Hyundai is looking to open its upcoming Georgia factory earlier than expected following changes to the U.S. federal electric vehicle tax credit, which disqualified all of its South Korean-made EVs, according to a new report.

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The Inflation Reduction Act, which President Joe Biden signed into law Tuesday, is chock full of mining industry benefits — including a large tax break to any mining company that can produce amounts of minerals central to energy transition products like electric vehicles.

Many in the industry are in full celebration mode.

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CNN — 

President Joe Biden signed a sweeping $750 billion health care, tax and climate bill into law at the White House on Tuesday – marking a major victory for his administration and the Democratic Party ahead of the midterm elections.

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CNN — 

The Senate on Sunday afternoon passed Democrats’ $750 billion health care, tax and climate bill, in a significant victory for President Joe Biden and his party.

The final, party-line vote was 51-50, with Vice President Kamala Harris breaking the tie. The package is the product of painstaking negotiations, and its final passage would give Democrats a chance to achieve major policy objectives ahead of the upcoming midterm elections.

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