Hyundai Set to Launch $5.5 Billion US EV Plant as Inflation Reduction Act Dims Sales Outlook

Hyundai Set to Launch $5.5 Billion US EV Plant as Inflation Reduction Act Dims Sales Outlook

Hyundai will break ground on a $5.54 billion (roughly Rs. 45,500 crore) electric vehicle (EV) and battery plant in the US on Tuesday, as South Korea’s biggest automaker grapples with an uncertain outlook for its EV sales in its top market. Hyundai plans to begin commercial production in the first half of…