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Biden’s EV bet is a gamble on critical minerals

Hannah Northey of E&E News reports on the Biden administration’s EV rule.

The C3 Take
  • The EPA’s new tailpipe emissions rule would force a phase out of gas-powered vehicles and transition to EVs.
  • Consumer choice, not government mandates, should determine what vehicles consumers drive and operate.
  • Importantly, the U.S. is reliant on China for the rare earth minerals that are needed to power EVs.
  • Instead of essentially mandating the use of EVs, the administration should lower barriers that hinder private sector innovation which would make these vehicles cheaper and rare earth minerals more accessible.

“The Inflation Reduction Act’s requirements could prove tricky as EV productions ramp up. They limit how many vehicles can get tax credits, as the law specifies many battery parts and the minerals that go in them must be sourced domestically or from U.S. trade allies — a mandate only a fraction of EVs can now meet, according to a list Treasury released Monday.”

Read the full article here.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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