Reported 3 days ago
South Korean companies are reevaluating their $54 billion investment in electric vehicle (EV) battery plants in the US due to concerns that President-elect Donald Trump could repeal tax credits that support the EV market. As companies pause projects amidst fears of reduced EV demand and potential cuts to government incentives, industry leaders express anxiety about the impact on their operations and jobs in the US, particularly as prices for electric vehicle components are dropping. The situation highlights the delicate balance between US-Korea relations and the competitive landscape against China in the EV sector.
Source: YAHOO