China Dominates World’s Nickel Supply Needed for U.S.-Made Electric CarsJohn Binder 6 Jul 2023
China now dominates the world’s supply of nickel, a critical mineral needed to manufacture batteries for Electric Vehicles (EVs) in the United States, a new report details.
By rapidly expanding its growth across Indonesia, a country that sits on a vast nickel ore supply, China has been able to dominate the market for critical minerals that the U.S. needs to produce EVs — an issue for any “Made in America” agenda, especially one laid out by President Joe Biden’s administration.
According to the Wall Street Journal, China’s moving in on Indonesia’s nickel supply “is a blow to U.S. efforts to lessen American firms’ dependency on China,” with the Biden administration being largely outpaced.
The Journal reports:
President Biden’s signature clean-energy policy, the Inflation Reduction Act that passed last year, ties electric-car subsidies to mineral-sourcing requirements. That means it matters more than ever where a mineral is extracted and refined—and by whom.
To qualify for certain subsidies, the law requires that EV batteries will soon have to largely contain minerals from the U.S. or a country with which the U.S. has a free-trade agreement. That excludes Indonesia. Chinese firms’ heavy involvement in Indonesia’s nickel operations is also likely to attract scrutiny under its provisions.
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https://www.breitbart.com/politics/2023/07/06/china-dominates-worlds-nickel-supply-needed-for-u-s-made-electric-cars/
