Pulse news Korea website has posted, “The South Korean government has formally asked for a three-year exemption on the U.S. Inflation Reduction Act restrictions for consumer tax credits for electric vehicles for Korean companies engaged in facility investment in the United States.”
“The Korea’s Ministry of Trade, Industry and Energy on Friday said it has sent a letter to the U.S. Department of the Treasury addressing to ‘discriminative features in the IRA.'”
“In the exception request specifically aimed to help Hyundai Motor Group EV sales in the U.S., Seoul has asked to ease the “final assembly” definition to make allowance for Korean cars partly assembled in the U.S., Canada, or Mexico.”
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