Manufacturers of EVs will be able to apply for a tax credit if their vehicles meet minimum amounts of US-manufactured components. For miners, this indirectly creates a market for battery metals from US-allied countries.Page 386 of the act specifies the minimum thresholds of minerals contained in US-manufactured EV batteries to qualify for the tax credit. After passage of the act, at least 40% of critical minerals in US-made EV batteries must come US miners or recycling plants, or mines in countries with free trade deals with the US.This requirement will then rise by 10% each calendar year, to a maximum of 80% in 2027.The act also sets minimum percentages for the value of battery components sourced from North America required for a project to receive tax credits. Before 2024, at least 50% of the value of a US-made battery’s components must come from North America. This rises to 60% in 2024 and 2025, 70% in 2026, and then 10% more each year until reaching 100% in 2029.
The other part is carbonate price is irrelevant as Phoenix is doing Lithium Hydroxide...
