Controversy over U.S. Electric Car Industry’s Dependence on China

The Biden administration is seeking to bolster the United States’ domestic supply chain for electric vehicles to produce cleaner cars. However, the company Huntsman Corporation in Texas faced obstacles in making an all-American electric vehicle due to competition from China. The plant in Texas intended to produce ethylene carbonate for electric vehicle batteries was halted after China flooded the market with the product at a significantly lower price of $700 a ton from the intended $4,000. The administration now needs to finalize rules that will determine how foreign companies, particularly in China, can supply parts for American-made electric vehicles. The rules will impact whether electric vehicle makers in the U.S. are able to obtain cheap components from China or if they will be required to purchase more expensive products from American companies. The administration faces a dilemma where it must weigh the benefits of allowing more companies to qualify for incentives with the need to build secure supply chains for electric vehicles. The industry is divided over the exact requirements of the proposed rules, with automakers seeking to keep costs down while miners and others in the supply chain are hoping to reduce dependence on China and strengthen the U.S. economy. The final rules are awaited to determine the trajectory of investment in electric vehicle and battery manufacturing in the U.S.

News

Unlikely Industry Player Anguilla Profits Big from A.I. Boom

Artificial intelligence’s integration into everyday life has stirred up doubts and unsettling questions for many about humanity’s path forward. But in Anguilla, a tiny Caribbean island to the east of Puerto Rico, the A.I. boom has made the country a fortune. The British territory collects a fee from every registration for internet addresses that end […]

Read More
News

China Surpasses U.S. in A.I. Talent: A Key Metric

China lags behind the United States in artificial intelligence that powers chatbots like ChatGPT but excels in producing scientists behind new humanoid technologies. New research reveals that China has surpassed the United States as the biggest producer of A.I. talent. The country generates almost half the world’s top A.I. researchers, compared to 18 percent from […]

Read More
News

Brands Brace for Impact as TikTok Faces Criticism

Amid debate in Washington over whether TikTok should be banned if its Chinese owner doesn’t sell it, one group is watching with particular interest: the many brands — particularly in the beauty, skin care, fashion, and health and wellness industries — that have used the video app to boost their sales. Youthforia, a makeup brand […]

Read More