MP - Lithium names plunge as Manchin hits brakes on Biden electric vehicle push

Senator Joe Manchin told the LNG Allies' Transatlantic Energy Security Forum IV event on Tuesday that he "will not sign up" for an aggressive electric vehicle push, which apparently sent lithium industry stocks (NYSEARCA:LIT) plunging across the board. Among potentially relevant tickers: NASDAQ:PLL -10.8%, NYSE:LAC -10.7%, SLI -7.6%, MP -6.5%, LTHM -6.5%, ALB -3.9%, SQM -3.6%. Manchin raised two objections to President Biden's plan for electric vehicles, according to the Washington Examiner: Proposals have not sufficiently addressed who will get the revenue from the electricity used to charge vehicles with taxpayer-funded charging stations, and U.S. critical mineral supply chains are underdeveloped. "I will not sign up [to transform] our energy and transportation system around EVs that have to be dependent on foreign supply chains," the Senator said, according to the Examiner. At the same event, Manchin reportedly expressed frustration over slow gas pipeline approvals and asked the Biden administration to

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Lithium names plunge as Manchin hits brakes on Biden electric vehicle push