TSXV:NGC - Post Discussion
Post by
youknowwhat on May 17, 2024 12:52pm
Pav Jordan
It follows a decision by the Biden Administration announced on May 3 that granted Original Equipment Manufacturers ("OEMs") a two-year "transition" period to source Battery Anode Material (BAM) from China while local North American production is established. The Administration's decision requires OEMs to commit to offtake agreements with North American graphite producers in the interim, in order for their EVs to continue qualifying for a US$7,500 tax credit and so that they can source from the domestic supply chain when the two-year exemption from FEOC (Foreign Entity of Concern) requirements expires at the end of 2026.
Is there a date the OEM's have to enter into off take agreements or can they kick the can down the road to December 31 2026 at midnight.
I thought they had until July 6 2024 to show the US powers to be their plan. Hey Mr Vice President of Communications could you clarify that.
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