US Investment In Electric Vehicle Market Aimed At Outcompeting China – White House Mohammad Ali (@ChaudhryMAli88) 5 minutes ago Fri 06th August 2021 | 12:10 AM

WASHINGTON (UrduPoint News / Sputnik – 06th August, 2021) The Biden administration's new investment in the US electric vehicle industry is partly aimed at outcompeting China , White House Press Secretary Jen Psaki said during a press conference on Thursday.

Biden is set to announce new steps aimed at advancing the impact of the Build Back Better investments to address the climate crisis.

"It's a historic investment in EV charging stations, and also as part of the investment is efforts to reduce the cost of purchasing electric vehicles , so I would say the president's commitment to making electric vehicles the vehicle of the future – further incentivizing the direction of the industry , which is already where it's headed, making us more competitive as it relates to China – is reflected both in the bill and the bill that's working its way through the Senate , also in announcements like the one that was made today," Psaki said.

The US Energy Department announced a strategy to secure the domestic supply chain for electric battery manufacturing, as well as financing for electric vehicle battery supply chains back in June .

Biden will also sign an executive order later on Thursday that sets a target for half of the new vehicles sold in 2030 to be zero-emission.