Vice President Kamala Harris vowed to create a national stockpile of critical minerals, saying a cache of the materials used in everything from batteries to defense systems is needed for economic and national security…The plan, part of a broader $100 billion industrial policy vision Harris’ campaign laid out Wednesday, also called for new incentives and the use of emergency government powers under the Cold War-era Defense Production Act to increase domestic processing of critical minerals….“Increased domestic production will be paired with innovative and sustainable steps to build stronger critical mineral supply chains alongside our allies and partners, including by incentivizing investments that expand U.S. and allied production of these resources,” the Harris campaign said in a statement. “These efforts will reduce our dependence on China, which leads production on many critical minerals.”…Critical minerals — which include dozens of materials including antimony, lithium, and cobalt — are those are considered essential to the economy and at risk of supply disruption. 

Stellantis wants to adopt the low-cost mindset of Chinese EV makers despite the European and U.S. tariffs CEO Carlos Tavares lambasts as anticompetitive, but the world's No. 4 automaker must navigate trade barriers on both sides of the Atlantic if it wants to succeed…Tavares calls tariffs a "trap," arguing they will hurt legacy automakers by shielding them from the reality that Chinese rivals make electric vehicles for about a third less…The best way to compete is instead to "try to be Chinese ourselves," Tavares said at a Reuters Events conference in Munich in May…That belief led Stellantis to purchase a 21% stake in China EV maker Leapmotor last October, creating a joint venture giving Stellantis access to Leapmotor technology and exclusive rights to produce its EVs outside of China…The challenges faced by Stellantis in the EU and the U.S. are no different than those confronting all automakers as they seek to compete with the Chinese globally. However, Stellantis and a handful of others have taken it a step further, establishing partnerships with Chinese automakers in order to stay competitive…Chinese EVs are already on sale in Europe; and factories to make more are being built - with subsidies from individual countries competing for plants…European automakers are embracing Chinese technology…Such partnerships are far more challenging in the United States. The Biden administration has slapped a 100% tariff on Chinese-made EVs, championed U.S. production through the $430 billion Inflation Reduction Act and targeted Chinese car components…The U.S government now proposes barring Chinese software and hardware from vehicles on American roads, which could be its most powerful weapon yet to block Chinese EVs…Stellantis could theoretically produce Leapmotor EVs at U.S. plants, but with non-Chinese parts and U.S. wages any savings could be minimal…BMW CEO Oliver Zipse argues that as China dominates EV raw materials and components, a trade war would hurt Europe…"There is no Green Deal in Europe without resources from China," Zipse said in May…Ford's Farley says tariffs level the playing field, giving U.S. automakers a short window to match Chinese rivals' ability to make cheaper EVs…Industry observers say regardless of tariffs, China's EV industry will become a global powerhouse…U.S. executives said two European Commission reports released this year - detailing Chinese government assistance including direct EV purchase subsidies, cheap corporate loans, cheap electricity, and cheap or even free land - prove protection is needed…Chinese companies dominate raw materials from rare earths to graphite, undercutting Western rivals on price…"When you get used to protection, it's very difficult to get rid of," Tavares told Reuters in May…Stellantis is instead leaning on cheaper models like its upcoming Citroen e-C3, which will start at 20,000 euros ($21,342), and its Leapmotor EVs to compete…A number of automakers have backpedaled on electrification targets, but Stellantis said its targets of 100% EV sales in Europe and 50% in the U.S. by 2030 remain in place.

South Korean battery maker SK On said on Thursday it plans to introduce voluntary redundancy programmes aimed at cutting its workforce, as the company seeks to improve efficiency and remain competitive in a challenging electric vehicle market…SK On, which supplies EV batteries to Ford Motor, Hyundai Motor and Volkswagen among others, is the latest battery maker to bear the brunt of slowing EV sales…Ford, General Motors , and other car makers have delayed or cancelled new electric models to avoid spending heavily on vehicles that consumers are not buying as quickly as anticipated.