South Korea’s makers of electric vehicles receive a nasty shock
A failure of diplomacy and planning sparks anger at the government
CHUNG EUI-SUN could be forgiven for feeling betrayed. In May the chairman of the Hyundai Motor Group, a South Korean carmaker, promised President Joe Biden that his firm would invest $10.5bn in America, including $5.5bn for a big new plant in Georgia, which would start producing electric vehicles in 2025. America’s president thanked him, saying “we will not let you down.”
This article appeared in the Asia section of the print edition under the headline “Electric storm”
Asia October 1st 2022
From the October 1st 2022 edition
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