The Blubber

Per Reuters

Kia has recently announced that it plans to build a new plant in the US capable of building its EV9 SUVs in 2024. The decision comes with a supposed $200 million budget.

The company noted that they will be supplying around 200 jobs with this factory to help in the production of its EVs. The specific EVs to be built include Kia's three-row SUVs alongside other models.

The plant is expected to be built on West Point, Georgia, and is considered Kia's first EV assembling plant in North America. This comes as the company is following other major automotive companies regarding the shift away from gas-powered vehicles.

The company would be eligible for up to $7,500 in consumer EV tax credits in the US. These benefits fall under the $430 billion US Inflation Reduction Act (IRA).

In July, it was reported that New York City had sued Hyundai Motor Co and Kia Corp for making cars that were supposedly "too easy to steal." The accusations are the vehicles produced by these South Korean automakers were prone to theft.

Toward the end of April, it was reported that the share of US adults that said they or someone within their household owned or leases an EV was just at 8%.

See flow at unusualwhales.com/flow.

Other News:

• New York City has sued Hyundai Motor Co, $KRW, and Kia Corp, for making cars that are "too easy to steal".
• The share of US adults that say they or someone within their household owns or leases an EV sits at just 8%

Resources:

Reuters