Reuters reveals U.S. steps away from flagship lithium project with Buffett’s Berkshire Hathaway – Reuters News Agency

Business & Finance

Reuters exclusively reported that the U.S. Department of Energy has pulled government funding for a lithium project from Warren Buffett’s Berkshire Hathaway — which President Joe Biden called a “big part” of his plan for the U.S. to produce more of its own minerals for the electric vehicle revolution.   Reuters obtained internal emails and documents showing that Berkshire and Washington officials negotiated for more than 13 months — far longer than is typical — over patents, technology changes, and even whether Berkshire could one day sell its lithium business, before funding was pulled this past March. Neither Berkshire nor Washington announced the development. The news reveals how Biden’s plan to shift the U.S. economy away from fossil fuels faces significant technical and business challenges

Article Tags

Topics of Interest: Business & Finance

Sectors: Equities

Countries: US

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Significant National Story

Source link