Hyundai Motor, LG Plan $4.3 Billion EV Battery Plant in US | allainews.com

May 26, 2023, 1:51 a.m. | Heejin Kim

Bloomberg Technology bloomberg.com

South Korea’s Hyundai Motor Group and LG Energy Solution Ltd. will invest 5.7 trillion won ($4.3 billion) to produce electric-car batteries in the US to comply with President Joe Biden’s clean energy tax law, which seeks to encourage domestic production and reduce reliance on Chinese suppliers.

batteries battery biden chinese clean energy electric-car energy hyundai hyundai motor group joe joe biden korea ksc:005380 ksc:373220 law president production reduce reliance solution south korea tax

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