Researchers testing battery cells with silicon oxide at a Daejoo factory in South Korea. — Bloomberg
SEOUL: South Korean battery and energy firms that have already built production sites in the United States are expected to receive tax credits from the US Inflation Reduction Act (IRA), South Korea’s Trade, Industry and Energy Ministry says.
The US Department of Treasury earlier unveiled proposed guidelines for manufacturers looking to receive consumer tax credits for making eco-friendly energy components such as batteries for electric vehicles and solar panels.
