Summary
- Inflation Reduction Act of 2022 focuses on bringing back manufacturing jobs to the US, specifically in the cleantech industries
- Legislation blocks EVs using battery supplies from China from being eligible for tax credits
- Panasonic Energy, a major battery supplier for Tesla, aims to reduce dependence on Chinese supplies
- Tesla’s US batteries may soon have less Chinese-processed minerals
- Supporting independent cleantech coverage can help accelerate the cleantech revolution
Article
The Inflation Reduction Act of 2022 focused on bringing manufacturing jobs back to the US, particularly in the cleantech industry. This included incentives for green collar jobs in the EV, battery storage, and solar sectors. The legislation aimed to limit tax credits for EVs with battery supplies from China and promote reshoring of manufacturing jobs in the US. Panasonic Energy, a major battery supplier for Tesla, is reportedly working to increase its battery supplies from the US to reduce dependence on China. This move is expected to impact Tesla’s battery sourcing and could lead to a decrease in Chinese-processed minerals in Tesla’s batteries.
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In conclusion, the Inflation Reduction Act of 2022 prioritized bringing manufacturing jobs back to the US, particularly in the cleantech sector. By incentivizing green collar jobs and reshoring manufacturing activities, the legislation aimed to boost the growth of industries like EVs, battery storage, and solar energy. Companies like Panasonic Energy are exploring ways to reduce reliance on Chinese battery supplies, which could have implications for Tesla’s sourcing strategies. Supporting independent cleantech coverage through donations can help accelerate the transition to clean energy technologies and promote sustainability.
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