It has more than 800 confirmed cases, and is the second state in three days to announce emergency measures. I’ve combed the internet to find you today’s most fun/important/scary/fascinating stories about technology.ġ California declared a state of emergency over its monkeypox outbreak But whether those changes will come fast enough to keep up with booming EV sales remains very much an open question. The bigger picture: The ambitious EV tax credits could play a role in building domestic battery manufacturing and encouraging new supply chains in the US-and are an obvious attempt to slow China’s battery dominance. While the restrictions could help to build a secure supply chain for batteries in the US in the long term, some experts are uncertain how quickly US companies will be able to respond. The legislation is an attempt to incentivize companies to build more capacity for mining and battery manufacturing in the US. The US manufactures only about 7% of global supply. Why it matters: Currently most lithium-ion cells for EV batteries are built in China. The hitch? For a new vehicle to qualify for the tax credit, its battery and the key minerals used in it need to come mostly from the US or from countries it has free-trade agreements with. One of the bill’s key components is an extension of electric vehicle tax credits, which are designed to help push adoption of EVs by giving buyers $7,500 credit towards purchasing a qualifying new electric vehicle, or $4,000 for used cars. The news: The US Senate Democrats released a bill last week that could significantly cut the country’s carbon emissions.
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