Trump Unveils $3 Billion Mineral Funding, Giving EV Supply Chain a Boost

3 articles · Updated · POLITICO · Aug 12

$3 billion in new federal support for mineral projects is set to strengthen the EV sector’s upstream supply chain, even though Trump framed the move around national security and reducing reliance on China.
The funding includes grants and loan guarantees for mining and battery-material companies whose output feeds EV production; Westwater Resources said its graphite business could benefit from a $25 million federal loan for an Alabama processing plant.
The move adds to other Trump-backed mineral efforts with EV links, including an equity stake in Lithium Americas’ Thacker Pass project and February’s $12 billion Project Vault stockpile for emergency mineral access.
That support contrasts with Trump’s broader anti-EV record: his administration scrapped the $7,500 EV tax credit, resisted charging-infrastructure funding and moved to revisit Biden-era vehicle emissions standards.
The policy split comes as global EV demand keeps rising and oil-market turmoil tied to the U.S.-led war with Iran sharpens the strategic value of battery minerals.