California approves tax on electric vehicle battery metal lithium
Time:Tue, 05 Jul 2022 07:00:01 +0800
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As part of a must-pass state budget, California on Thursday approved a plan to impose taxes on electric vehicle battery metal lithium to create revenue for an environmental remediation project, although there are concerns about the possible injury to the industry and delayed deliveries to automakers.
California sits on top of huge lithium reserves in the Salton Sea region, east of Los Angeles, which was seriously destroyed in the 20th century by the heavy use of pesticides in agriculture. Therefore, part of the funds generated by the tax will be used to clean up the area.
The tax is levied at a flat rate per ton and will be valid in January next year. The tax will be reviewed annually, and state officials have agreed that the study might move to a percentage-based tax.
