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Battery makers seem to be okay with an EV production slowdown
The news that GM, Ford and other automakers plan to slow down production of EVs in response to slower sales growth (EV sales grew by only 50 percent last quarter) was like an early Christmas for the various varieties of EV-haters.
For most of us in the EV industry, it was more like a visit from the Grinch. But there’s one group of EV-related businesses that may be okay with the slower-growth scenario: battery makers.
The Inflation Reduction Act set off an avalanche of investment, and the lion’s share of that has gone to the battery sector. According to Wellesley College Professor Jay Turner, who maintains an EV-investment database (via E&E News), investors have poured $58 billion into battery projects in the year since the IRA became law, and some believe a more measured pace would be healthier for the industry in the long run.
Read the whole story on chargedevs.com