The Great Battery Materials Charade Explained
reader, you know the US Treasury and the IRS are busier than the robots at a Tesla Gigafactory. They are under pressure to release the draft rules that will determine who is eligible for the billions of dollars of federal tax credits baked into the Inflation Reduction Act. Those rules were intended to be in place by the end of 2022, but there simply wasn’t time, so Treasury said it would needto get the job done. That means they have until Friday of this week.
The problem, of course, is that China seized the opportunity presented to it and promoted the industries that are essential to most clean technologies. In particular, China now dominates the battery supply chain, from digging raw materials out of the ground to converting them into battery materials and then using them to manufacture batteries.
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