Kia Corp is planning to start producing electric vehicles in the United States in 2024, according to South Korean media Maeil Business Newspaper and TV channel SBS, citing an unnamed auto industry source.
Since Hyundai Motor Co. and its affiliate Kia Corp don’t yet produce EVs in North America, the Inflation Reduction Act, which was signed into law by U.S. President Joe Biden last month, disqualifies them from receiving federal tax credits, effectively killing their EV ambitions, at least in the short term.
To share EV shipments with the American plant, Kia must get the consent of the union. According to reports, the union has approved the plan.
Kia had planned to manufacture its first all-electric SUV model, the EV9, in the United States, but has changed its plans in order to maintain its growing presence in the market.
