Biden Not Getting The Credit He Deserves For IRA -- June 1, 2023

Locator: 44822EVS.

I remember posting a note on the big "bills" Joe Biden backed and got passed last year. On the blog, search: IRA Biden.

Here's one: BiMAGA. [Biden making American great again.] -- climate, health, tax reform. 

Don't take this out of context. It doesn't mean I support everything his administration is doing but there's a lot more getting done than some folks are reporting.

Not a day goes by but I can find another story where a company -- often a foreign company -- announces a major new product and says it was the IRA that helped them make decision.

US investors are taking a big risk if they forget about the IRA of 2022.

Exhibit A.

From the linked article:

Toyota will invest another $2.1 billion in an electric and hybrid vehicle battery factory that's under construction near Greensboro, North Carolina.

The plant will supply batteries to Toyota's huge complex in Georgetown, Kentucky, which will build Toyota's first U.S.-made electric vehicle, a new SUV with three rows of seats.

The plans, announced Wednesday, won't immediately create any more jobs at either the Kentucky or North Carolina factories. Susan Elkington, president of Toyota Motor Manufacturing Kentucky, said the new vehicle reflects the company's "journey toward an electrified future.”

Toyota will tap into a “growing market segment” with its new three-row SUV, Elkington said. She sidestepped media questions Wednesday regarding specific details of the new vehicle, saying: “I know everybody really wants to know about the vehicle, but today’s announcement is really about our manufacturing location.”

Toyota plans to employ 2,100 workers at the North Carolina battery factory, which will start production in 2025. The investment will prepare infrastructure for expansion. It brings the total investment in the Randolph County plant to $5.9 billion to meet the company's goal of selling 1.8 million electric or hybrid vehicles in the U.S by 2030. Toyota broke ground to begin building the plant in 2021.

The 9 million-square-foot Kentucky complex now employs 9,500 people who make the Camry sedan, RAV4 Hybrid SUV, several engines and other components. The company says jobs will shift to the new electric vehicle when production starts in 2025.

Much more at the linked article. 

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All my posts are done quickly: there will be content and typographical errors. If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them. 

Again, all my posts are done quickly. There will be typographical and content errors in all my posts. If any of my posts are important to you, go to the source.