The Inflation Reduction Act states that to qualify for Tax Credit:
“To be eligible, vehicles must be assembled in North America. And certain vehicle components needed to build them must be substantially friendshored, with percentages that escalate each year. Raw critical minerals used in EVs must come from North America or free trade agreement partners. And manufactured battery components must come from North America. Any critical minerals or battery components from China, Russia, or other “foreign entities of concern” will disqualify a vehicle from eligibility, starting in 2024 for battery content and in 2025 for critical minerals.”
That dynamic you mention will change very quickly once the analysts realise that you can have 100’s of Lithium producers churning out IRA compliant Lithium but if one gram of non compliant Graphite (Natural or Synthetic) gets put into a cell with it - the whole battery pack is non compliant and will not qualify for the Tax Credit…
The effect that little piece of legislation will have cannot be understated for Syrah IMO.
DYOR IMO
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