Manchin’s EV Tax Rules Spur Alarm as Hyundai Lobbies for a Break

Hyundai Motor Co. and the South Korean government are ratcheting up lobbying to loosen restrictions that Senator Joe Manchin fought to include in this year’s US climate law, arguing the rules could blunt the automaker’s rapid growth in the market.

At issue is a requirement to limit a $7,500 consumer tax credit to electric vehicles built in North America, since Hyundai won’t have an EV plant there until 2025.

Democrats included the provision in the landmark climate bill to win support from Manchin, a West Virginia senator who wanted to ensure the tax credit would lead to domestic investment.

Depending ...