Kia will start production of electric vehicles in the United States starting in 2024 in order to qualify for the electric vehicle (EV) tax credits in the Inflation Reduction Act. The report highlights details and cites an unidentified source, but the news is not unexpected given the recent passage of the Inflation Reduction Act.
The climate provisions of the Inflation Reduction Act included a large change to the electric vehicle tax credit, both expanding its application to make it available for more than ten years, and making it simpler to claim for consumers. The main intent of the law is not just to take action on climate change, but to boost manufacturing in the United States in green energy space.
These changes also include some new provisions that make electric vehicles ineligible for the credits. The main provision is a requirement that electric vehicles undergo final assembly in North America in order to qualify for credits.
The government of the United States has released and is also updating a list of vehicles eligible for electric vehicle tax credits, and they will keep it updated as more cars are added. Since the new law was signed, many manufacturing companies have already announced manufacturing facilities in the United States, and have brought forward plans to build electric vehicles in the United States.
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