Hyperdrive
US May Need New Trade Agreements So EV Makers Can Meet Anti-China Rules
- Industry bracing for strict new rules banning China minerals
- Electric-vehicle tax credits seen as critical to US adoption
John Bozzella, president of Washington-based trade group Alliance for Automotive Innovation.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
The US may need to set up a new trade consortium to meet the anti-China demands of new electric-vehicle tax credits passed by Congress last year, the head of the group that lobbies for most major automakers said Tuesday.
“We talk a lot about onshoring,” or moving production domestically, said John Bozzella, president of Washington-based trade group Alliance for Automotive Innovation, in an interview with Bloomberg News in Washington. “But you’re also hearing a term of art that people like to throw around now: friendshoring.”