In this file photo dated Dec 2, 2021, a Hyundai Kona electric car is charged at the Motor Show in Essen, Germany. (MARTIN MEISSNER / AP)
WASHINGTON - South Korea’s Deputy Trade Minister Ahn Sung-il raised concerns on Tuesday with the Biden administration over the revamped US$7,500 electric vehicle tax credit that makes vehicles assembled outside North America ineligible.
ALSO READ: South Korea to raise concerns about EV credits in US visit
Deputy United States Trade Representative (USTR) Sarah Bianchi met with Ahn, USTR said, saying "they agreed the two sides would keep in close contact on this issue over the coming weeks."
The US$430 billion climate, health care and tax bill signed into law by President Joe Biden Aug 16 made about 70 percent of EVs immediately ineligible for the US tax credit, including all EVs offered by South Korea’s automakers Hyundai Motor and Kia Corp.
READ MORE: EU, S. Korea: US plan for EV tax breaks may breach WTO rules