**The US president Joe Biden’s Inflation Reduction Act includes a consumer tax credit for buyers of electric cars if the final assembly location was in the US and production did not involve “foreign entities of concern”. An electric car using a battery fully manufactured in #Tesla’s Austin and Nevada plants would enable #Tesla to qualify for subsidies as well as a sales boost from the thousands of dollars in tax credits for its US buyers. #Tesla has ramped up battery production in the US in recent months. Its $2.9bn order to South Korea’s L&F to supply it with battery materials — instead of fully made batteries — underscores its plan to include batteries in its model of vertical integration. That will mean more affordable batteries and higher margins on its cars sold. --v 5 --q 2 --s 250** - Image #3 <@806256827037384756>
The US president Joe Bidens Inflation Reduction Act includes a consumer tax credit for buyers of electric cars if the final assembly location was in the US and production did not involve foreign entities of concern. An electric car using a battery fully manufactured in Teslas Austin and Nevada plants would enable Tesla to qualify for subsidies as well as a sales boost from the thousands of dollars in tax credits for its US buyers. Tesla has ramped up battery production in the US in recent months. Its 2.9bn order to South Koreas LF to supply it with battery materials  instead of fully made batteries  underscores its plan to include batteries in its model of vertical integration. That will mean more affordable batteries and higher margins on its cars sold.