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Kia looks to secure US federal tax credit for EV9 in 2025

Teslarati

It appears that South Korean automaker Kia is taking some steps to ensure that its EV9 all-electric SUV will qualify for the full $7,500 federal tax credit in the United States next year. By producing the EV9 in Georgia, the all-electric SUV could qualify for a partial EV tax credit.

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Kia to begin EV9 production in the US by May, expects $7,500 EV tax credit eligibility by 2025

Baua Electric

Kia expects the EV9 will qualify for the full $7,500 EV tax credit by early next year. Kia America’s head of corporate communications, James Bell, told Nikkei that moving EV9 production to its West Point, GA plant will enable it to qualify for a part of the EV tax credit. FTC: We use income earning auto affiliate links.

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Kia will push EV leasing to harvest tax credit score boon

Baua Electric

. “There’s been a bit of a pause in the industry for some brands on electric vehicle sales as everyone sorted out the tax implications of the Inflation Reduction Act,” Watson defined. On account of the tax credit score adjustments, Kia expects leasing as a proportion of its EV trade to extend from 15 p.c

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Kia to Rely on Lease Loophole to Make Its EVs Eligible for Tax Credit

The Truth About Cars

Though their electric vehicle lines are among the most compelling new zero-emissions models, Kia and Hyundai’s EVs don’t currently qualify for federal tax credits because of where they’re built. Both are working toward bringing EV production to the U.S., Image: Kia] Become a& TTAC insider.

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LG Energy Solution secures lithium supply for the North American market

Teslarati

According to the agreement , WesCEF will supply the South Korean battery supplier with up to 85,000 tons of lithium concentrate. Tesla 4680 battery production by LG starting later this year Through their offtake agreement, LGES and WesCEF aim to deliver top-quality IRA-compliant batteries to customers.

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South Korea’s Yoon pledges to extend tax benefits for chip investments – ET Auto

Baua Electric

In January 2023, the government unveiled a plan to offer large tax breaks to semiconductor companies investing at home, which are set to end this year. South Korean President Yoon Suk Yeol said on Monday that he would extend tax credits on investments in the domestic semiconductor industry to boost employment and attract more talent.

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SK Innovation Q2 profit tops forecast, battery unit eyes EV demand recovery – ET Auto

Baua Electric

SK Innovation Co Ltd said on Monday its SK On battery-making unit is on target to breakeven in the second half of this year after it posted a forecast-beating operating profit in the first quarter, sending its shares up over 6.0%. billion won in the previous quarter due to fewer EV battery shipments. rise as of 0336 GMT.

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