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Industry

U.S. midterm election nears as Korean battery makers face crossroads over AMPC tax credit defence line

With the Nov. 3 U.S. midterm election approaching, Korean battery makers face renewed political bargaining over tax credits. EV purchase subsidies have already been abolished, while the advanced manufacturing production credit, or AMPC, has been defended at a 25 percent credit through 2032. Companies with large North American bases are reshaping operations to withstand policy shifts, including moving from joint ventures to wholly owned plants and shifting production toward energy storage systems.

Industry

LG Energy Solution starts full operations at Lansing plant making ESS and EV batteries

LG Energy Solution is stepping up local production in the North American battery market by launching full operations at its Lansing plant in Michigan. The company held an opening ceremony on Aug. 19 attended by Governor Gretchen Whitmer, U.S. Interior Secretary Doug Burgum and CEO Kim Dong-myung (김동명). The plant will produce LFP batteries for energy storage systems and NCM batteries for electric vehicles, with annual capacity of more than 35 GWh.

Mobility

Tesla runs out of California EV rebates in five days

Tesla has used up in five days the rebate allocation it received under California\'s new MyFirstEV electric-vehicle purchase support program. The discount for Tesla buyers began on Aug. 3 and the allocation was fully exhausted by Aug. 8, Electrek reported. The program is funded by $135.5 million in state money matched by automakers. Eligible buyers get an upfront $3,500 off a new vehicle under $50,000 or $1,750 off a used vehicle under $25,000, with no income cap or separate application.