The inflation reduction act contains a provision, insisted on by senator joe manchion, that only e vs with a specific percentage of american source battery metals will be eligible for the 75 hundred dollar tax credit. So how do you imagine this provision will affect the cost and ano the consumer choice that's so important to move forward? I'd first take a step back and say i think where us. policy is now, as if the time we're recording with the inflation reduction act pretty much in place, is really positive for evs.
In the tech world, there’s a common belief that once a new device hits 5% market penetration, it rapidly goes from a niche to mass adoption. According to Bloomberg, the US has just passed that critical 5% tipping point for new EV purchases. Norway, an oil-rich country, was first to hit that 5% mark in 2013 and today boasts a stunning 86% of new cars being fully electric. Now California is driving the US along a similar road away from gasoline and diesel by passing a new law that will only allow emission free vehicles to be sold by 2035. Even with that California law, how confident can we be that all new American cars will be running clean? What does the 5% tipping point mean for other clean tech adoption?
Guests:
Albert Cheung, Head of Global Analysis, BloombergNEF
For show notes and related links, visit ClimateOne.org
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