Inflation Protection Act eliminates tax credit for buyers of S. Korean EVs

by | Sep 13, 2022 | Inflation Hedge

Inflation Protection Act eliminates tax credit for buyers of S. Korean EVs




바이든 인플레법 서명 효과 및 …한국 영향?

So, how will this measure by the Biden administration that disadvantages foreign makers of electric vehicles affect South Korean carmakers?
It does come at an awkward time, when Hyundai and Kia have pledged billions of dollars in U.S. investment.
Could the exclusion of Korean carmakers hurt the industry overall?
And indeed, how fast is the market really moving to electrify?
For an expert’s view of the situation, we are pleased to welcome to the program this evening Mr. Morten Lund, Partner at the U.S. law firm Stoel Rives.
He has extensive experience in the energy industy and supply chains.

Q1. How do the tax credits for EVs work in the U.S., and how big of a driver have they been in the growth of the industry?

Q2. If the tax credit is going to encourage people to buy EVs made in North America, what effect do you see that having on Korean carmakers in particular? Do you see room for negotiation to let Korean cars into the deal?

Q3. Do you see the Inflation Reduction Act as perhaps hindering innovation in the industry because it limits foreign competition to some degree?

Q4. Carmakers have been struggling with shortages of semiconductors. Do you see that being revolved?

Q5. What are the prospects for growth in the U.S. EV market in the coming years? Is it inevitable that most cars in the U.S. market in the next few decades will be electric?

#Inflation_Reduction_Act #electric_vehicle #Arirang_News

2022-08-22, 19:00 (KST)…(read more)

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