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Toyota digs for Lithium

Revenge of the Electric Car

Toyota uses nickel-metal-hydride batteries for the current Prius hybrid but has decided on lithium-ion batteries for future plug-in models. Boliva has around 50 percent of the world’s lithium reserves, but does not yet mine the metal, while Chile, China and Brazil also hold big reserves.

Toyota 124
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Zero EVs May Qualify For the Federal Tax Credit Under the Inflation Reduction Act Requirements

EV Adoption

The critical materials in the battery that were extracted or processed in a country with a free trade agreement (which includes Australia, Chile, South Korea, etc.) Today, too many of the tax credits go to people replacing a Prius hybrid with an EV, which does very little to actually produce a net decline in GHGs.