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America Is In The Middle Of A Secret Battery Boom

  • The US has been playing catch-up with China in terms of battery manufacturing until recently
  • New data from Joey Politano reveals that US' lithium-ion battery production has increased by 25% since 2023
  • The Inflation Reduction Act (IRA), which encourages the development and manufacture of green energy technologies, is credited for the increase in battery production.
  • China's global investments in clean technology manufacturing and control of the battery space is actually down from 2022 and 2023 according to the International Energy Agency (IEA) data
  • The US investment in EV battery making was $40bn between 2020 and the third quarter of 2023 alone
  • America has drastically ramped up the production and installation of huge backup batteries that can be used in power outages this year
  • Battery factories are springing up all over the US to support the EV sector—including in red and purple states
  • President-elect Donald Trump has vowed to repeal the provisions of the IRA, get rid of EV tax credits and incentives and claw back unspent funds
  • If the US wants to compete against China and avoid becoming purely an importer of the world's next-generation tech, then it should prioritise domestic battery production

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