The one crucial industry where China is crushing America in the Tech Cold War
in Texas. The Inflation Reduction Act set a goal of refining enough lithium domestically to supply 2 million electric vehicles annually. The Biden administration hopes to accomplish this in two ways — one carrot and one stick.
"There are certain issues around security and having a manufacturing base in the US that makes sense, but we don't have to worry about the tech war," she said by phone."China is like the Russian army in the 18th century. Everyone feared the 'Great Bear to the North,' but they eventually found out that size doesn't mean quality — size means size."
. To put that in perspective, Toyota — the world's biggest carmaker — sold just over 10 million cars last year, while Tesla sold just over 1 million. If Musk wants to reach his goal, Tesla not only needs Chinese consumers to keep buying his cars, but he also needs China's cheap batteries and manufacturing infrastructure to make a car cheap enough to sell to markets like Latin America, Southeast Asia and India.
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