https://www.miningweekly.com
Building|Components|Manufacturing|Mining|PROJECT|Projects|supply-chain|Manufacturing |Infrastructure
Building|Components|Manufacturing|Mining|PROJECT|Projects|supply-chain|Manufacturing |Infrastructure
building|components|manufacturing|mining|project|projects|supply chain|manufacturing-industry-term|infrastructure

BYD considers US battery plant, refrains from selling EVs after Biden Inflation Act

8th December 2022

By: Bloomberg

  

Font size: - +

Chinese automaker BYD Co. is considering building a battery plant in the US but doesn’t currently plan on selling its electric cars there, a top executive said, while laying out a case for tweaks to Biden’s Inflation Reduction Act that seeks to limit reliance on Asia’s biggest economy.

“Currently we don’t plan on selling in the US, we need a better understanding of what the next steps are,” BYD Executive Vice President Stella Li said in an interview Tuesday. “We’ll continue to invest in electric school buses and also battery components but for consumer cars, we haven’t got a decision yet.”

As an automaker with large manufacturing capabilities and a vertically integrated supply chain stretching from batteries to chips, BYD stands to lose from Washington’s efforts to rebalance the sector away from China. The US Inflation Reduction Act, which President Joe Biden signed into law in August, is pushing EV makers globally to produce more vehicles in North America and secure the key minerals for them outside of China.

Li said the IRA threatens EV uptake in the US, although she welcomed the country’s efforts to strengthen its own supply chain. The legislation has been widely criticized by carmakers and EV battery makers in Europe, China, South Korea and Japan.

Hopefully the US can “modify some language to at least allow Chinese vendors to participate” in certain processes, she said.

BYD is pursuing a dedicated cell production site in America, buoyed by robust consumer demand for cleaner cars. But Li called the requirement to source raw materials from countries the US has free trade agreements with, and which necessarily sidelines China, “confusing.”

Li was speaking to Bloomberg from Chile, where BYD is in talks to enter into a mining project and applying for permits to process lithium into cathodes for batteries. BYD is also looking to invest in African lithium projects, although it recognizes the infrastructure shortfalls.

Edited by Bloomberg

Comments

Latest Multimedia

Photo of Martin Creamer
On-The-Air (01/03/2024)
Updated 53 minutes ago By: Martin Creamer

Latest News

Paul Dunne
Northam declares cash dividend, boosts self-generation
Updated 3 hours ago By: Martin Creamer
Kropz's Elandsfontein mine
Kropz appoints new financial manager
29th February 2024 By: Marleny Arnoldi

Showroom

AutoX
AutoX

We are dedicated to business excellence and innovation.

VISIT SHOWROOM 
SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine video image
Magazine round up | 01 March 2024
1st March 2024
Implats CEO Nico Muller
Implats expecting phased reduction in group output
29th February 2024 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.189 0.227s - 91pq - 2rq
Subscribe Now