Are we on target for making zero-emission vehicles account for half of all cars sold in the U.S. by 2030? Not without enough rare earth minerals to build them.
The Biden Administration and major automakers have set ambitious goals for the transition to electric cars on U.S. roads. But a potential roadblock stands in the way: access to sufficient supplies of the rare earth minerals that are an essential part of those high-tech vehicles. China provides more than 85% of the world’s supply, a dominance that must be challenged if automakers and manufacturers of other high-tech products — including those for national defense — are to meet future demand. Can we cut into China’s share of this critical market? Answers on this episode from Pini Althaus, chief executive officer of USA Rare Earth LLC, a company that is working to build a complete domestic supply chain of those essential materials. He discusses solutions, obstacles and possible timetables, and also addresses environmental concerns arising from the mining of rare earth minerals. Hosted by Bob Bowman, Editor-in-Chief of SupplyChainBrain.
A statement by Althaus about the proposed Rare Earth Magnet Manufacturing Production Tax Credit Act.
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