Biden to sign US Inflation Reduction Act on 16th
Inflation Reduction Act, subsidy only for North American-produced EVs
As soon as President Biden signs the bill, it takes effect.
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[앵커]
US President Joe Biden is due to sign the Inflation Reduction Act on the 16th local time.
As soon as President Biden signs the bill, Hyundai and Kia’s electric vehicles sold in the United States will not receive a subsidy of regarding 10 million won in Korean money.
Reporter Won-bae Kim reports.
[기자]
The Washington Post reported that US President Joe Biden will sign the inflation-reducing bill on the 16th local time.
According to US media reports, the inflation-reducing bill requires that new car subsidies be limited to electric vehicles manufactured or assembled in North America, such as the United States, Canada and Mexico.
The rule goes into effect as soon as President Biden signs the Inflation Reduction Act.
And the current electric vehicle subsidy payment rules will be abolished.
As the new electric vehicle subsidy payment regulations came into force, the lights went out for Hyundai and Kia Motors.
Currently, the U.S. is subsidizing a new car of $7,500 per car for up to 200,000 electric vehicles per year, regardless of production location.
However, due to the implementation of the new regulations, electric vehicles of Hyundai Motor and Kia Motors, which are all produced in Korea, cannot receive a subsidy of $7,500.
Accordingly, Hyundai Motor Group’s plan to lead the US electric vehicle market by introducing new lineups such as the Ioniq 6 and EV9 next year will inevitably be disrupted.
In particular, concerns are growing as the Ioniq 5 and EV6 are gaining popularity in the US and Europe, such as being selected as the Car of the Year.
This is YTN Kim Won-bae.
YTN Wonbae Kim ([email protected])
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