Welcome back to EV News Daily coming up today. Strong October EV sales data is coming in. Oslo goes all EV for taxis and battery cell prices reach historic lows. Plus stay tuned because later in the show. I'll tell you why Tesla's cyber truck conundrum could be a win for consumers. Well, good morning, good afternoon or good evening, wherever you are in the world. Welcome to EV News Daily, a trusted source of EV information for Tuesday, 5th of November. I'm Martin Lee, and I go through every

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All right, we'll kick off. As the US heads to the polls today, South Korean battery companies

are bracing for potential changes in the industry, especially if the Republican Party looks to

rip out the financing, which, ironically, has an outsized benefit on the red states.

Key players like LG, Samsung and SK have significantly benefited from the advanced manufacturing

production credit, the AMPC, established under the Biden administration's inflation reduction

act.

A representative from a Korean battery firm mentioned that Trump has indicated plans to abolish the IRA,

but making such changes would be highly complicated.

Alterations to the IRA would require action from the Department of the Treasury,

which would encounter legal hurdles primarily from within the Republican Party itself.

Additionally, some Republican

senators support the IRA, recognizing its importance for domestic manufacturing, especially as

Korean companies are establishing or planning new facilities in states, which are led by Republicans.

Another industry insider warned that if Trump returns to office, the benefits that from the IRA may diminish, which could slow the growth of EVV adoption in the United States.

But even if Trump gained control of both legislative chambers, many Republicans have already signalled their opposition to any kind of dismantling of the IRA, making such an effort highly improbable.

As long as the IRA subsidies are in place, the US market for EVs and batteries is still expected

...