South Korean car giant is putting plans in place for a sudden shift in relations with Washington if Donald Trump wins November’s US presidential election, fearing a threat to its new $7.6 billion Metaplant in Georgia, electrek reported.
Hyundai’s factory alone will create 8,500 jobs and research from the Center for Automotive Research (CAR) shows that, including its suppliers, Hyundai’s new EV plant is attracting another $12.6 billion in investment which could generate another 50,000 new jobs, the story went on.
But bosses in Korea are now worried that a Trump return to the White House could see a reverse in Joe Biden’s EV incentives, which saw Hyundai rushing to get the plant up and running to meet the requirements of the Inflation Reduction Act (IRA), passed in August 2022.
- By Sean O’Meara
Also on AF:
Indonesia’s First EV Battery Plant Launched by Hyundai, LGES
Hyundai Motor to Sell Russian Plant at $219 Million Loss
Hyundai Showcases its First High-Performance Electric Car
Hyundai, Honda Partner EV Rivals to Take on Tesla Supercharger
