Here Comes the US Battery BOOM

If President Joe Biden gets his way, this year will kick off a bonanza of battery manufacturing across the US.

Dozens of companies have announced plans to open factories devoted to electric vehicle battery production, spurred by federal incentives and a growing market for cleaner cars. Under the Inflation Reduction Act, Biden’s signature climate policy, Uncle  Sam will start giving new tax credits in January for making critical technologies in the country. That’s many extra carrots for carmakers already plotting ways to “onshore” more of their supply chain after being hobbled by the pandemic and the trade war with China.

It also means an entire domestic industry must develop, basically from scratch. “This much lithium-ion batteries are produced on US soil,” says Aaron Bent, chief executive officer of 6K Inc., holding his fingers in the sign for zero.

Bent’s business is one of those trying to change that. Based in Massachusetts, 6K makes materials for the cathode in lithium-ion batteries, the primary energy source for EVs. The company touts what it calls a unique approach that uses plasma machinery—Bent compares it to an 8-foot-long lightsaber—to forge the materials for a workable battery, dramatically reducing the water, waste and money required. “It’s clean. It’s green. And it’s lower-cost than Asia,” he says. “It sounds like magic.”