Mining Giant Fortescue to Spend Billions in Bid to Eliminate Fossil Fuels by 2030

Taking Apart an EV Battery Illustrates Why ‘Made in America’ Will Be Tough.
Australian iron-ore producer says clean-energy spending will lower long-term costs and push
 the industry toward making green steel for car makers and other customers.

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President Biden’s Inflation Reduction Act calls for at least 50% of an electric vehicle’s battery to be made in the U.S. to qualify for a federal discount. WSJ’s George Downs breaks down a battery to explain why that is going to be a challenge. Illustration: George Downs

Fortescue Metals Group Ltd. FMG -0.86%▼ will spend more than $6 billion on renewable energy and stop using fossil fuels by 2030, a pledge that the Australian iron-ore giant says will lower energy costs and mark a key step toward producing low-carbon steel.

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