We are poised for a big breakout. See media release today below
In the US the pace of EV battery integration is growing rapidly. Since President Biden took office, companies have invested nearly $85 billion in manufacturing of electric vehicles, batteries, and EV chargers in the United States. The pace of this investment is accelerating – just in 2022, companies have announced $13 billion in domestic EV manufacturing – more than triple the investment in 2020. Companies have also announced $24 billion in batteries – more than 28 times the investment in 2020 – and over $700 million to support EV charging. The number of electric vehicles sold in the U.S. has tripled since the President took office. Interestingly Tesla announced overnight that it has paused battery production in Germany as it considers making batteries in the U.S. The move is in response to the recently signed Inflation Reduction Act and the potential for qualifying for U.S. tax credit.
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