Battery giants, Hyundai concerned by US moves on China supplies.
South Korea’s biggest electric-car battery makers and Hyundai Motor Co. have expressed concern over new US legislation aimed at boosting domestic production of EVs and reducing the use of Chinese materials, moves they say could hurt their competitiveness.
South Korean battery makers source most of their materials from China, and finding new sources could be difficult amid surging demand and short supply. Meanwhile, all the EVs Hyundai currently sells in the US and Europe are made in Korea. The automaker plans to open its first US plant in Georgia in 2025.
The firms are waiting for more details on the US rules and some are already seeking to diversify suppliers outside China, according to people at the four big Korean cell and materials makers, who asked not be named because of the sensitivity of the issue. The draft of the legislation still seems to be vague and the thresholds may be adjusted after US carmakers lobby Congress, some of the people said.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Australian, South Korean Investors Pour More Cash Into SpaceX At $125 Billion Price TagSouth Korea’s Mirae Asset and Australia’s QIC were behind a $250 million cash injection into SpaceX, sources tell Forbes, maintaining SpaceX's recently-set valuation at $127 billion. Scoop by alexrkonrad and DurotMatthew
Leer más »
South Korean president pardons Jay Y. Lee, Samsung heir who was convicted of briberyWith his criminal record wiped, he can formally take the helm of the electronics giant at a critical time for South Korea's economy.
Leer más »
International Insider: Indian Incentive; Under Korean Management; On Location In Locarno; Johnny Depp As LouisWelcome back to another edition of International Insider. This week, you’ve got me, Jesse Whittock, taking you through the big stories from beyond the U.S. shores. Indian Incentive Luring them in: …
Leer más »
Dallas salon shooting suspect indicted on hate crime charge for allegedly shooting 3 Korean womenA man accused of shooting three Asian American women at a Dallas hair salon in May was indicted Tuesday on multiple counts, including committing a hate crime and aggravated assault, the Dallas County District Attorney's Office announced.
Leer más »
Dallas salon shooting suspect indicted on hate crime charge for allegedly shooting 3 Korean womenA man accused of shooting three Asian American women at a Dallas hair salon in May was indicted Tuesday on multiple counts, including committing a hate crime and aggravated assault, the Dallas County District Attorney's Office announced.
Leer más »
Kim Jong Un Was ‘Seriously Unwell’ During North Korean COVID Outbreak, Sister Says“Even though he was seriously ill with a high fever, he could not lie down for a moment thinking about the people he had to take care of until the end in the face of the anti-epidemic war,' Kim Yo Jong said of her brother, Kim Jong Un.
Leer más »