Top Kia Executive Has Something To Say About Biden’s Inflation Reduction Act

For Kia and its sister brands Hyundai and Genesis, the situation is a bit different. Plans are already in place to build a massive new EV manufacturing facility, budgeted at $5.54 billion, not far from Savannah, Georgia. A second plant is also coming to build certain EV components. This past week, we reported about the possibility of another new Georgia facility, one dedicated solely to battery production, though Hyundai Motor Group has not confirmed this yet.

Despite the South Korean automaker’s commitment to US manufacturing, those manufacturing complexes won’t come online until for a few more years, and the vehicles they’ll produce, possibly the Kia EV6 and the just-revealed Hyundai Ioniq 6, won’t be eligible for the tax credit until March 2026. Right now, however, the IRA is a challenge, rather than a benefit.