The Biden administration’s efforts to boost domestic battery manufacturing for electric vehicles (EVs) are facing a challenge due to the reliance on critical raw materials that are predominantly sourced from abroad, with China controlling a significant portion of the supply.
The significance of this issue lies in the impact it will have on tax credits designed to make EVs more affordable for average Americans. The origin of raw materials such as lithium, nickel, cobalt, and graphite used in EV production will play a crucial role in determining eligibility for these tax credits.
\MORE INFO: Axios
\IMAGES FROM: Axios Photo: Li Yalong/China News Service/VCG via Getty Images.
