South Korean battery makers have urged the U.S. government to factor in realities of a complex supply chain for the industry and not hold the sector to 'impossible requirements' ahead of the implementation of new U.S. EV tax credit rules.
among others, together command more than a quarter of the global EV battery market, according to SNE Research."A limited interpretation would also risk unintended market outcomes, such as sudden price hikes for suppliers in specific countries, and unnecessarily concentrate processing in limited places. Such market distortions could create artificial costs and barriers along the supply chain," SK On said.
Samsung SDI also urged the United States to implement rules that allow flexibility to meet supply chain requirements, adding that automotive supply chain contracts often last several years. LGES has also asked the United States to establish a confidential process to share battery composition, pricing and sourcing information with the Treasury Department to ensure that such sensitive information is not disclosed to competitors.. A total of 821 comments from automakers, parts makers as well as foreign governments have been submitted to the IRS.Our Standards:
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