European plans of creating a battery supply chain for electric cars independent of China face big delays as companies focus on the US market because of clean energy subsidies, a top manufacturer has warned.
Chris Burns, a former Tesla engineer who heads Canadian battery materials producer Novonix, told the Financial Times that the US Inflation Reduction Act was drawing producers away from Europe.
Novonix, which manufactures the battery component graphite that is vital for the electric car transition, plans to focus on the US market because of incentives in the $369bn act, which the EU and UK have failed to match.
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