Fortune Minerals Limited. T.FT

A fight over the future of electric vehicles is unfolding

[Allman]

Until the IRA rules are promulgated and what's considered "a foreign entity of concern" is defined, FT's progress will likely be impeded. The good news is that these issues should be resolved soon.

... A struggle is unfolding in Washington over who will make the electric vehicles ...
The specific flashpoint is the landmark Inflation Reduction Act, and the large tax credits it offers American consumers for buying an EV. ...
The U.S. government is now writing the rules to implement this law, arguably the biggest legislative achievement of the Biden era.
The clash, in a nutshell, revolves around a question: What is the main goal here?
Is it to sell more electric vehicles, more quickly, speeding the transition to a low-carbon economy?
Or is it to achieve the slower, steadier re-industrialization of North America — one that would reduce long-term reliance on China and draw manufacturing here as part of what the White House has taken to calling Bidenomics?
That debate is playing out as the U.S. Treasury Department studies public comments while designing its tax credits — which are worth up to $7,500 per car.
The Treasury Department released an interim draft this spring and gave everyone until June 16 to weigh in on a series of highly technical judgment calls it needs to make. ...
The final rule should be out soon. 
Then there's another, related, battle ahead. Starting next year, the Inflation Reduction Act forbids tax credits going to batteries produced by a so-called foreign entity of concern.
Those details still need to be defined.
So it's unclear what that incoming rule will mean for carmakers, inside the U.S., that buy batteries from the Chinese giant CATL.
... uncertainty looms over the industry ...

https://www.cbc.ca/news/world/ev-regulations-inflation-reduction-act-analysis-1.6894282#content