Biden evokes the Defense Production Act on EV battery materials as Tesla and Samsung dodge the price hike of nickel

[Redaktion]

Tesla and Samsung have hedged their nickel price bets and their battery production remains relatively unscathed when it comes to the stratospheric rise of the metal used for the cathode in extended range batteries. President Biden is doing the government's share by calling the powers of the Defense Production Act to reign in rising EV battery material prices.

https://www.notebookcheck.net/Biden-evokes-the-Defense-Production-Act-on-EV-battery-materials-as-Tesla-and-Samsung-dodge-the-price-hike-of-nickel.611374.0.html

[PatrickO]

Did you really mean to use the word "evokes" in the headline or "invokes" ? I'm thinking you meant invokes.

[Jim E]

What's your source that claims skyrocketing oil prices are a result exclusively of Russia's actions? You left out the part where they were already skyrocketing due to inflation before Russia invaded the Ukraine, and that comparatively it's had a modest effect compared to inflation. You should also mention how Biden's own energy policy created this situation, and now he's having to call on emergency "wartime" powers to ease the pain felt by everyday Americans. Also, those everyday Americans can't afford the electric cars he's trying to secure future production of. They overwhelmingly drive ICE's.

[Daniel Zlatev]

Did you really mean to use the word "evokes" in the headline or "invokes" ? I'm thinking you meant invokes.

Fixed, thank you!

[Richard Hennessy]

This is a clear abuse of authority.  Biden has no such authority.  The Defense Production Act doesn't allow authoritarian actions to promote a political agenda.  There is NO defense emergency.