The U.S. is trying to reduce its reliance on China for batteries. Here's what it's up against

The Trump administration has been trying to build up the U.S. battery supply chain and reduce its reliance on China. But the funding it has set aside for the effort is small compared with what would be needed to substantially loosen China's grip on the industry, according to analysts and executives who spoke with CNBC. The Department of Energy awarded $500 million this August to seven companies related to battery minerals or materials, manufacturing or recycling. It is part of a much larger push by the administration to secure critical minerals and other materials. It also follows the cancellation of many Biden-era policies that supported battery manufacturing and funding for electric vehicles — by far the largest market globally for battery tech.This is the first round of funding by the Trump administration under two $3 billion DOE battery technology and materials programs that were created through the Biden-era Infrastructure Investment and Jobs Act. Boosting the U.S. battery supply chain had been a high priority for the Biden administration, said Richard Wang, CEO of Voya Energy, a battery technology company. "A lot of those policies have reversed themselves under the Trump admi...