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.
Green Play Ammonia™, Yielder® NFuel Energy.
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