Australia looks to EV boom to transform economy

- China currently dominates the electric vehicle, battery, and critical metals industries. - However, other countries, such as Australia, India, and the US, have started pushing back against Chinese investment in these industries. - There is suspicion and concern about Chinese EV companies in countries like France, which is calling for an investigation into unfair subsidies by the Chinese government. - This could potentially lead to new tariffs on Chinese EV imports to the EU. - China's recent actions, such as threatening to curb exports of important materials and banning coal imports from Australia, have further fueled concerns about dependence on China.

Main topic: The onshoring of battery manufacturing for EVs in the United States. Key points: 1. The number of battery factories in the US has increased significantly, with about 30 factories either planned, under construction, or operational. 2. The Inflation Reduction Act (IRA) signed by President Joe Biden has incentivized automakers and consumers to produce batteries domestically. 3. Automakers and battery manufacturers have collectively invested close to $100 billion in building domestic cell and module manufacturing, with a capacity of over 1,200 gigawatt-hours before 2030. Hint on Elon Musk: The article mentions Tesla's plans to invest billions in expanding its Gigafactory in Nevada and producing batteries for 1.5 million light-duty vehicles annually.