A bill to suspend the application of subsidy-related provisions to Hyundai Motor's electric vehicles for several years has been submitted to the US Senate amid controversy over discrimination as Korean electric vehicles exported to the United States are excluded from subsidies due to the enforcement of the Inflation Reduction Act (IRA) in the United States. That's it.



Senator Rafael Warnock (Democratic) from Georgia, who decided to build an electric vehicle plant by Hyundai Motor Company, announced on the 29th that he had introduced a bill to suspend some provisions of subsidies from the IRA.



The bill, called 'Reasonable Electric Vehicle Bill for the United States', aims to suspend the application of IRA subsidy provisions to companies preparing to produce electric vehicles in the United States, such as Hyundai Motor, until 2026. there is.



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The IRA, which was previously passed by the US Congress and signed by President Biden on the 16th of last month, promulgated the IRA, which is a maximum of $7,500 (about 10 million won) per unit only for electric vehicles that use batteries and core minerals that are finally assembled in North America and produced in the United States at a certain rate or more. stipulated to provide subsidy benefits.



However, due to this provision, electric vehicles of Hyundai Motor and Kia Motors, which are currently produced in Korea and exported to the US market, are excluded from subsidy payments and are at a disadvantage, such as impeding sales immediately.



Warnock's bill, among the requirements to be eligible for subsidies, requires that conditions related to battery production in the U.S. be deferred until 2025 and conditions related to the final assembly of electric vehicles in the U.S. until 2026.



Hyundai Motor Company plans to complete the electric vehicle plant under construction in Savannah, Georgia by 2025, so if Senator Warnock's bill is passed, Hyundai's electric car will not be penalized until the plant is completed.



"With this legislation, we hope that Georgia consumers will be able to enjoy all the benefits of the existing law (IRA)," Warnock said.



However, as the US Congress enters full-fledged pre-election ahead of the midterm elections in November, it is unlikely that the deliberation and passage of the bill will proceed immediately.



(Photo = Getty Images Korea)