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Hyundai Lobbies US to Ease EV Rule That Hurts Foreign Carmakers

  • Credits in climate law gives Korean company’s rivals advantage
  • Provisions aimed at bolstering EV manufacturing in US
A Hyundai Ioniq 5 electric SUV.

A Hyundai Ioniq 5 electric SUV.

Photographer: Jeenah Moon/Bloomberg
Updated on

Hyundai Motor Co. and the South Korean government are ratcheting up lobbying to loosen restrictions that Senator Joe Manchin fought to include in this year’s US climate law, arguing the rules could blunt the automaker’s rapid growth in the market.

At issue is a requirement to limit a $7,500 consumer tax credit to electric vehicles built in North America, since Hyundai won’t have an EV plant there until 2025.