“While the production of EV batteries takes place in the United States, there is no direct tariff impact. However, many materials and components are imported from outside the U.S., which is expected to increase cost burdens,“ Executive Vice President Kim Yoon-tae said in the company’s first-quarter earnings conference call.
Kim did not elaborate on whether the company would absorb the costs or pass it on to consumers.
The South Korean battery maker, whose customers include BMW, Rivian, General Motors and Stellantis among others, have production sites in the U.S., South Korea, Hungary and China.
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