South Korea Sees ‘Betrayal’ in Biden’s Electric Vehicle Push

South Korea Sees ‘Betrayal’ in Biden’s Electric Vehicle Push

https://reddit.com/r/electricvehicles/comments/x5kyqu/south_korea_sees_betrayal_in_bidens_electric/
TheArstaInventor
https://www.bloomberg.com/news/articles/2022-09-02/south-korea-sees-betrayal-in-biden-s-electric-vehicle-push


South Korea Sees ‘Betrayal’ in Biden’s Electric Vehicle Push



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20 thoughts on “South Korea Sees ‘Betrayal’ in Biden’s Electric Vehicle Push

  1. Let’s be honest. The tax credit for the imports or any evs for that matter are just icing on the cake for the manufacturers. There’s so much demand now, they’re able to charge above msrp. The tax credit are in place to incentivize ev adoption which really isn’t necessary any more. Plus the manufacturers factor the incentives into their msrp and probably mark it up a few more $s.

    Manufacturers are going to sell their cars in the US because they make a lot of profits from this market. No need to help them make more with US tax dollars.

  2. I doubt SK or LG are complaining much. This also puts a much bigger hurdle in front of imports like Polestar (and possibly VinFast, MG and BYD in the future). It builds a moat around CATL cells, which are already used in some Teslas, and which could be used in VW’s ID. There is more of a 12-24 month *timing* issue for Kia/Hyundia, who were already building production in the US. In the long-term, this will be a net benefit for Korean industry, including Kia/Hyundai, and especially SK & LG.

  3. Before the I5 and EV6, Hyundai and Kia had been selling their scraps here for the last few years, in only a select few states. They had the capability to sell their EVs here as much as any other company under the old incentives, but they prioritized deliveries to other countries.

  4. The law has huge economic incentives, acting as a hammer, when they could have used a screwdriver instead. Both spending extra money and having some pretty interesting unforeseen consequences as well. A simple $3000 point of sale credit for ALL EV’s with a certain all electric range would have done the trick more cleanly, efficiency and without bending the market so much.

  5. I do not agree with the Biden administration on this part they are pushing green energy and EVs to reduce emissions then turn around and cut most of the ev manufacturers out of a tax credit that would increase ev adoption one of those times where the left hand doesn’t know what the right hand is doing

  6. I agree with South Korea to some extant. The error in the headline is that it was Biden that wanted South Korea to not qualify. I think you have to look to the senate for that. Joe Manchin specifically.

  7. The USA could create a “trusted partner” provision where a treaty is signed with countries we consider friendly for things like this. We already have a free trade agreement with Korea, which they benefit from, but giving them some incentive for the EV’s might make more EV’s available in the USA.

    I mean, you could say that the Act is protectionist, but that’s a bad word, apparently.

  8. They were perfectly ok when incentives ran out for Tesla.

    Boo hoo make your shit in North America or offer your own incentives. We are protecting your whole country from North Korea and China. Try dropping the price Gangnam style.

  9. Who cares what S Korea thinks, we prop them up via military…we allow them to build plants here an profit via US EV sales… No more subsidies unless you build here……. that’s it…

    They do not subsidize cars imported into South Korea…

    I say

    ![gif](giphy|cKbFLuqYddZJppCnBB|downsized)

  10. I am reminded that the LG chem batteries in the Chevrolet Bolt caused a recall of every Bolt for a battery replacement. Especially the batteries made in Korea. Will this avoid catastrophic fires? No. I just resent that I still have to deal with the recall so I can’t be bothered to care that the US government has policies benefiting the US people.

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