Hyundai Says $7.4 Billion U.S. EV Plan Is Waiting on Congress

Hyundai Motor Co. said the timing and details of its planned $7.4 billion investment to support electric-vehicle manufacturing in the U.S. depend on whether Congress passes President Joe Biden’s infrastructure bill.

“We have the plans. We want to see it finalized,” Jose Munoz, the Korean automaker’s chief operating officer, said on a conference call with reporters. Hyundai is waiting to “clarify the incentive situation to make concrete announcements about additional capacity.”