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Tesla Loss Of EV Tax Credit Accelerates HPQ as Vital Supplier of Engineered Silicon Battery Material

Posted by Alavaro Coronel at 8:27 AM on Friday, December 15th, 2023

In a striking turn of events, Tesla the trailblazer in the electric vehicle industry, hit an unexpected speed bump yesterday that is 100% relevant to this discussion with HPQ Silicon. Specifically, The Inflation Reduction Act, a cornerstone of the U.S. government’s drive towards sustainable energy, has redrawn the boundaries for electric vehicle subsidies and Tesla EVs have been locked out in 2024.

U.S. GOVERNMENT REGULATIONS LIMIT NON-REGIONAL MATERIALS FOR EV TAX CREDITS

WHY? The problem is Tesla’s sourcing strategy for battery components, which predominantly involves ‘foreign entities of concern,’ notably China. This strategic alignment now places Tesla at a crossroads, as the new legislation imposes stringent requirements on the origins of battery components and materials – criteria that Tesla currently fails to meet – and the ramifications for Tesla are profound as it stands to lose the full benefit of the coveted $7,500 tax credit for some of its models.

SEISMIC SHIFT TOWARDS DOMESTIC PRODUCTION OF EV BATTERIES 

This significant policy change is more than a financial adjustment; it’s a seismic shift in the electric vehicle industry that underscores a critical national agenda to foster domestic production and reduce dependencies on foreign sources, particularly in areas deemed sensitive or critical. This development promises to reshape the landscape of electric vehicle battery manufacturing, the industry’s supply chain dynamics, and the broader pursuit of energy independence and sustainability.

ENTER HPQ SILICON INC. (TSX-V: HPQ) (OTCQB: HPQFF) 

As a technology company specializing in green engineering processes for silicon material manufacturing, HPQ is strategically positioned to become a vital supplier of engineered Silicon materials for battery anodes as the US and Canadian governments aggressively engage in creating homegrown battery manufacturing ecosystems.

As governments on both sides of the border actively shape homegrown battery manufacturing ecosystems through policy and financial incentives, HPQ’s strategic positioning as a vital supplier of engineered SiOx materials takes center stage.

RECENT MOU WITH SILICON ANODE PRODUCER SOLIDIFIES HPQ SILICON FOCUS

As the demand for locally manufactured engineered SiOx battery material intensifies, HPQ is charting a groundbreaking course. Capitalizing on its innovative technologies and strategic partnerships, the company is set to produce 3N+ Silicon feedstock, a key ingredient for its engineered SiOx battery material. This move not only enhances the resilience of potential client supply chains but also reinforces North America’s autonomy in the rapidly evolving battery landscape. A recent ​​MOU With U.S. Based Ecellix Inc, a Silicon-Dominant Anode Developer and Manufacturer further solidified this initiative.

CRITICAL NEED FOR LOCAL SOLUTIONS: HPQ’S ROLE IN STRENGTHENING ENERGY SECURITY

In an industry where reliability is paramount, HPQ recognizes the critical role of engineered SiOx battery materials. Currently, the sector relies on almost 100 non-North American sources for SiOx, posing threats to supply stability. HPQ’s commitment to becoming a local source of this crucial material aims to fortify energy security, insulating the region from global market dynamics and geopolitical shifts.

Bernard Tourillon, President and CEO of HPQ Silicon Inc. and CEO of Novacium SAS, underscores the company’s dedication to deploying technologies in North America. Referencing recent U.S. government regulations limiting non-regional content for EV tax credits, Tourillon affirms, “The recent U.S. government regulations further validate the strength of our approach.”

MEETING THE ELECTRIC FUTURE: HPQ’S MISSION TO POWER THE ELECTRIC VEHICLE REVOLUTION

As the electric vehicle industry accelerates, HPQ positions itself as a key player in meeting the growing demand for engineered SiOx-based battery anode materials. Leveraging proprietary technologies and collaborating with Novacium SAS, HPQ aims to enhance battery technology performance, supporting the electric vehicle industry’s expansion.

PERFECTLY ALIGNING WITH NORTH AMERICAN ENVIRONMENTAL OBJECTIVES

Beyond strategic significance, HPQ’s pursuit of becoming a domestic engineered SiOx supplier seamlessly aligns with broader environmental objectives. Engineered SiOx-based battery anode materials play a pivotal role in crafting high-performance, environmentally friendly batteries, contributing significantly to carbon emissions reduction and the fight against climate change.

CONCLUSION – HPQ IS A TRAILBLAZER IN THE RACE FOR DOMESTIC BATTERIES

HPQ Silicon Inc.’s strategic alignment with the new U.S. regulations establishes it as a trailblazer in the race to fortify domestic supply chains for battery materials. By fostering a resilient SiOx supply chain, HPQ not only contributes to regional innovation and economic growth but also paves the way for a sustainable, eco-conscious future for North America and the global electric vehicle industry. Investors, don’t miss this exclusive interview as HPQ’s CEO, Bernard Tourillon, elaborates on the company’s pivotal role in shaping the electric future. Watch now for a glimpse into the revolutionary world of engineered SiOx materials.

https://youtu.be/TFHu8gCwwqk

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