Nissan, Honda to boost battery procurement

But will there be enough supply to meet the demand?

The reason they all want to build battery plants in the US, or procure batteries that are made in the US, is the government EV credit will only go to vehicles that not only have their final assembly in the US, but also requires US manufacturing and assembly locations for battery components, starting at 50 percent before January 1, 2024, and increasing to 100 percent in 2029.

So, obviously, they want to get those batteries sourced in the US before those deadlines arrive.

Yes Gary That is why Nissan bought a company that has a factory in Japan and Honda is looking for suppliers in China.