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).
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
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: