Matthew Daly/Associated Press

A Nevada company that recycles batteries for electric vehicles has won a $2 billion green energy loan from the Biden administration. Redwood Materials, a recycling venture founded by the former chief technology officer at Tesla, secured a conditional loan from the Energy Department's Advanced Technology Vehicles Manufacturing program, which helped Tesla more than a decade ago. Energy Secretary Jennifer Granholm was set to tour Redwood's facility in Nevada with Nevada Gov. Joe Lombardo on Thursday. Redwood recently announced plans to build a new $3.5 billion battery manufacturing and recycling factory in South Carolina.

The Biden administration on Wednesday awarded $2.8 billion in grants to build and expand domestic manufacturing of batteries for electric vehicles in 12 states. A total of 20 companies will receive grants for projects to extract and process lithium, graphite and other battery materials, manufacture components and strengthen U.S. supply of critical minerals. The announcement comes as the administration seeks to boost production and sales of electric vehicles as a key part of President Joe Biden's strategy to slow climate change and build up U.S. manufacturing.

The Environmental Protection Agency says a U.S. Postal Service plan to replace its huge fleet of mail-delivery trucks has too few electric vehicles and falls short of President Joe Biden's goals to slow global warming. In a sharply worded letter, the EPA says the Postal Service plan to make 10% of its next-generation fleet electric is a "crucial lost opportunity to more rapidly reduce the carbon footprint of one of the largest government fleets in the world." A Postal Service spokeswoman says the agency is reviewing the EPA letter.