General Discussion Topics, page-87979

“Hyundai Motor Company, which owns the Hyundai, Kia, and Genesis brands, announced it will invest 10.5 trillion won ($8.5 billion at the current exchange rate) this year on further expanding its electrified range, as well as on its first-ever EV factory in the United States.

The Korean company previously stated that it will spend around $5.5 billion on its new electric vehicle factory in the state of Georgia, which should begin construction in the first quarter of this year, so that leaves $3 billion available for research and development of its current and upcoming EVs, spread across its brands.”

https://insideevs.com/news/633833/hyundai-investment-in-evs-and-american-factory/

In order for Hyundai to go ahead with this project they must comply with the provisions of the IRA, ie the critical minerals needed to make the EVs must come from within the US or approved jurisdictions outside of it.

As Canada is the nearest approved jurisdiction, it would be logical to assume that it will be a major supplier of the minerals they must have.

You can add this project to similar developments by Tesla, Ford, GM, Rivian, etc. (there are currently 237 companies making EVs and HEVs in the US).

https://www.ibisworld.com/industry-statistics/number-of-businesses/hybrid-electric-vehicle-manufacturing-united-states/

I don’t think I need to go any further in painting the picture of the role that SYA can play in the US electric vehicle industry.

Yes, we have touched base with the South Koreans.