Foreign automakers are big mad about the new EV tax credit

, while others are speeding up plans to build new factories in the US.

EVs built outside North America are not eligible for the $7,500 tax credit. The law also includes provisions aimed at preventing use of battery components or critical minerals derived from China, which currently controls around three-fourths of the global battery market.Two South Korean automakers — Hyundai and its affiliate, Kia — are threatening legal action over the massive climate and energy bill.

It’s the only way you can afford an electric car.

The Hyundai EVs are best looking of the lot!!

They have all the right to be!

Should take it away. It was a scam for the dealers. They over priced the car in as much you could get on tax credit, but not everyone qualifies for the credit, that is.

Unless there is a free trade agreement with South Korea that says they can't do this, you can certainly see the good sense in JoeBiden's bill. Rebuilding US manufacturing capability has benefits for national security, supply chains, the economy, competitiveness & employment.

I would be too. Politicians are do-gooders … picking sides, favoring one business or another, passing laws to protect dealers, etc. The market works, the free market, but once government interferes, problems abound.

Since the US automakers incremented their prices by $8k they should be mad about it.

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