South Korea's Hyundai Motor Co said Friday it will break ground this month on a $5.5 billion electric vehicle and battery plant in the United States.
The logo of Hyundai Motors is seen at the company's headquarters in Seoul, South Korea, March 22, 2019. REUTERS/Kim Hong-Ji/File Photosaid Friday it will break ground this month on a $5.5 billion electric vehicle and battery plant in the United States.
The groundbreaking comes amid anger from Korea and the European Union over U.S. electric vehicle tax policy.The Inflation Reduction Act, signed by Biden in August, requires EVs assembled in North America to qualify for tax credits in the United States, but excluded Hyundai and its affiliate Kia Corp
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