Batteries Not Included: Biden Carves Out Major Exception to Investment Restrictions in China
Chinese batteries are crucial to Biden’s long-promised ‘clean energy economy’ Getty Images
Biden’s administration will exclude electric batteries from an executive order it is preparing to issue. This move comes as the Biden administration plans to restrict U.S. investments in Chinese technology. “clean energy economy” This heavily relies on Chinese batteries.
The executive order, expected to be released in the next months, places new restrictions on which types of Chinese technology U.S. investment firms and corporations can support. These controls were not expected to be extended to electric batteries. However, the Biden administration is now Moving to exempt Chinese battery technology The new limits are Axios reported Thursday morning.
That”s likely because the administration needs Chinese batteries to usher in its green energy revolution. China dominates The electric battery supply chain and President Joe Biden have so far Possibly killed or delayed U.S. projects in mining could provide the material needed to reduce China’s grip over the industry. Biden still released an announcement in 2021. Plan Democrat will make half the new electric vehicles sold in 2030.”s administration said would “Support union jobs in America’s supply chains that pay well.”
Biden is no stranger to the electric car industry”China. Ford’s electric vehicle was highlighted by the Democrat last year. Truck Mustang—the U.S. automaker in July announced It will import lithium batteries from China to power the vehicles.
The White House did in fact not immediately respond to our request for comment.
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