US government invests $20 million in Electra Battery Materials for cobalt plant in North America
The investment targets the EV supply chain by funding North American companies to secure essential metals, combating market challenges
The US Defense Department has announced an investment of $20 million for Canada’s Electra Battery Materials Corp, aimed at bolstering North American production of a critical material necessary for manufacturing large capacity batteries, which is anticipated to significantly support the region's emerging electric vehicle (EV) supply chain.
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