South Korea Emerges as Gateway for Chinese Firms Eyeing US Electric Vehicle Market

Published on: Monday 31 July 2023

Chinese firms are investing in South Korea's battery industry to gain exposure to the U.S. market, leveraging Korea's free-trade agreement with the U.S. and potential tax breaks under Biden's Inflation Reduction Act. Over the past four months, Chinese and Korean companies have announced $4 billion of investments in five new battery factories in Korea, with talks ongoing for more projects, Bloomberg reports. Also Read: Tesla Supplier CATL Prepares To Monetize EV Batteries Under M3P Technology As

News source: https://finance.yahoo.com/news/south-korea-emerges-gateway-chinese-144926295.html

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South Korea Emerges as Gateway for Chinese Firms Eyeing US Electric Vehicle Market