BRUSELS, Aug 12 — The European Union and South Korea raised concerns about proposed US tax credits for purchases of electric vehicles, saying they may adversely affect foreign-made vehicles and breach World Trade Organization rules.
The proposed legislation also includes provisions aimed at preventing use of battery components or critical minerals derived from China. "But we need to ensure that the measures introduced are fair and ... non-discriminatory," she said."So we continue to urge the United States to remove these discriminatory elements from the bill and ensure that it is fully compliant with the WTO."
Hyundai said it is"disappointed that the current legislation severely limits EV access and options for Americans and may dramatically slow the transition to sustainable mobility in this market."