China’s control over a crucial battery material will make it nearly impossible for any electric-vehicle makers to qualify for Biden's subsidy scheme, South Korea has warned.
China’s control over a crucial battery material will make it nearly impossible for any electric-vehicle makers to qualify for Biden's subsidy scheme, South Korea has warned.
thats what they get for stalling on green tech for so long.
us oligarchs seem to simultaneously know for decades and just noticed climate change will actually happen.
But Chinese companies control more than 99 per of the global market for battery-grade graphite and 69 per cent of the market for synthetic graphite used in battery anodes, according to consultancy Benchmark Minerals Intelligence.
Without an exemption to the FEOC rules for battery makers to secure graphite from Chinese suppliers, it is possible that no vehicles will qualify for the generous tax credits that the Biden administration is offering EV buyers, Ahn Duk-geun, South Korea’s minister of trade, industry and energy, told the Financial Tim
Sounds like a good way for them to say "sorry, we told you electric cars just can't work!"
Isnt that a good thing though ? Encourage munfactoring these components in the US and reduce reliance on China?
Yup, this was probably anticipated. Throw some subsidies out there, but ensure that they have to include the full supply chain. Anything less leaves the US just as vulnerable as it was before.
I thought this was going to be about rare earth metals. Fucking graphite?