US is restricting Chinese car batteries? To hear about US restrictions on China!!

#ChineseCar #NewEnergy #electricvehicles Is it true that the United States is restricting Chinese car batteries? It is not surprising to hear about US restrictions on China in the semiconductor industry, but just yesterday, the United States introduced a new regulatory policy in the electric vehicle industry, which is unexpected because it is targeting their own companies. What could be the reason behind such strict regulatory measures on American businesses? The latest policy states that from 2024 onwards, US-made electric vehicles that contain battery components and minerals manufactured in China will no longer be eligible for a $7,500 tax credit. This means that starting next year, electric vehicles equipped with Chinese batteries will not have any price advantage in the US market. It can be said that this restriction policy will slow down the transition from fuel-powered cars to electric vehicles in the United States. At a time when countries around the world are competing for the electric vehicle market, the United States has chosen to slow down its own transition pace and implement policies at the expense of its domestic automakers’ interests. What is the US thinking? According to the United States, these measures are meant to stimulate the domestic battery manufacturing industry and strengthen the country’s supply chain dominance in the electric vehicle industry. Historically, the United States has been heavily reliant on petroleum energy, and its government support for electric vehicles is not as strong as that of China and European countries. They depend on imports, even for products like batteries that have a high pollution output during the manufacturing process. In a way, this has provided an opportunity for China to rise in the battery manufacturing industry, as exemplified by companies like CATL (Contemporary Amperex Technology Co. Limited). Currently, a significant portion of the United States relies on batteries manufactured in China. In addition, the minerals such as lithium, cobalt, and nickel used in battery production are also imported from China. However, in recent years, with advancements in clean energy technology, the United States wants to regain control of the battery manufacturing industry and strategically limit the role of Chinese companies in the US electric vehicle supply chain to reduce dependence on them.