The Inflation Reduction Act includes subsidies for manufacturers of EV batteries, and that may mean dramatically lower EV prices in the future?
One partially “hidden” aspect of the IRA is that manufacturers who move battery cell/pack manufacturing to the US can get paid up to $45 per kwh.
While the intent of the law is largely to subsidize moving manufacturing to the US, it may be used by some Electric Vehicle manufacturers to lower the prices of their car.
However, in the short term I don’t think it’ll have an effect, and in the longer term the subsidy will help new and more expensive technologies like solid-state batteries gain a foothold faster.
Here’s the link to the IRA Law:
https://www.congress.gov/117/plaws/publ169/PLAW-117publ169.pdf
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