This early year, President Biden signed the Inflation Reduction Act, which creates new tax credits for electric vehicle purchases, including first-time electric vehicles. Although hailed as an important step forward for climate change mitigation and the environment, vehicles must meet stringent requirements to qualify for tax credits. To meet the requirements for its latest EV, That there are plans to move some particularly popular manufacturing industries EV6 intersection.
The EV Officials reports that the Korean automaker plans to manufacture the EV6 in the US by 2024 to meet the requirements of the new law that only North American-built EVs are eligible for the credits. Even so, there is language in the bill that requires an increase in the percentage of the battery materials and assembly. Affect Volvo, Volkswagen, Toyota, Subaruand others, meaning that a significant number of electric vehicles discounted today will not be eligible for the credit as of January 1, 2023.
Kia and its corporate cousin Hyundai combined with the second position in the electric vehicle market here, so, understandably, they have so-called discriminatory law. The pair have gone so far as to threaten legal action on the matter, but it looks like they’ve decided that it would be easier to build the cars here instead.
Other automakers have also taken similar steps in the last year. Volkswagen is currently building ID.4 electricity intersection at its factory in ChattanoogaTN and Mercedes built the EQS electric SUV in Alabama. Others like Toyota and Subaru have to go even further, as their first electric cars were made in Japan and China.