BYD, Sth Korea & Japan threaten US Gov to change EV new incentives

President Biden’s new electric vehicle incentive system is now under review following a formal complaint from South Korean officials. Foreign and domestic automakers were quick to criticize the electric vehicle tax incentive system found within the Inflation reduction act. Manufacturers stated that the requirements for qualifying for incentives would mean that the vast majority of vehicles would not be eligible and hence, would limit consumer choice. However, the policy is now under review after significant pushback from the South Korean government.

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