web analytics

For South Korea, U.S. EV Subsidies Both Give and Take Away

The Inflation Reduction Act provides a plethora of subsidies to boost domestic manufacturing for goods that help combat climate change. Tweaks to subsidies for new electric vehicles, however, are causing some ripples for U.S. foreign relations.

South Korean automakers may be hurt by the legislation. But its battery makers, including global heavyweight LG Energy, may benefit down the road.