All articles tagged with #us incentives
Global EV sales reached a record 2.1 million in September 2025, driven by US, Europe, and China, with the US rushing to buy before tax credits expired, Europe benefiting from new incentives, and China maintaining its dominance with strong sales. Year-to-date, EV sales are up 26% worldwide, totaling 14.7 million.
The U.S. Inflation Reduction Act includes a clause that qualifies electric vehicle (EV) battery materials recycled in the U.S. as American-made for subsidies, sparking a race among companies to recycle EV batteries in North America and challenge China's dominance in the field. This has led to a boom in U.S. factory building and research into recyclable batteries, potentially making it harder for developing countries to purchase used EVs. While China currently handles most EV battery recycling, the U.S. incentives are driving the development of closed-loop supply chains and encouraging companies to move faster on recycling efforts. The global market for EV battery recycling is projected to grow from $11 billion in 2022 to $18 billion by 2028.