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Chile is betting that components made with its lithium will qualify for subsidies under the US Inflation Reduction Act, potentially attracting a wave of fresh investment from companies seeking to tap into the country’s vast reserves of the battery metal.
“We’re very optimistic that it will happen,” Grau said in an interview from his office in downtown Santiago. “The way the law is framed creates the opportunity.” If extended to value-added Chilean lithium, the subsidies will make it more attractive for US companies to invest in the country, said Grau, who holds a doctorate in economics from the University of Pennsylvania.
Companies that have held meetings with the Chilean government on lithium in recent months include Tesla Inc., which started local operations this year, and LG Energy Solution Ltd.
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