The current USA IRA Act offers tax credits of up to $35 USD per...

• The current USA IRA Act offers tax credits of up to $35 USD per kWh of battery.
• The batteries in Tesla Model 3 range from 60 kWh to 82 kWh, i.e total tax credit benefit of $2,100 USD to $2,870 USD.
• Each batteries contains 5 to 8kg of lithium, around 25 to 50 kg of LCE, or $1,000 to $2,000 USD of material.
• So effectively, the cost of raw materials is close to free for Tesla material procured from free of Foreign Entities of Concern (FIC).
• Currently battery materials procured from Chile and Australia are eligible tax credits, but Argentina does not have FTAs.
• So present IRA Act is likely to spur waves of US battery gigafactories.