US grants $754.9M loan to Australian company for Tennessee graphite plant to reduce reliance on Chinese imports.

The US Department of Energy has granted a $754.9 million loan to Novonix, an Australian graphite maker, to build a manufacturing facility in Chattanooga, Tennessee. The project aims to reduce US reliance on critical minerals, especially from China, by producing graphite for lithium-ion batteries. Meanwhile, US graphite producers are urging the government to impose a 920% tariff on Chinese graphite imports, citing unfair competition from artificially low prices.

3 months ago
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