Automakers have been hampered by the supply of semiconductors and higher interest rates.
Investments in battery factories, solar panel manufacturing and mining will help the Biden administration meet targets for reducing greenhouse gases.
The plan is part of a global push by the automaker to develop and produce electric vehicles.
There has been a surge in the sales of cars that can travel short distances on just electricity and have a gasoline engine for longer trips.
A scarcity of semiconductors and raw materials held back production, but buyers remain enthusiastic.
The electric carmaker maintained its momentum from last year even as larger automakers continue to struggle with parts shortages.
The company struggled to produce vehicles in the first three months of the year, a sign that shortages could last longer than executives had hoped.
Booming in a depressed market, battery-powered vehicles are a plus for the climate but pose a big threat to carmakers and parts suppliers that are slow to change.
The yawning disparity between the performance of the electric car company and established automakers last year reflects the technological change roiling the industry.
After struggling to produce cars because of a global computer chip shortage, automakers are trying to move quickly to making electric vehicles.