In a bid to unlock incentives for clean energy technologies and transform the position of the United States on the global clean energy map, the Biden administration succeeded in getting the Inflation Reduction Act (IRA) passed into law on August 16, 2022. Among the many tax incentives the bill gives to clean energy industries, it provides massive support for the lithium-ion battery (LiB) value chain for electric vehicles (EVs) and energy storage. In less than one year since its passage, the IRA has already led to a flurry of investment activity, particularly in the US downstream cell industry,1 and has been touted as a major game changer for US battery economics.