Hyundai Motor's 5 Electric Vehicles Included in U.S. IRA Grant

Five of Hyundai's electric vehicles, along with electric carmaker Tesla's Cybertruck, have been included in the U.S. government's subsidy list this year.

The U.S. Department of Energy and the Environmental Protection Agency have announced 18 models that will be subject to federal consumer tax credits under the Inflation Reduction Act (IRA).

Hyundai's Ioniq 5, Ioniq 9, Kia EV6, EV9, and Genesis GV70 electric models have been listed on this year's IRA benefits list, along with Tesla's Cybertruck, Model 3, Model X and Model Y.

Consumers who purchase these vehicles will receive subsidies of up to $7,500 in tax credits and about 11 million won in our money, depending on income and vehicle price restrictions.

However, the number of vehicles eligible for subsidies this year is down four from last year, and Bloomberg reported that it is in line with the slowdown in demand for electric vehicles and the upcoming inauguration of Trump, who has vowed to scrap the subsidy program.