Post by
Allman on Jan 22, 2024 8:44am
LG ask US to ease EV tax benefit requirements
The likes of LG have submitted their IRA notice of proposed rulemaking comments to the U.S. Department of the Treasury and are requesting that cobalt be considered a "non-traceable battery material" and that the FEOC limit be increased from 2% to 10% - what BS! This is the sort of stuff that scares away investment dollars and until this is sorted out, which should be soon, there remains a significant risk to investing in domestic mining. Personally I can't see this request being approved as it flys in the face of the supply chain security mandate. LG and others need to start investing in domestics mines.
https://www.kedglobal.com/electric-vehicles/newsView/ked202401220021 https://www.regulations.gov/comment/IRS-2023-0059-0070
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