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Argentina Is Pressing US for Exception to Tap EV Tax Bonanza

Dec. 2, 2022, 7:23 PM

The world’s fastest-growing lithium producer is lobbying hard to gain access to President Joe Biden’s new electric vehicle tax credits, despite Argentina not meeting the requirement of being a US free-trade partner. So far, it’s being rebuffed.

Designed to end China’s overwhelming dominance of the critical metals sector and passed in August, Biden’s signature Inflation Reduction Act has been welcomed as a landmark climate law that will boost EV manufacture and uptake in the US. But to qualify for the credits, it requires 80% of the battery metals in each vehicle to be “extracted or processed” in the US ...