Can The Inflation Reduction Act Save The US Auto Industry?!

In August 2022, President Joe Biden passed the Inflation Reduction Act (aka IRA) into law earmarking a staggering $369 billion dollars for emissions cutting measures. The extensive incentives, such as $7500 worth of tax rebates for new EVs, millions of investment for domestic battery assembly and raw material sourcing mean that over the past year the IRA has had the effect of altering the tectonic plates of clean energy transition geopolitics. In this episode we explore, through the medium of cake (yes, really cake) the impact it's having on supply chains, how China, Europe and Car companies have responded and whether it's enough to make a dent in the US' emissions. Enjoy this whistle stop tour! 00:00 Introduction 00:33 Cake and EVs 01:31 What is the IRA? 02:39 Money on the table 03:08 What's the impact? 03:27 Battery ingredients 04:06 Foreign Entities of Concern 05:37 Canada 06:58 Battery Star Bakers 07:39 How has Europe Responded? 09:07 Battery Belt 10:21 Will it survive a Republican Administration? 10:54 Is it working? 12:04 A kick up the bum Get your ticket for Fully Charged Canada in Vancouver: Visit our LIVE exhibitions in Australia, UK, USA, Canada & Europe: Become a Patreon: Become a YouTube member: use JOIN button above Subscribe to Fully Charged & the Everything Electric channels Subscribe for episode alerts and the Fully Charged newsletter: Visit: Find us on Twitter: Follow us on Instagram: Support our STOP Burning Stuff Patreon: For Clean Energy and Home Tech take a look at the @EverythingElectricShow #ev #electricvehicles #cleanenergy #inflationreductionact #netzero #battery #batterysupplychain #supplychain #joebiden #criticalminerals #lithium #cobalt #politics #geopolitics #gigafactory #tesla #rivian #ford #gm #stellantis #vw
Video Summary
The video discusses President Biden's Inflation Reduction Act (IRA), focusing on its potential to lower carbon emissions and promote clean energy, particularly in the electric vehicle (EV) sector. It highlights the significant investments earmarked for climate change and examines the challenges and opportunities presented by the IRA, including the need for U.S. independence from foreign supply chains, especially from China. 1. The IRA aims to reduce carbon emissions significantly. 2. It provides substantial tax credits for electric vehicle purchases. 3. The act incentivizes clean technology rather than taxing carbon emissions. 4. There are strict requirements for U.S.-made components to qualify for tax credits. 5. The U.S. needs to enhance its battery manufacturing capabilities to compete globally. 6. The IRA is expected to help the U.S. meet its Paris Agreement targets.
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