China currently assembles 76% of the world’s batteries. Materials needed for the batteries are mostly outside the US.
The Wall Street Journal has an interesting video article Taking Apart an EV Battery Illustrates Why ‘Made in America’ Will Be Tough
I believe that is a non-paywalled link.
President Biden’s Inflation Reduction Act calls for at least 50% of an electric vehicle’s battery to be made in the U.S. to qualify for a federal discount. WSJ’s George Downs breaks down a battery to explain why that’s going to be a challenge.
California Bans Gasoline in New Car Sales by 2035
And with virtually no discussion of the implications, nor any feasible plans to deliver the mandate, California Demands More Inflation, Bans Gasoline in New Car Sales by 2035
This is one hell of a let's do it and see what happens mandate!
I can guarantee one thing, it will add to inflation, and likely in far more ways than we now understand.
The inflationary polices of Progressives in blue states, coupled with inflationary madness by president Biden, will put the Fed on hold for any recession (stagflation) fighting efforts.
Good luck with that for the stock market.
This post originated on MishTalk.Com.
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