Donald Trump's EV skepticism threatens $54 billion in Korean investments

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Having Korean battery suppliers is also beneficial for the US to win in the competition against China-dominated supply chains for EVs, he said, adding the group is in talks with US authorities to lobby to keep the credits.

Cutting tax credits would hit Korean battery companies hard at a time they’re suffering from weaker demand for EVs.

South Korea’s three largest battery makers — Samsung SDI, LG Energy Solution and SK On Co.— have announced 15 battery plants in the US, the most aggressive investment drive of any of the world’s three major battery hubs — China, Japan and South Korea.

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Category: BusinessFinance

Markets: IndiaChinaGeorgiaJapanSouth Korea

Topics: Electric vehicles EVs Trump inauguration Donald Trump

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-09 @ 07:51:35 (2 weeks ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Readers: 52 people read this story

Article Length: 992 words

Reading Time: 6 minutes read

Sentences: 28 lines

Sentence Length: 36 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 24251461

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