Alan Ohnsman is a Forbes senior editor who covers cleantech and advanced transportation. He joined Forbes in 2016 and works in Los Angeles. He co-authors the Current Climate newsletter, writes about promising clean energy developments and has covered Tesla since 2006, when he was with Bloomberg News. He has a graduate degree in journalism and a B.
Jose Muñoz, tapped to be the company’s first non-Korean CEO, said its new U.S. auto and battery plants allow it to adapt to regulation changes and loss of a federal electric vehicle tax credit .Jose Munoz, president of Hyundai Motor Co., attends the unveiling of the IONIQ 9, an all electric three-row SUV, in Los AngelesDonald Trump ’s second presidency is expected to herald major policy changes for U.S.
“The other thing we decided, also well before Trump won the election, was that we wanted the plant to be not only for EVs but also producing hybrids and plug-in hybrids,” he explained. “So I'm happy we took those decisions because if you imagine that there’s going to be no IRA, that will probably mean fewer sales of EVs, but potentially more sales of hybrids.”
“We are already on a very fast localization speed. For tariffs, I think that's best, localizing batteries, components and the assembly.” The Hyundai Group, which includes the Hyundai brand, its luxury Genesis line and subsidiary Kia Motors, has rapidly boosted EV sales in the U.S. in the past few years, becoming the second-biggest seller behind only Tesla this year. That said, in the first three quarters of 2024 it sold just 89,589, compared with Tesla’s 471,374.
Electric Vehicles Battreries IRA Tax Credit Trump Georgia Plug-In Hybrid Jose Muñoz
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