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North America's EV Battery Factory Boom
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The boom in EV battery factories in North America surged post-COVID. From just two U.S. factories in 2019, now 34 are planned, under construction, or operational. President Biden's Inflation Reduction Act accelerated this trend, incentivizing domestic battery production and sparking a tech race with the EU.
China's dominance in lithium-ion batteries is waning as automakers shift production closer to home, wary of supply chain disruptions. The IRA offers tax credits for EVs meeting strict battery sourcing guidelines, aiming to halve U.S. reliance on China by 2030.
Automakers and battery makers have pledged $112 billion for domestic production, promising nearly 1,200 gigawatt-hours of annual capacity by 2030. This could power 18 million EVs.
Key players like BMW, Ford, General Motors, and Hyundai are investing heavily in U.S. and Canadian battery plants, driven by IRA incentives and a strategic pivot away from Chinese supply chains.
| Scores | Value | Explanation |
|---|---|---|
| Objectivity | 6 | Comprehensive reporting with in-depth analysis. |
| Social Impact | 5 | Significantly influencing public opinion on EV production. |
| Credibility | 5 | Solid evidence from authoritative sources. |
| Potential | 6 | Inevitably leading to significant changes in EV industry. |
| Practicality | 5 | Widely applied in practice, achieving good results. |
| Entertainment Value | 3 | Some entertainment value, attracts a portion of the audience. |