Hyundai Could Accelerate Construction Of EV Plant In The U.S. | Carscoops carscoops
says that the carmaker is considering starting construction of the plant later this year and that production could commence in the second half of 2024.Hyundai Motor Group To Build New EV And Battery Plant In Georgia Creating 8,100 Jobs
South Korean Foreign Minister Park Jin recently expressed his concerns over the new U.S. legislation while speaking with U.S. Secretary of State Antony Blinken. The country will also review whether to file a complaint at the World Trade Organization of the U.S. Inflation Reduction Act, citing concerns that the laws could violate WTO rules, as well as a bilateral free trade deal between South Korea and the United States.
The U.S. Inflation Reduction Act retains the long-standing $7,500 maximum tax credit but scraps the 200,000-unit production limit. However, vehicles must now bein North America to qualify and need at least 40 per cent of their battery materials to be sourced in the U.S. or from a U.S. trading partner. Cars must also cost less than $55,000 and vans, trucks, and SUVs cannot be priced at over $80,000..
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