The hunt for IRA compliant battery materials and processing is really kicking in! IMO It will be hard for any OEM to be competitive in the US if they don't qualify for the full tax credit. Massive shift in supply chains and COB are well placed to benefit from this. DFS and binding partner agreement for the Kwinana refinery will put us in a great position. Followed by our mine in Broken Hill and the recovery of cobalt in waste streams with a unique IP that reduces the amount of sulphur in existing copper tailings. Exciting times are ahead!
"It appears the Detroit carmaker’s plan is starting to pay off. GM passed Ford in the first quarter for the number-two spot in North American EV sales. It will have six models eligible for the full $7,500 tax credit available to consumers through the landmark Inflation Reduction Act — more than Ford, Volkswagen, Rivian or Tesla."
"The strategy has allowed GM to benefit from the IRA not just through the consumer tax credits that effectively lower prices, but also through production subsidies — although not as much as Tesla. The production credits allow carmakers and their battery partners to earn up to $45 per kilowatt-hour. Creating a US supply chain for EV batteries requires significant investment, Kunjur said, and the IRA “definitely helped”. Tesla and battery partner Panasonic will be eligible for an estimated $1.8bn in production subsidies this year, according to research from analyst Manish Dua at Benchmark Mineral Intelligence. GM and LG Chem are eligible for the second-highest amount in production subsidies this year, at an estimated $480mn. Ford is not eligible for any until 2025."
Full article here!
