Trump Is Spending Billions On The Minerals That Power EVs

The Trump administration has allocated a substantial $3 billion investment in critical minerals projects across the United States. This initiative aims to secure domestic production, enhance technological sovereignty, and reduce reliance on China, despite the fact that President Trump has previously disparaged electric vehicle (EV) and clean energy industries.

The $3 billion package includes significant funding from defense and export-import agencies. Among the major projects is a $1.4 billion conditional loan from the Pentagon's Office of Strategic Capital to Sila Nanotechnologies for scaling up the production of next-generation silicon anode battery materials in Washington state. This investment will enable the company to expand its facility in Moses Lake, Washington, with the aim of supplying over 100,000 electric vehicles and other crucial tech sectors.

Additionally, Canada-based Lithium Americas has secured $435 million from a $2.23 billion U.S. Department of Energy loan to build the Thacker Pass project in Nevada, which is projected to produce 40,000 metric tons of battery-grade lithium carbonate annually. This capacity will supply enough lithium for approximately 800,000 EVs per year, marking a significant increase from the roughly 550,000 EVs that Tesla sold in the U.S. in 2025.

Other notable investments include a $25 million grant from the U.S. Export-Import Bank for a graphite deposit development in Alabama and a conditional commitment of up to $150 million from Minnesota-based Niron Magnetics for a commercial-scale manufacturing plant in Sartell, Minnesota. These projects collectively underscore the administration's commitment to bolstering the domestic critical mineral sector, recognizing the substantial demand for minerals like lithium, cobalt, and nickel in EV manufacturing.