US moves to choke China’s role in electric vehicle supply chain.

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"The US Treasury announced on Friday that from next month no US-manufactured EVs that include Chinese-made battery components will be eligible for the full subsidies offered by President Joe Biden’s $369bn landmark climate law. Nor will EVs qualify for the Inflation Reduction Act incentives if they are made by companies with significant ties to the Chinese government or produced with a licensing agreement with a China-based or Beijing-controlled operator."