The U.S. Treasury Department on Friday gave automakers additional flexibility on battery mineral requirements for electric vehicle tax credits on some crucial trace minerals from China, such as graphite.
Graphite powder, used for battery paste, is pictured in a Volkswagen pilot line for battery cell production in Salzgitter, Germany, May 18, 2022. REUTERS/Fabian Bimmer/File Photo
Treasury has temporarily exempted graphite and other trace critical minerals from new strict rules barring materials from China and other countries deemed a Foreign Entity of Concern , including North Korea, Russia and Iran. The new rules, required under an August 2022 law, are designed to wean the U.S. EV battery chain away from China.
China currently accounts for 70% of global output of graphite, which is used to make electric battery anodes, the negatively charged portion of the battery.
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