The Biden administration's aggressive policy limiting auto tailpipe pollution, pushed through earlier this year to dramatically expand America’s electric vehicle market, threatens to hand control of America's critical auto industry to the Chinese Communist Party. The Environmental Protection Agency's electric vehicle mandates for cars and trucks will make the U.S. dangerously dependent on China for batteries and raw materials.
Chinese investment in overseas electric vehicle battery plants and mineral extraction has exploded, surging from just $600 million in 2016 to a massive $24 billion in 2022. This enormous expenditure represented 58% of total Chinese foreign direct investment. With its state-directed approach, limitless subsidies and nonexistent environmental standards, China will happily supply the U.S. with cheap electric vehicle batteries and materials.