Democrats' climate deal greatly expands purchase subsidies for electric vehicles. But it also ties them to strict sourcing requirements. Those complexities make it trickier for analysts to predict EV sales.
Data: Rystad Energy; Note: Includes battery-electric vehicles and plug-in hybrid electric vehicles; Chart: Simran Parwani/Axios
The firm finds that the expanded credits and recent EV announcements from automakers "significantly increase" the chances that U.S. sales follow the "high case" in the chart above.Susan Zou, another Rystad analyst, notes the bill signals an effort to cut battery supply chain reliance on China, but adds that automakers will face challenges to comply with the minerals, processing and component rules.
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