also announced the American Battery Materials Initiative, an effort to secure a reliable and sustainable supply of the critical minerals used for power, electricity, and electric vehicles (EVs).
Syrah Resources will receive around $220 million in federal funding from this round of grants, and the company will use those funds to fortify its existing facility in Vidalia, which currently produces active anode material (AAM) from natural graphite. Syrah is working on constructing a new adjacent facility that is expected to add over 100 jobs and will allow it to expand its production capabilities by 11,250 metric tons per annum (tpa) when the new plant begins operating next year, bringing its total output to 45,000tpa AAM.
Once completed, Syrah’s new facility will be the only large-scale, vertically-integrated natural graphite AAM producer outside of China. By 2026, the total U.S.-based lithium-ion battery manufacturing capacity is forecast to be almost 600GWh, which is estimated to require over 500,000 tpa graphite-based AAM.
We’ll have more on Ford’s electrification strategy soon, so be sure and subscribe to Ford Authority for continuous Ford news coverage.
Comments
American Public funding Australian mining operation and South Korean battery assembly operation to destroy and pollute land in Louisiana and take all privatize all profits.
LoL so much angst-searching FUD.
It’s called pulling one’s head out and finally doing something significant about national security energy independence and arresting climate change by incubating the new technologies needed to do this.
The companies receiving grant monies don’t get the money without meeting targets and matching the grant amount with their own investment funds.
As for pollution, the Sierra Club doesn’t seem as scared about this as you do:
“Katherine García, director of the Sierra Club’s clean transportation campaign, also applauded the Biden administration’s action, which she said would bolster the EV supply chain and cut vehicle pollution.
“Our nation’s transition to electric vehicles must be one delivered with strong standards that invest in communities, especially those overburdened by pollution. Today’s announcement does just that,” she said.”
Taxation is theft.
“Taxes are what we pay for a civilized society.” – Justice O W Holmes
Ignorant folks vomiting out stupid internet comments as above are what we must endure in order to preserve free speech.
That O.W. Holmes comment is the most overused Leftist garbage to justify the rapacious theft of private resources in America. Federal income tax + social security tax + medicare tax + state income tax + local property taxes = darn near half my income. That doesn’t count sales tax and various fees. Add those in, and the Government takes the majority of what I make. And for what? So they can funnel money to their political friends and continue their vast money laundering scheme. We definitely are NOT getting what we pay for.
Oh poor poor pitiful you dreaming of the dystopia that a tax free existence would bring.
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David,
Your excellent and rational commentary makes this website a joy for me to visit. I have been a big fan for months. Thank you for you for actively sharing your thoughts. Press on!
Your immediately previous comment of “.” was much more on the beam captain.
It’s funny, yet not surprising, how self-righteous EV leg-humpers suddenly think they’re “saving the earth” at the same time conveniently ignoring what is involved in the EV process from vehicle production to battery use. Like all the energy comes from thin air and there are no rubber or plastic pieces and any other petroleum based processes/parts. Then at the same time criticizing everyone that doesn’t “jump on board” and how that suddenly makes us the villain. If one chooses to have an EV that’s fine. Do not portend to whine about those of us that choose “NOT” to bend a knee. The world runs on oil like it or not and a few loudmouth criers is not going to change that. Esp at 50K a pop. Does anyone think a poor family of 6 in India living in a mud hut GAF about your “mission”? Or China?
BTW – taxes are essential, that’s not an argument. The problem isn’t tax revenue – the problem is the fraud, waste and abuse of our taxes. Take your blinders off.
I don’t think EV fans are demanding an oil free world. Most reasonable people would agree that oil is essential for many useful and essential produce but reasonable people would also agree that doesn’t include the vast majority of the automotive fleet.
Ps “leg humpers” are you like 13 years old? “Bend a knee”? No, seems you are stuck at about 12.
Keep justifying. It doesn’t work with everyone – just sheep.
Lol. So cartoon like. Isn’t sheep the term for legions of alpha dittohead incels mindlessly gorging and delusionally regurgitating talking points from Big Oil before they graduated to freaking over 5G surveillance chips in vaccines?