"Hyundai Matches US Tax Credits with $7,500 Cash Bonus for EV Buyers"

Hyundai is offering up to $7,500 in cash bonuses to US electric vehicle buyers to compete with automakers qualifying for tax credits under President Biden's Inflation Reduction Act. The discounts apply to the Ioniq 5, Ioniq 6, and Kona Electric, and will last through Jan. 31. Hyundai's EVs couldn't meet the requirements under the clean vehicle tax credit program, but the company is building an EV plant in Georgia to start assembly by the end of 2024. The move comes as the Biden administration aims to boost American industry and reduce reliance on Chinese suppliers for EV parts.