Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 939

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 939
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 out in the criteria to qualify for clean vehicle tax credits. As a result, between August 2022 and March 2023, major electric vehicle and battery makers announced cumulative post-IRA investments of at least USD 52 billion in North American electric vehicle supply chains – of which 50% is for battery manufacturing and about 20% each for battery components and electric vehicle manufacturing. Hybrid and Electric Vehicle Manufacturing Industry 6 Industry Definition This industry primarily manufactures hybrid and electric automobiles that use one or more electric motors for propulsion. A hybrid electric vehicle (HEV) is a type of a vehicle that combines a conventional internal combustion engine (ICE) propulsion system with an electric propulsion system. The most common form of HEV is the hybrid electric car, though hybrid electric trucks (pickups and tractors) and SUVs also exist. Industry Performance Hybrid and Electric Vehicle Manufacturing industry revenue has grown at a CAGR of 32.1% to $104.8 billion through 2024, including a 19.9% rise in 2024 alone, when profit is set to reach 6.0%. Companies must make more efficient vehicles •Global warming remains an important environmental and social issue; more consumers prefer eco-friendly products, despite often higher prices. Fully electric vehicles emit three times less the emissions that cars running on gasoline generate. •Lower emissions, reduced carbon footprint and higher fuel economy make electric and hybrid cars more attractive to potential buyers. According to the University of Michigan’s Transportation Research Institute, the average cost to fuel an electric car was $485 a year, compared to $1,117 for a gas-powered vehicle. •Based on the Alternative Fuels Data Center data, hybrids, plug-in hybrids and all-electric vehicles emit 6,258, 5,779 and 3932 pounds of carbon dioxide per year, respectively. Comparatively, gasoline vehicles emit more than 11,000 pounds of CO2 per year. The manufacturing process in power plants produces the majority of emissions. Government assistance fuels demand •In 2021, the president passed an executive order called the EV Acceleration Challenge. This executive order strives to make “zero-emissions vehicles, including battery electric, plug-in hybrid electric or fuel cell electric vehicles” half of all new car sales by 2030. •Similarly, the Inflation Reduction Act, passed in 2022, provides up to $7,500 in tax credits for eligible new and used electric vehicle purchases. To qualify for this program, the final assembly must be in North America,