Korean battery makers relieved by latest US subsidy guidance

The Korea Herald

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Korean battery makers relieved by latest US subsidy guidance

South Korean battery makers are breathing a sigh of relief as the US Treasury Department’s newly unveiled guidance on battery sourcing does not require them to change their current production process right away to receive the US government’s subsidies provided to electric vehicle buyers under the Inflation Reduction Act. Under the IRA, EV and battery makers have to meet certain requirements for both the c...