Seoul, Aug 22 (TIWN) Hyundai Motor is considering speeding up the construction of its dedicated electric vehicle (EV) plant in the US amid a new law excluding EVs built outside North America from tax breaks, industry sources said on Monday.

Hyundai is considering starting construction of its US$5.54 billion EV and car battery plant in Georgia later this year, under a goal of commencing production in the second half of 2024, a source with direct knowledge of the matter told Yonhap News Agency.

The South Korean carmaker was originally planning to start construction on the 300,000-unit-a-year US EV facility in January 2023 and begin production in the first half of 2025.