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Hyundai Mobis to invest $926M in EV systems plant in Georgia

Green Car Congress

Hyundai Mobis plans to invest $926 million in an Electric Vehicle (EV) Power Electric system plant in Bryan County that will eventually employ at least 1,500 people. The EV Power Electric system plant will expand Hyundai Mobis’ current footprint in Georgia.

Georgia 186
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Hyundai surpassed Volkswagen Group’s operating profit

Teslarati

The South Korean automaker attributes its success to diverse offerings, including electric vehicles, plug-in hybrids, and gas-powered cars. As of the first quarter, Hyundai has the second-highest operating profit in the global automotive industry. In Q1 2024, Hyundai Motor Group reported an operating profit of $5.09

Hyundai 68
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LG Energy Solution and SK Innovation to end all legal disputes over EV batteries in US and Korea

Green Car Congress

LG Energy Solution and SK Innovation have decided to settle to compete in an amicable way, all for the future of the US and South Korean electric vehicle battery industries. US President Joe Biden issued a statement on the resolution: This settlement agreement is a win for American workers and the American auto industry.

Legal 170
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LG Energy Solutions & Hyundai team up for battery plant in the United States

Teslarati

Hyundai Motor Group and LGES signed a memorandum of understanding on May 26 in Seoul, Korea, for a battery cell manufacturing facility in Bryan County, Savannah, Georgia. The battery plant would allow Hyundai electric vehicles (EV) to qualify for the Inflation Reduction Act’s (IRA) $7,500 tax credit. based battery plant.

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Inflation Reduction Act – How It Supercharges the Electric Vehicle Industry

EV Match

The recently passed Inflation Reduction Act (IRA) is arguably the most significant piece of climate legislation the United States has ever seen, including significant investments in clean energy and consumer incentives to accelerate electric vehicle (EV) adoption. Impacts on the electric vehicle ecosystem.

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Rivian cuts prices on its base R1T and R1S ahead of R2 launch

Teslarati

The price is down from previous R1T and R1S prices of $74,800 and $79,800 with the delivery fee, The news also comes ahead of Rivian’s launch of the R2 vehicle platform on March 7 , and as many in the auto industry have aired concerns around cooling electric vehicle (EV) demand.

Price 118
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Gas War: 25 States Sue EPA Over Updated Emissions Regulations

The Truth About Cars

Grievances include claims that the executive branch is unconstitutionally manipulating the marketplace by setting requirements higher than manufacturers can adhere to, effectively mandating sales of electric vehicles that have been broadly unpopular in the United States. Swelling vehicle prices was another issue.&

EPA 95