Inflation Reduction Act and the Auto Industry

supply chain: 공급망
It’s designed to incentivize US production of EVs and batteries and reduce the reliance on foreign supply chains.

consensus: 합의, 공통된 의견
And I think the consensus of the panel was, it’s not alone going to get us there, but it’s helpful.

profound: 엄청난
speculation: 추측
Officials say the IRA will have a profound impact on the industry, but speculation remains on if this regulation is more challenging than it is helpful.

globally competitive: 세계적으로 경쟁력 있는
Listen, I think the US auto industry is strong, globally competitive, and I don’t see that changing.

domestic: 국내의
equal footing: 동등한 위치
But panelists say the law has sparked domestic investments from automakers and suppliers and has put US companies on equal footing with those in other countries.

niche market: 틈새 시장
I think it’s going to be a major component in how the EV is going to move from just a niche market into mainstream.