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S&P Global: US faces new challenges meeting increased demand for critical minerals spurred by IRA

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However, ensuring enough qualifying supply to meet that demand faces “considerable challenges,” according to a new analysis by S&P Global. Copper is not currently listed as a critical mineral in the United States and does not qualify for IRA tax credits. Nickel is the most challenged in terms of supply, the study says.

Global 370
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President Biden calls on Congress, States for fuel tax holiday; increase in refinery capacity

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President Biden called on Congress to suspend the federal gas tax for the next 90 days, through the busy summer driving season—18 cents per gallon for gasoline and 24 cents per gallon for diesel. He also called on states to suspend their state gas taxes as well or to find other ways to deliver some relief.

Congress 259
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T&E: two-thirds of European battery production at risk as companies weigh investing in US instead

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More than two-thirds (68%) of lithium-ion battery production planned for Europe is at risk of being delayed, scaled down or cancelled, according to new analysis by the European NGO Transport & Environment. Battery production capacity equivalent to 18 million electric cars—1.2 Europe must act or risk losing it all.

Companies 430
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Lunaz to begin production of electric classic Range Rovers; prices begin at £245,000 excluding local taxes

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Lunaz, a creator of electric classic cars, announced the first tranche of production availability for classic electric Range Rovers. Prices for classic electric Range Rovers by Lunaz start at £245,000 (US$329,000) excluding local taxes. From the start of production, fully roofless options will be offered.

Tax 286
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SAFE Report: electricity shortfalls impede IRA’s materials production goals

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This paradox requires equivalent supply and demand-side policies to simultaneously reduce power and transportation sector emissions and emissions of aluminum production, the report says. DPA supports the domestic production of strategic materials, including aluminum, used in large-capacity batteries used in EVs and military systems.

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Benchmark: global battery industry needs to invest $514B to meet demand in 2030; $920B by 2035

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Globally, the battery industry needs to invest at least $514 billion across the whole supply chain to meet expected demand in 2030, and $920 billion by 2035, according to a new analysis by Benchmark. TWh of batteries needed by 2030 will require $201 billion and the midstream production of battery materials will take the remaining $93 billion.

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Ansys releases pre-lockdown global survey on vehicle electrification

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Before the COVID-19 pandemic lockdowns, engineering simulation software company Ansys commissioned a global survey of 16,037 adults resulting in some insights about consumer attitudes toward vehicle electrification. US respondents are most likely to buy an EV if the government offers a federal/state tax credit.