Groundbreaking ceremony for electric vehicle exclusive plant in Georgia
“The White House climate adviser will attend”
“It is undecided whether there will be a separate meeting related to the IRA”
Hyundai Motor Group Chairman Chung Eui-sun will visit the US next week to meet with White House officials, foreign media reported.
According to Bloomberg News on the 19th (local time), Chairman Chung is scheduled to attend the ceremony for the commencement of Hyundai Motor’s electric vehicle-only plant in Georgia, which is scheduled for the 25th, and Ali Zaidi, White House climate adviser, will also be present.
Hyundai Motor Company will hold a ceremony to celebrate the groundbreaking of an electric vehicle-only plant in Georgia next week and start construction in earnest early next year.
It is not known whether Chairman Chung will hold a separate meeting with Jaydi’s aide or discuss the issue of electric vehicle subsidies. Zaidi is not authorized to publicly discuss amendments to the bill, Bloomberg explained.
A Hyundai Motor Group official said, “There is nothing we can confirm regarding the specific schedule.”
After the Inflation Reduction Act (IRA), which excludes subsidies for electric vehicles that have not been assembled in North America in August, went into effect, Hyundai Motor is said to be intensifying its lobbying efforts once morest the U.S. Department of the Treasury, which makes guidelines related to tax credits.
In addition, it is reported that they are seeking ways to delay the enforcement of the IRA clause that requires final assembly in North America to buy time until the electric vehicle-only plant is completed in the United States, through diplomatic channels.
According to the IRA, only electric vehicles that are finally assembled in North America this year can receive a tax credit, and additional conditions must be met, such as using battery parts and core minerals produced in the United States in a certain proportion in the future.
Hyundai Motor Group (Hyundai Motor Group, Kia Motors) is currently producing all electric vehicles such as the Ioniq 5 and EV6 in Korea, so it cannot receive subsidies for electric vehicles up to $7,500 (regarding 10.64 million won) per unit for at least several years.
“Hyundai Motors and the Korean government are strengthening lobbying for easing related regulations,” Bloomberg said.
Reporter Noh Jeong-dong, Hankyung.com dong2@hankyung.com
