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Just as today we can look at a nighttime satellite image and see the black void that is recalcitrant, unelectrified NorthKorea, once that was China. The BYD plug-in hybrid I drove performed well. Today China is as illuminated as the rest of the world, and they are carrying electrification further.
These additional requirements are meant to encourage the auto industry to rely less on foreign countries like China and more on domestic sources for these components, promoting local manufacturing and supply chain security. Read on or just use EV Life’s EV Savings Calculator to tell you what you and your vehicle qualify for.
1, any vehicles with key battery components sourced from a “foreign entity of concern”—China, Russia, Iran, or NorthKorea— will be disqualified in 2024 , as will corporate subsidies if a “parent entity” from one of those countries directly holds more of 50% of the automaker’s interest. Starting Jan.
Starting in 2024 , to reinforce America’s supply chain security, a clean vehicle must not incorporate any battery components produced or assembled by a Foreign Entity of Concern (FEOC). As of 2022, there are 230 Hybrid & Electric Vehicle Manufacturing businesses in the US, reflecting a 9.4%
We are considering re-badging our commercial EVs and supplying GM, Hyundais CFO, Lee Seung Jo, said on a conference call (via Reuters ) Thursday. Lee added the deal would pave the way for our entry into the North American commercial vehicle market. Hyundai will also add hybrid output to the mix in Georgia.
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