A new U.S. clean energy law offers generous tax credits — up to 40% of costs — in what is a “massive, massive incentive” for E.U. tech companies producing in America, Norwegian CEO says.
— are much larger and richer than others. But to compete with the U.S., the E.U. relaxed those restrictions for clean industries, marking a fundamental change for Brussels from its long-held view that government should take a hands-off approach to free markets.
“You might have more proximity, but the cost will be much higher” if global supply lines disappear, she warned. “Will the consumer be willing to pay?” , which it called the biggest single investment ever for a standalone battery manufacturing facility in North America., LG “aims to respond to the fast-growing needs for locally manufactured batteries on the back of the IRA,” the company said.by 2025 and batteries for energy storage systems a year later.
“It’s important for us to produce batteries on both sides of the Atlantic because our customers and our supply chain partners want us to be present in both places,” CEO Jensen said at an opening ceremony for a pilot plant in Mo i Rana.
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