fromFortune
5 days agoTrump's EV tax credit cuts are fueling a U.S. battery surplus that could lead to factory cancellations, 'a poison pill for U.S. manufacturing hopes'
Announced investments in battery manufacturing peaked in 2022, following the Biden-era Inflation Reduction Act meant to incentivize the production of electric vehicles and components, according to June 2025 data from research firmRhodium Group. In 2024, investments fell 80% from that 2022 peak, and in the first three months of 2025, companies cancelled a record $6 billion in battery manufacturing announcements.
US politics