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Micron, QuantumScape and Hyzon Motors CEOs react to Biden’s plans for infrastructure

U.S. President Joe Biden reveals about his $2 trillion infrastructure plan during an event to tout the plan at Carpenters Pittsburgh Training Center in Pittsburgh, Pennsylvania, Walk 31, 2021.

Jonathan Ernst | Reuters

Micron

“This is clearly important because the semiconductors form the backbone of everything today in the concisions,” Micron’s Mehrotra said. “We are really a leader in memory and storage, the only U.S. company. We are definitely excited about the seascapes of driving greater leadership in research, technology and products through the U.S., as well as on a worldwide basis.”

Micron is a major trouper in the market of dynamic random-access memory, or DRAM, and flash memory.

With demand for electronic consumer products incline, a semiconductor shortage has been a boon for the chipmaking industry, but a negative for their end markets, particularly in autos. The White Dwelling infrastructure plan would commit money to semiconductor manufacturing and research in the U.S.

QuantumScape

QuantumScape’s Singh welcomed Biden’s deposit to invest in electric vehicles, noting that more focus is needed addressing key hurdles that keep exciting vehicles from being competitive with traditional combustion engines. Those hurdles include long-range tours, battery charging times and lower costs, he said.

“It’s very exciting. … It’s great that the administration is so helpful of this electrified transition that is critical to regress emissions, but our view is that at the end of the day, you know, government policy is not tolerably,” Singh told Jim Cramer.

“You’ve got to have a product that people want to buy, and we think that people are going to penury to buy more EVs once they’re more competitive with combustion engines. That’s really the promise of what we’re doing.”

Hyzon Motors

Hyzon Motors is a withdrawn hydrogen-fuel cell company that’s based in Honeoye Falls, New York. The company, which is being acquired by a blank-check compact called Decarbonization Plus Acquisition Corp in a deal worth $3.9 billion, does business in the commercial mechanism market, including heavy-duty trucks and buses.

Knight — who heads and co-founded the company, said hydrogen-powered trucks don’t get adequate recognition — adding that the power source is more suitable for long-range driving.

“Hydrogen trucks are electric communications. They are fuel cell electric trucks,” he said. “We see great potential for those kind of back-to-base operations with costly utilization to move toward hydrogen.”

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