‘Inflation law may disrupt Korean exports of 100,000 plus EVs’
Aug 25, 2022
South Korean carmakers on Thursday said at least 100,000 electric vehicles built here would face disruption in export sales annually under the new US law, which excludes battery-powered vehicles made outside of the US from tax credits. They also urged the South Korean government to revise the current subsidy law and map out temporary measures for local carmakers, such as tax credits. According to the Korea Automobile Manufacturers Association, of which Hyundai Motor and Kia are members,