The Korean carmakers are expected to weather the slowdown through sales of other models, industry sources in Seoul said.“Hyundai and Kia have various technologies of hybrids and extended range electric vehicles, which connect internal combustion engine cars with pre-EVs,” said one source.
The transition team is also seeking to abolish the advanced manufacturing production credit (AMPC), a tax benefit for battery producers and others, sources in the US Senate told The Korea Economic Daily.“The AMPC is also subject to review for scrapping as Korean makers, not US companies, are the major beneficiaries of the incentive,” said one of the sources.
They are also equipped with a small internal combustion engine to generate additional energy.“With higher US tariffs on Chinese cars, Hyundai and Kia will be able to increase their overall market share if they improve their networks in North America based on cost competitiveness,” the source said.Toyota Motor Corp.enlarged its presence in the US by expanding its production and sales networks there during the US-Japan trade conflict of the 1980s and 1990s.
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