The “generous” U.S. tax credits that are given “for investing in the U.S. electric vehicle, EV, supply chain,” will exclude Chinese entities, the White House made known, according to Reuters’ Andy Home. The new rules may have a “far reaching” impact given China’s dominant role in the EV battery supply chain, often with Western alliances, noted the Reuters’ story. Companies that may be impacted include: Albemarle (ALB), SQM International (SQM), Tower Hill Mines (THM), Lithium Americas (LAC) and Tesla (TSLA).
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on ALB:
- Albemarle price target lowered to $130 from $140 at UBS
- Albemarle just downgraded at Piper Sandler, here’s why
- SPY ETF Update, 12/4/2023
- SPY ETF Update, 11/30/2023
- Airbnb downgraded, Moderna initiated: Wall Street’s top analyst calls
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue