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The U.S. Treasury Department gave automakers, Friday, additional flexibility on battery mineral requirements for electric vehicle tax credits on some crucial trace minerals from China, such as graphite.
Chinese Graphite In EV: China currently accounts for 70% of global output of graphite, which is used to make electric battery anodes, the negatively charged portion of the battery.
Under revisions from Biden agencies revealed Friday, more EVs are likely to qualify for the full $7,500 tax credit amount in 2025 and 2026, but it will be no easier for Chinese companies to get in.
The U.S. Treasury Department on Friday gave automakers additional flexibility on battery mineral requirements for electric vehicle tax credits on some crucial trace minerals from China, such as... -May 03, 2024 at 10:12 am EDT - MarketScreener