Business Insider outlined how the electric vehicle space can cash in on the Inflation Reduction Act, quoting AEE's Ryan Gallentine on the tax credits and manufacturing incentives that will help the industry. Read snippets below and the full article here.
Consumer-focused electric-car startups might get pummeled by the Inflation Reduction Act's climate-focused electric-vehicle stipulations, but the commercial-truck space is looking at a huge boost.
The $750 billion law outlines credits for green commercial vehicles (whether electric or another type of alternative fuel), including everything from delivery vans to middle-mile trucks and 18-wheelers.
Electrifying this segment is a huge part of the transportation industry's pivot away from gas engines but comes with a lot of challenges. Commercial-fleet owners need to be sold on the return on investment they'll see from buying unproven, expensive vehicles and to assess the total cost of ownership of an electric fleet.
That's why players in this space — from incumbents like Daimler and Volvo to newcomers Lion Electric, Volta, Einride, and even Tesla — are likely to benefit.
"There are a lot of EV-only companies like Lightning eMotors, Arrival, Workhorse that are in this medium-duty delivery space," Ryan Gallentine, the electrifying-transportation-policy director at Advanced Energy Economy, said. "I think that this bill could be really good for them."...
The industry needs outfits focused on getting the truck segment the sheer amount of materials it needs — and the technologies required to accommodate the weight and power needs of larger EVs.
Electric trucks don't need to meet as many rules to qualify for them. But the measure's manufacturing incentives still bolster development of "battery chemistries that are lighter and more e cient," Gallentine said, which advantages the commercial space.
Battery-mineral companies, and makers of the battery cells and modules, have an opportunity.
"That's especially important for these trucks that have these very, very large, large batteries," Gallentine said.
Read the full article here.