Will The U.S. Fall Behind In The Race For Electric Vehicles?

Written by Bruno Teles

Published on 18/10/2023 at 22:41

Corrida no mercado de carros elétricos (Imagem / Reprodução: CANVA)

Be the first to react!

The Inflation Reduction Act Aims to Reduce Carbon Emissions and Boost the Electric Vehicle Sector

In August 2022, President Joe Biden signed a significant piece of climate policy known as the Inflation Reduction Act (IRA).

The act allocates an impressive amount of 369 billion dollars for emission-cutting measures. For the electric vehicle sector, the big news is a tax credit of up to 7,500 dollars when purchasing an electric car.

According to Professor Jesse Jenkins, the focus of the IRA is to encourage clean technology, rather than imposing taxes on carbon emissions. This means that funding is available at every stage of the electric vehicle value chain, from material mining to vehicle assembly.

ARTICLE CONTINUES BELOW

Immediate Impact: Billions in Investments and New Jobs

Since the law’s implementation, 56 billion dollars in investments have already been announced, which is expected to create around 40,000 jobs and significantly increase battery capacity in the United States. The IRA is shifting the tectonic plates of the transition to electric vehicles and clean energy.

The law also requires that a certain percentage of components be manufactured or assembled in the U.S. or in countries with free trade agreements with the United States. The issue of reliance on materials from China and other countries is also on the table.

However, the legislation is opening up opportunities for other trade partners, such as Australia, Canada, and Chile, which are rich in critical minerals like lithium and cobalt.

Will the IRA Survive Political Changes?

In the U.S. political landscape, divided between Democrats and Republicans, the question remains: will the IRA survive a potential change in administration? There is cautious optimism that strong corporate lobbying and tangible economic benefits may help the law withstand political changes.

Will The U.S. Fall Behind In The Race For Electric Vehicles?

The Inflation Reduction Act Aims to Reduce Carbon Emissions and Boost the Electric Vehicle Sector

Immediate Impact: Billions in Investments and New Jobs

Will the IRA Survive Political Changes?

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

Great Atlantic Sargassum Belt has ceased to be a climatic phenomenon and has become a biological system that feeds on itself, with 8,000 kilometers in length, 37 million tons of algae, and scientists confirm that it is now permanent.

A giant printer called the “Ferrari” of concrete has landed in Latin America and can already build a 120-square-meter house in just 48 hours, making the traditional construction site look like something from the last century.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

Engineers had to pour concrete mixed with tons of ice throughout entire nights in the Dubai desert to erect the Burj Khalifa; any carelessness could clog the pipes half a mile high.

The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

The American Navy fired a high-energy laser from the deck of an aircraft carrier for the first time in history to shoot down a drone in the Mediterranean, an event that is a game-changer for naval air defense.

Factory that exported to more than 50 countries will be demolished in Santa Catarina, former Cecrisa pavilions make way for a R$ 200 million innovation park, ending the industrial era that put Criciúma on the world ceramics map.

Plastering without secrets: bricklayer reveals the plaster mix that uses 5 parts sand to 1 part cement and shows how to achieve a good consistency without needing an additive.

The Brazilian Army has just unveiled a silent arsenal of drones armed with rifles, grenade launchers, and nuclear sensors capable of operating nearly 300 km away, and this is just a preview of what will be showcased in Rio in the coming months with 33 companies.

The exodus of Brazilian industries to Paraguay is already changing the logistics of the South, putting pressure on BR-277, shifting cargo between ports, and raising an alert about competitiveness in the country.

Will The U.S. Fall Behind In The Race For Electric Vehicles?

The Inflation Reduction Act Aims to Reduce Carbon Emissions and Boost the Electric Vehicle Sector

Immediate Impact: Billions in Investments and New Jobs

Will the IRA Survive Political Changes?

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

Great Atlantic Sargassum Belt has ceased to be a climatic phenomenon and has become a biological system that feeds on itself, with 8,000 kilometers in length, 37 million tons of algae, and scientists confirm that it is now permanent.

A giant printer called the “Ferrari” of concrete has landed in Latin America and can already build a 120-square-meter house in just 48 hours, making the traditional construction site look like something from the last century.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

Engineers had to pour concrete mixed with tons of ice throughout entire nights in the Dubai desert to erect the Burj Khalifa; any carelessness could clog the pipes half a mile high.

The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

How GMC decided to create a cheaper “mini Hummer” after the failure of giant electric vehicles and revealed radical SUVs that promise to take on the Bronco and Wrangler with a brutal look, futuristic technology, and off-road capability in the USA.

Chile inaugurates the first electric highway for the trucks that drive its economy, installs high-power chargers over 400 km, and aims to reduce diesel dependency in a logistical shift to Puerto Montt by 2030.

New Brazilian Fiat Fastback with a hybrid flex engine of up to 180 hp and a range of over 1,000 km will give rise to the new “affordable” Chrysler SUV in the US, in a project aiming to increase the brand’s sales to 225,000 cars by 2030.

Honda’s pickup the size of the Ram Rampage will feature a new hybrid V6 engine, a new generation with a refreshed design, more power, and improved acceleration after a production pause until 2028 to compete with the Toyota Tacoma, the leader with 274,000 annual sales.

Jetour accelerates in Brazil, surpasses 1,000 cars sold in just 3 months, and bets on plug-in hybrid SUVs to enter the competition strongly against BYD and GWM.

The American Navy fired a high-energy laser from the deck of an aircraft carrier for the first time in history to shoot down a drone in the Mediterranean, an event that is a game-changer for naval air defense.

Factory that exported to more than 50 countries will be demolished in Santa Catarina, former Cecrisa pavilions make way for a R$ 200 million innovation park, ending the industrial era that put Criciúma on the world ceramics map.

Plastering without secrets: bricklayer reveals the plaster mix that uses 5 parts sand to 1 part cement and shows how to achieve a good consistency without needing an additive.

The Brazilian Army has just unveiled a silent arsenal of drones armed with rifles, grenade launchers, and nuclear sensors capable of operating nearly 300 km away, and this is just a preview of what will be showcased in Rio in the coming months with 33 companies.

The exodus of Brazilian industries to Paraguay is already changing the logistics of the South, putting pressure on BR-277, shifting cargo between ports, and raising an alert about competitiveness in the country.