This deal is massive.
Apart from the direct investment and grants / loans that will be available, as I understand it the proposed EV credit of $7500 relies on having a battery with a minimum proportion of locally (or country with US Free Trade Agreement) sourced battery critical materials.
The percentages are:
⁃40%+ before 2024
⁃50%+ in 2024
⁃60%+ in 2025
⁃70%+ in 2026
⁃80%+ after 2026
-100% after dec 31, 2028
Snip below:
Holy smokers.
With graphite being a large portion of the critical materials in a battery (i.e. more than the whole cathode by weight) folks are going to have to figure out where they get their graphite from, FAST.
NVX's target of 150k by 2030 might soon need a serious update.
Cheers
CB
Media Watch - NVX related, page-7037
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