Joe Biden’s Reshoring Initiative: Boosting Cleantech and EV Production with Honda’s Global Expansion
Summary:
Main Points:
- Joe Biden and Democrats launched the largest reshoring initiative in the US.
- The Inflation Reduction Act (IRA) encouraged the establishment of cleantech production facilities and battery production factories in the US.
- The IRA also incentivized electric vehicle (EV) production in the US.
Details:
- Honda is progressing with a significant electric vehicle (EV) hub in Ohio.
- Honda is also planning to open a new electric motorcycle factory in India.
Author's Take:
In a groundbreaking move, Joe Biden and Congressional Democrats are bolstering the US economy through a massive reshoring effort focused on cleantech production and electric vehicles. Honda's strides in establishing an EV hub in Ohio and a new electric motorcycle factory in India showcase a global shif...