North American Battery & EV Supply Chain Investment Grew to More than $250 Billion by End of 2023
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Cumulative battery and EV supply chain investment in North America grew to more than $250 billion by the end of 2023. Investment in battery and EV supply chains increased rapidly after the passage of the Bipartisan Infrastructure Law (BIL) on November 15, 2021, and the Inflation Reduction Act (IRA) on August 16, 2022. Investment by manufacturing product shows that cell production accounted for about half of all investments by the end of 2023, followed by EV assembly (22%) and minerals (12%).
Notes:
BIL — Bipartisan Infrastructure Law, November 15, 2021.
IRA — Inflation Reduction Act, August 16, 2022
EVSE — Electric Vehicle Supply Equipment
AAM — Anode active material
CAM — Cathode active material
Source: Argonne National Laboratory, Quantification of Commercially Planned Battery Component Supply in North America through 2035, March 2024, Figure 5.
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Courtesy of Department of Energy
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