Weaning U.S. Off Chinese Rare Earths Involves Supply-Chain Perks
- Biden’s infrastructure incentives target consumers, car makers
- MP Materials CEO says supply chain should be the focus
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The only U.S. producer of rare earths says the Biden administration needs to focus on giving incentives to producers of the building blocks that will drive electrification.
Biden’s gargantuan $2.25 trillion infrastructure plan currently targets about $15 billion to build a network of vehicle-charging stations and $100 billion in rebates to electric-car buyers. The flaw is that the program doesn’t wean the U.S. off its dependency on China for critical minerals used in electric vehicles, wind turbines and other green-energy infrastructure, said MP Materials Corp. Chief Executive James Litinsky.