Bidenomics changes the face of US EV supply chains

President Biden’s somewhat oddly named Inflation Reduction Act (IRA) is changing the shape of US automotive production and redirecting global investment in the electric vehicle (EV) to a far greater extent than any other single policy action in the developed world. Signed into law in 2022, it is really a huge subsidy or incentive for manufacturing in the US especially and North America more broadly. Although applicable across a range of industries focused on clean energy, its biggest impact has been in the automotive sector.