Controversy continues over the US inflation reduction law, which does not subsidize Korean electric vehicles.
In the midst of this, a high-ranking official at Hyundai Motor Company even mentioned Mexico as an alternative, saying that if the damage from this bill increases, there will be no choice but to reconsider the plant being built in Georgia.
Correspondent Seung-mo Nam from Washington will tell you first.
A video seminar held at an American research institute on the theme of eco-friendly vehicles.
A question arose about the Inflation Reduction Act, which provided subsidies of up to $7,500 per unit and about 10 million won in our money only for North American electric vehicles.
When asked if there is a possibility of canceling or reducing the electric vehicle plant under construction in Georgia if the damage increases, a senior Hyundai Motor official hinted at the possibility of reconsidering the investment.
[Robert Hood/Vice President of Government Affairs at Hyundai Motor Company : If the inflation reduction law continues to hamper
our growth, I think we have no choice but to seriously reevaluate where we are going.]
It's very likely that you won't be able to reach it.
Also, in this case, we may not be able to meet our employment and production targets with Georgia, and we may not be able to receive some of the 1.8 billion dollars and 2.3 trillion won of incentives that Georgia is known to have promised.
The US market is very important, so Hyundai Motor Company said that it did not want to leave the US, but it also mentioned Mexico as an alternative for cheap labor.
[Robert Hood/Hyundai Motor Vice President of Government Affairs: In Mexico, prices, labor, production costs, and everything else are quite cheap.
It remains to be seen if the company decides to reconsider that possibility.]
The Georgia plant, which is scheduled to produce up to 300,000 units per year, is currently in the process of grounding the plant site with the goal of completion in 2025.
(Video coverage: Park Eun-ha, video editing: Jo Moo-hwan)
▶ Unusual 'super strong remarks'...
What is the situation and intentions of Hyundai Motor Company?