The U.S. EV industry is poised for growth with ten new battery plants opening this year, led by companies such as LG Energy Solution and Panasonic. This expansion aims to reduce dependency on China for battery manufacturing, coinciding with rising EV sales from automakers like GM and Ford, thanks to generous incentives. However, uncertainties loom over the future, particularly due to President Trump's stance on clean energy and potential tariffs, which could impact demand for EVs and the profitability of these new plants.
"They're already built," Evan Hartley, analyst for Benchmark Mineral Intelligence told Inside Climate News. "You can't stop it, and the momentum is there. A lot of it is already in motion, but there are still many factors to consider regarding future production and market stability."
"Now their battery suppliers are on the cusp of making those packs here in the U.S., gradually reducing reliance on China. However, the key question remains: Will demand hold up if those incentives disappear and tariffs inflate prices?"
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