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Trump's EV subsidy rollback raises alarm for Hyundai and battery makers

^{Published on 2024-12-17 21:21:45 - MSN}
 

• U.S. President-elect Donald Trump is expected to repeal subsidies for electric vehicles (EVs) and scale back support for the EV industry. The incoming Trump administration will also likely impose tariffs on battery materials imported to the United States.

The article discusses the potential impact of former President Donald Trump's proposed rollback of electric vehicle (EV) subsidies on the automotive and battery manufacturing industries, particularly affecting companies like Hyundai. Trump's plan to repeal the Inflation Reduction Act, which includes EV tax credits, has raised concerns among manufacturers. These subsidies are crucial for boosting EV adoption and supporting domestic production. Hyundai, which has invested heavily in EV production in the U.S., might face significant challenges if these incentives are removed, potentially affecting their market strategy and investment plans. Additionally, battery makers are alarmed as the subsidies help in scaling up production and innovation in battery technology. The rollback could lead to a slowdown in the EV market growth, affecting job creation and technological advancement in the sector.

Read the Full MSN Article at:
[ https://www.msn.com/en-xl/politics/government/trump-s-ev-subsidy-rollback-raises-alarm-for-hyundai-and-battery-makers/ar-AA1w3oi3 ]

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