Tesla Profit Doubles From Tax Effect, but Price Cuts Hurt
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Tesla Profit Doubles From Tax Effect, but Price Cuts Hurt

Quarterly earnings soared from a year earlier after the company booked a tax benefit, but increased competition and a price war took a toll, the electric-car maker said.
U.S. to Limit China’s Ability to Benefit From Electric Vehicle Industry
Posted inBatteries Electric and Hybrid Vehicles Inflation Reduction Act of 2022 International Relations Lithium (Metal) Metals and Minerals Regulation and Deregulation of Industry Supply Chain Tax Credits, Deductions and Exemptions Treasury Department

U.S. to Limit China’s Ability to Benefit From Electric Vehicle Industry

The Biden administration issued new rules to prevent Chinese firms from supplying parts for electric cars set to receive billions of dollars in tax credits.
Exxon Mobil Plans to Produce Lithium in Arkansas
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Exxon Mobil Plans to Produce Lithium in Arkansas

The move is the oil giant’s first foray in the production of a metal vital for electric vehicle batteries.