Arafura Seltene Erden Ltd, page-11

Straight from the article for anyone interested:

”Plug-in electric vehicle (EV) sales have quadrupled since President Biden took office, hitting record numbers last year and with U.S. sales projected to reach 1.9 million in 2024, according to Bloomberg New Energy Finance (BNEF). So far in 2024, each month has seen a higher EV market share than the previous year.

Even as EV sales grow, the U.S. still depends on foreign sources for many of the processed critical minerals needed to produce EV batteries. Through the President’s Investing in America agenda, the Biden-Harris Administration has taken swift action to secure a reliable and sustainable battery supply chain sourced predominantly in America and allied trading partners.

A key element of this action is the implementation of the FEOC provision in the BIL. The BIL defines a FEOC in part, as an entity that is “owned by, controlled by, or subject to the jurisdiction or direction of a government of a foreign country that is a covered nation.” Covered nations are defined in BIL as China, Russia, Iran, and North Korea.”