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Inflation Reduction Act will hinder EV growth

Ronald Stein
USA - World
2022
CFACT cfact.org

After his mandate to transition to electric vehicles (EVs), President Joe Biden then signed The Inflation Reduction Act (IRA) that requires EVs to contain a battery pack and other parts built in North America with minerals mined or recycled in America. With the chance of strip mining for lithium in America being slim to nil, no EVs will qualify for the tax credits in the IRA.

The actions of the Biden government and the Environmental, Social and Governance (ESG) divesting in fossil fuels movement are currently supportive of jumping onto the EV train, but Biden and the “ESG-ers” may be oblivious that EV’s have a very dark side of environmental atrocities, and the non-existing transparency of human rights abuses occurring in other countries.