Battery concerns: A worker with lithium batteries for electric cars and other uses. Having South Korean battery suppliers is also beneficial for the United States to win in the competition against China-dominated supply chains for EVs. — AFP
SEOUL: South Korean companies are reconsidering their US$54bil investment blitz to build electric-vehicle (EV) battery plants in the United States over concerns President-elect Donald Trump could undo tax credits for EVs.
Some South Korean companies have slowed or hit the pause button on any ongoing construction of some plants because they’re concerned about reduced demand for EVs and what Trump would do during a second term in the White House, people familiar with the matter said, asking not to be identified due to the sensitivity of the issue.
