July 22, 2024
Cumulative new battery production in North America announced up to January 2021 totaled 120 GWh. Following the passage of the Bipartisan Infrastructure Law (BIL) and the Inflation Reduction Act (IRA) that supports the development of a domestic supply chain for EVs, announcements for new battery capacity accelerated. By mid-2024, cumulative announced annual capacity rose to nearly 1,400 GWh – more than ten times higher than 2021 and enough to supply about 14 million light-duty EVs annually.
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