Hyundai and SK On just signed up to build a 5bil$ battery plant in Georgia. That’s the first time two Korean companies have come together to build a plant in the US, previously it’s been partnerships Korean battery makers to US OEM Car manufacturers
That is purely down to the IRA. Surely it’s in the US best interests, to keep these sorts of investments coming. I find the republicans a bit contradictory on this, as on one hand they want to repeal Ev tax credits, and the other don’t want any Chinese parts in US car batteries. Go figure?
Back to NVX, another plant is more demand for IRA compliant battery materials. SK On have signed a deal with US company, Urbix for AAM earlier this year.
Media Watch - NVX related, page-9709
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