New EV tax credits in the US may deter further investments, warns Japanese government
The US IRA 2022 is designed to onshore EV manufacturing ecosystem in North America and build more resilient supply chains in the US as it aims to reduce trade dependency on China
The newly introduced electric vehicle tax credits in the US could deter further investment by the Japanese companies, Japan's government warned in a response submitted to the US Treasury Department, according to a news report published by Nikkei Asia on 5 November 2022.
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