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Home»Tech News»Can battery recycling help end US reliance on China? – DailyTech
Tech News

Can battery recycling help end US reliance on China? – DailyTech

August 29, 2022No Comments1 Min Read
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Can battery recycling help end US reliance on China? – TechCrunch
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The Inflation Reduction Act, signed into law by President Joe Biden earlier this month, puts the U.S. on the path toward realizing its carbon reduction goals, in part by spurring its EV market. It has also plunged that same market into short-term chaos by requiring entire supply chains to be restructured in just a few years.

The catalyst is the IRA’s steep requirements around where automakers can shop for critical battery materials if they want to be eligible for the $7,500 Clean Vehicle tax credit. China, the world’s largest producer of such supplies, is not on the list.

As a result, many in the industry are swiveling their heads toward battery recycling companies that promise to supply automakers with at least some of the materials they’ll need in the coming years to produce the wave of EVs coming to market. This space has already seen substantial recent VC investment, particularly as millions of tons of lithium-ion batteries are expected to retire by 2030.

The new legislation has sent a signal to recyclers, battery producers and automakers that 2030 is not soon enough.

Ending reliance on China

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See also  This startup wants to scale anonymous mental health support – starting with founders – DailyTech
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Elementor #32036

The Redmi Note 13 is a bigger downgrade compared to the 5G model than you might think

Xiaomi Redmi Watch 4 is a budget smartwatch with a premium look and feel

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