Blank check for Nano One Materials!"But wait. There's an important caveat in the new, friendlier language. U.S. auto-makers are now calling the new credit practically useless, under current conditions.
For an electric car to qualify for the maximum $7,500 US in the new version of the credit, the car's battery will increasingly need North American components: from 50 per cent of the battery in 2024, to 100 per cent in 2028.
The problem? North America doesn't make that many battery components.
No vehicles would qualify for the full credit when additional sourcing requirements go into effect. Zero," said a letter from a U.S. auto industry lobby group
An analysis for the non-partisan U.S. Congressional Budget Office projected that only a tiny percentage of vehicles will wind up receiving the tax credit.
In a 10-year fiscal forecast for the bill, the CBO estimated the U.S. treasury will wind up paying out just enough to deliver the full credit to slightly over 1 million vehicles over a decade.
That amounts to less than one per cent of an estimated 150 million total vehicle sales in the U.S. over those 10 years. During that period, an increasing percentage of vehicles sold will be electric.
The bottom line: Very few cars are expected to have enough North American components to qualify."
THAT`S WHERE >> NANO ONE MATERIALS << COMES IN.
https://electrek.co/guides/nano-one/
https://nanoone.ca/news/news-releases/