The Biden administration has pledged $3.1 billion to start manufacturing batteries for electric vehicles in the US, as part of its massive push toward widespread electric vehicle adoption and sales. The money will not only be used to build new factories to produce EV batteries and associated parts, but it will also go towards converting factories that already exist. The funding is part of the Bipartisan Infrastructure Law enacted in 2021 and is a drop in the bucket compared to the broader $1.2 trillion infrastructure package that will fund roads, bridges, rail, transit, and the electric grid. …