The New York Times published my opinion piece today:
"This is BYD, the Chinese Car That's Taking Over the World"
It's a call to action, an urgent one.
Like it or not, China is the new center of the global automotive industry. Its scale, speed, supply chains software and subsidies are overwhelming Western automakers.
For evidence, check out the Chinese cars flooding into Mexico, Brazil, Australia, South Africa, Thailand. the UK, the UAE, Israel, Singapore and Spain.
America's auto industry is the underdog. We must find new and inventive ways to compete – starting right now.
Think "Manhattan Project" for the automotive industry.
https://t.co/NhxQRYqfUE
We are indeed living in the upside down. Thanks @heatmap_news and @emilypont for letting me share predictions on how industry will have to operationalize this Frankenstein-of-a law.
“The irony is that Republicans have historically been the party of deregulation, creating business friendly environments. This is completely opposite, right?” @R_McCleery tells @emilypont.
Trump's megabill is an utter regulatory nightmare:
https://t.co/ULpydkmpPt
Scooplet: Solar industry group @SEIA will release analysis that says Ways and Means' gutting of IRA tax credits as written could put 287 U.S. factories at risk of closing or never coming online & cost 292,000 jobs by 2028. Comes as House is negotiating to further weaken credits
Just a couple of weeks ago China-owned automaker BYD reported record overseas EV and plug-in hybrid sales for the fifth consecutive month. But sure, let's make it harder for American automakers to build and offer these products here.
House Republicans are proposing to eliminate a tax credit for electric vehicles and phase out incentives for the production of clean energy to help pay for President Donald Trump’s tax cut package.
These phase out dates are a red herring. The sourcing restrictions will make claiming all of these incentives completely unworkable. Republicans are killing the future of manufacturing in America and exposing our country to significant national security risks.
Oh wait, sorry. The full tech-neutral clean electricity credits will only apply to plants that are "in service" by 2028, which is a major restriction — this is a MUCH faster phase out than it first looked.
"It takes three to six years to develop a new car, and it takes the design, testing and integration of assemblies from many companies. If government policy changes in the middle of the process, years of work and tens of millions of dollars can go out the window."
The #IRS offers free online and in-person tax preparation options for eligible taxpayers through Free File, Direct File and volunteer tax assistance programs. Learn more at: https://t.co/AyvX5PvcOl
Musk: We need TRANSPARENCY in the federal government. Sunlight is the best disinfectant
Also Musk: It is literally a crime to publish the name and work of government workers
PSA: IRS Direct File is up and running! You can save time and money by filing your taxes for free right now.
https://t.co/S0rzCLCX60
The IRS manages Direct File, not the GSA’s 18F.
➡️Faster refunds, fewer errors
➡️Better customer service
➡️Lower storage costs
@SecYellen launches the major IRS initiative for year 2 of the Inflation Reduction Act—Paperless Processing—today in Virginia. https://t.co/fZ8vrSOdwt
Ahoy there Twitter. Today I start a new post at @USTreasury supporting IRA implementation. Excited to join @TreasuryDepSec’s office and the climate law team!
Michigan Central will be a tremendous economic development engine for Detroit, attracting and growing top mobility companies and entrepreneurs, locally and from around the world, to innovate and build their products right here 🙌🙌
Congratulations !!!!!
Today, @FordFund announced $1M in scholarships to train auto technicians. Excited to partner w/ dealers in Atlanta, Chicago, Dallas and Phoenix to help reduce barriers & increase diversity for these high-skilled jobs. Learn more & apply here: https://t.co/Ewgkf2uk0W
Days could be spent talking about challenges and opportunities tied to the EV transformation. Thanks to John for making sure we hit on the key points and to my fellow panelists for their insights. Much more to come! #SAFESummit2023