South Korea’s $54 billion electric-vehicle battery plan for US under threat
President-elect Donald Trump’s skepticism towards electric vehicles (EVs) has led South Korean companies to reconsider their investments in the US. The concerns stem from potential tax credit reductions, which would impact demand and profitability.
Several companies, including Posco Future M, have slowed or halted construction on plants due to uncertainty about future EV demand. These delays may be a result of President Trump’s stance on EV incentives during his second term in office.
Source: https://www.bloomberg.com/news/articles/2024-12-08/trump-ev-skepticism-threatens-54-billion-in-korean-investments