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EV tax credit rules get extension in big win for automakers

Teslarati

The electric vehicle tax credit rules got an extension on Friday as the U.S. The United States has attempted to free automakers of their dependence on foreign materials in their battery packs and each year will require a greater percentage of both battery materials and components to be sourced and built within the country.

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Biden Administration mulls over reprieve from EV tax credits for automakers

Teslarati

The reprieve would concern the eligibility of electric vehicles for the IRA’s tax incentives. One of the biggest concerns about the IRA’s requirements for EV tax credit eligibly regards battery packs, cells, and the materials used to manufacture them. We are going to have lots of battery capacity in the United States.

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S&P Global: looming shortfalls in copper supply will short-circuit net-zero goals absent significant new supply

Green Car Congress

The challenge of meeting Net-Zero Emissions by 2050 “will be short-circuited and remain out of reach” unless significant new copper supply comes online in a timely way, according to a new study by S&P Global that examines the growing mismatch between available copper supply and future demand resulting from the energy transition.

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LG Energy Solution secures lithium supply for the North American market

Teslarati

LG Energy Solution (LGES) signed an offtake agreement with WesCEF to expand its lithium supply chain for the North American market. According to the agreement , WesCEF will supply the South Korean battery supplier with up to 85,000 tons of lithium concentrate. The South Korean company is a longtime Tesla supplier.

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GM expects Chevrolet Silverado EV to get full $7,500 tax credit

Teslarati

General Motors (GM) expects the Chevrolet Silverado EV to get the Inflation Reduction Act’s (IRA) full $7,500 tax credit. Fleet customers including for BrightDrop and the Chevrolet Silverado EV will benefit from the $7,500 commercial incentive,” stated General Motors. Treasury’s proposed battery requirements for EV tax incentives.

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Cabot to invest $200M over next 5 years in US conductive carbon additives capacity for Li-ion batteries

Green Car Congress

Cabot Corporation plans to add conductive carbon additives (CCA) capacity in the United States to enhance its position in the market and support the transition to electric vehicles (EVs). As part of these efforts, federal and state governments have implemented a variety of programs in the form of grants, loans, and tax incentives.

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President Biden proposes $174B spend on EVs and chargers

Green Car Congress

Among the broad elements of the proposal are: Enabling automakers to spur domestic supply chains from raw materials to parts, retool factories to compete globally, and support American workers to make batteries and EVs. Electrifying the federal fleet, including that of the United States Postal Service.

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