(사진= 현대차그룹)

[Alpha Biz=(Chicago) Reporter Kim Jisun] Hyundai Motor Group is speeding up its response to the U.S. Inflation Reduction Act (IRA), which provides subsidies in the form of tax deductions only for electric vehicles made in North America. 

 

Hyundai Motor Group plans to increase local production of electric vehicles at existing internal combustion locomotive plants, apart from electric vehicle-only plants being built in Georgia with the aim of full-scale operation in 2025. Genesis GV70 production will begin in the first half of this year, and Kia will start mass production of EV6 and EV9 in the United States next year at the latest.

According to related industries on the 6th, Hyundai Motor is stabilizing its electric power production line built at its Montgomery plant in Alabama, USA. In addition to existing internal combustion locomotives, Genesis GV70 electric vehicles will be mass-produced here in the future. This is the first time Hyundai Motor Group has made an electric car in the United States.

GV70 electric vehicles will also be recognized as SUVs as the U.S. Treasury Department changed its vehicle classification criteria for tax deductions to fuel mileage labeling standards from the Business Average Fuel Efficiency System (CAFE) of the Environmental Protection Agency (EPA) on the 3rd (local time). As a result, GV70 electric vehicles are expected to receive subsidies if the price does not exceed $80,000.

Kia also plans to produce two types of electric vehicles, EV6 and EV9, in the U.S. starting next year to respond to IRA. Both types are not currently being built for electric vehicles, but will be mass-produced by installing electric power production lines at Kia's internal combustion locomotive plant. In addition, the company plans to continue to expand the portion of corporate sales and subscription services that do not correspond to IRA.

 

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