“Inflation Reduction” Act Will Hinder EV Growth

PA Pundits International

By Ronald Stein ~

After his mandate to transition to electric vehicles (EVs), President Joe Biden then signed The Inflation Reduction Act (IRA) that requires EVs to contain a battery pack and other parts built in North America with minerals mined or recycled in America. With the chance of strip mining for lithium in America being slim to nil, no EVs will qualify for the tax credits in the IRA.

Biden’s goal of 50% EV sales by 2030 will test lithium supply chains and the economic strength of the American society to meet those projections without any subsidies to procure those vehicles.

While the race is on to produce more lithium in the United States as the supply chain for the major component of EV batteries, lithium, is already being compromised internationally. The following international dark clouds on the lithium supply chain may be a prelude to an American rejection…

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