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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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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. Currently, production of the EV9 is in South Korea, but Kia is looking to start manufacturing the all-electric SUV at its West Point, Georgia plant.

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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. Kia’s first three-row electric SUV is off to a good start.

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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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Exide Industries Q4 Results: Firm beats profit view on higher demand – ET Auto

Baua Electric

Exide’s standalone profit after tax rose 36.6% Indian battery-maker Exide Industries beat fourth-quarter profit expectations on Tuesday, helped by higher demand in its automotive and industrial products segments. Exide’s standalone profit after tax rose 36.6% from a year ago to 2.84 bn rupees as per LSEG data.

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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., has a free-trade agreement, and the EV has a North American final assembly location.

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Chevrolet Spark EV priced below $25,000 with tax incentives; Oregon and Canada added to markets

Green Car Congress

The 2014 Chevrolet Spark EV ( earlier post ), introduced today ahead of the Los Angeles International Auto Show, will be priced under $25,000 with tax incentives. Apple’s Siri will be available for customers with compatible (4S and newer) iPhones. Earlier post.).

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