Prem9 Feb 2023 03:51
Report dated 07/02/2023;
Lithium demand could accelerate to higher highs – and fast. All after the U.S. Treasury Department announced it would change the definition of an “SUV” to make more EVs eligible for tax credits of up to $7,500. In fact, according to the TheHill.com, “The department has updated the classification standards used to determine eligibility, expanding the definition of an SUV. The $7,500 tax credit applies to SUVs costing up to $80,000, but there is no such benefit for passenger cars more expensive than $55,000. The update, retroactive to Jan. 1, will use the standard set by the Environmental Protection Agency’s (EPA) fuel economy standards.” That move is expected to increase lithium demand, boost prices, and be a major catalyst for companies.
Bodes well for Prem
Acker