BYD is a massive Chinese company operating in multiple industries, including solar panels, industrial equipment, and autos. Rumors of its imminent arrival in North America have swirled in recent months, and the automaker was expected to mount a strong showing at CES in Las Vegas earlier this month, but nothing materialized. 

Tax credits for electric vehicles have never been the easiest to understand, and the changes recently made with the Inflation Reduction Act have caused even more confusion. The legislation rebooted the federal EV tax credit, bringing new requirements on final vehicle assembly and raw materials sourcing. Though at first, it appeared the new rules would exclude EVs from some of the country’s most popular automakers, the IRS released more guidance that seems to leave a small loophole open for hopeful buyers seeking a credit.

Following the passing of the U.S. “ Inflation Reduction Act,” South Korea came to the defense of Hyundai Motor Group to urge America to postpone things until the automaker completed a facility in Georgia intended to manufacture all-electric vehicles. Hyundai chairman Chung Eui-sun had reportedly expressed serious concerns that revamping and renewing the EV credit scheme disproportionately advantaged certain manufacturers – sending the Korea Automotive Industry Alliance into lobbying overdrive.