While much of the conversation around the Inflation Reduction Act centers on incentivizing consumers to buy electric vehicles, a more obscure provision has the potential to put billions of dollars back in the pockets of companies that build EVs and the batteries that power them. With fewer strings attached than the law's consumer incentives, the advanced manufacturing production tax credit "Section 45X" is already sparking major investments in the U.S. by EV stakeholders racing to secure their spot in a domestic supply chain. It is also the target of political scrutiny.
