WASHINGTON - The Responsible Battery Coalition (RBC), a coalition of industry leaders committed to the responsible management of all batteries and securing a robust and resilient supply chain for critical battery materials, today celebrated the announcement that Project Vault, an Export-Import Bank of the United States (EXIM) initiative, is officially operational, marking a major milestone in the Trump Administration’s efforts to secure critical mineral independence.
VaultCo, a public-private partnership established by the EXIM, today announced the launch of Project Vault with $1 billion in combined private-sector commitments. The initiative will build a strategic reserve of critical minerals to shield American manufacturers from supply disruptions and reduce reliance on unreliable supply chains.
"The launch of Project Vault represents an important step toward reducing our dependence on China for battery materials and ensuring the American battery industry has the resources they need to compete," said Steve Christensen, executive director of the Responsible Battery Coalition. "It's a win for every American who depends on a battery to start their car, help power their home, or keep essential back-up services running. We applaud EXIM and its partners for turning this vision into reality."
The announcement comes as Chinese President Xi Jinping begins a state visit to the United States, with critical mineral supply chains among the issues expected to be discussed during his meeting with President Donald Trump.
Currently, China controls the majority of global sourcing and processing for several minerals vital to U.S. battery manufacturing. Securing reliable access to materials such as antimony, lead, lithium, copper, and tin will strengthen domestic battery production and safeguard the supply chains that power almost every aspect of American lives.
Project Vault also advances the broader supply chain priorities outlined in RBC's joint report with the Coalition for a Prosperous America, Wartime Footing: How the United States Can Reverse China's Dominance of Battery Minerals Processing. The report calls for strengthening domestic and allied mineral processing, recycling, and manufacturing capabilities to reduce America's dependence on Foreign Entity of Concern-controlled supply chains.
RBC looks forward to continuing its work with EXIM and industry partners to advance American critical mineral security and strengthen the domestic industrial base.
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About RBC
The RBC is a coalition of companies, academics, and organizations committed to the responsible management of the batteries of today and tomorrow. Members include: Advance Auto Parts, AutoZone, Capital City Ventures, Clarios, ENTEK, FedEx, Honda, and O’Reilly Auto Parts. RBC was created in April 2017 to advance the responsible production, transport, sale, use, reuse, recycling, and resource recovery of transportation, industrial, and stationary batteries and other energy storage devices. For more information: https://www.responsiblebatterycoalition.org/
