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South Korea Pledges $5 Billion In Support For Battery Makers In The U.S.

South Korea has announced a $5.32 billion financial support package aimed at helping the country's battery makers invest in infrastructure in North America over the next five years. The initiative is intended to help South Korean firms capitalize on the United States' Inflation Reduction Act, which requires automakers to source 50% of critical EV battery resources from the U.S. or a U.S. free-trade partner to qualify for new federal incentives. South Korea's package will provide support through lowering lending rates, and…

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