EU Wants in on IRA EV Benefits
Sponsor: There's a reason over 2.6 million people start their day with Morning Brew—the daily email that delivers the latest news from Wall Street to Silicon Valley. Business news doesn't have to be dry and dense...make your mornings more enjoyable, for free.
(Sponsorships allow me to produce this publication & send it out to everyone for free—if you’re keen to sponsor a CH email please respond for details) :)
EU, US set up task force to resolve electric vehicle feud / The Associated Press
The US Inflation Reduction Act includes a lot of incentives to produce electric vehicle-related components in the United States: that’s part of the point of the IRA, and most analysts suggest it’ll be pretty successful in that regard (though some aspects of the EV supply chain will take more time to near-shore or friendshore than others).
The European Union doesn’t like that the IRA discriminates in favor of US-based companies and is trying to negotiate a means of getting their EV-related products included under its favorable umbrella of economic impacts (which would seem to fit under the aforementioned “friendshoring” ambition).
Other US allies (especially those in Southeast Asia, like South Korea) are also angling to get their products in on these IRA-related benefits.
Also: Tesla said to face criminal investigation by the Department of Justice over self-driving claims
If you’re enjoying Climate Happenings, you might also enjoy my other publications, One Sentence News and Brain Lenses.