Hyundai‘s investments in EV manufacturing will be greatly influenced by the structure of US federal incentives for EVs.

Hyundai operates a non-unionized assembly plant in Montgomery, Alabama. Kia operates another in West Point, Georgia.

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“Everything is on the table with a situation like this, so we will see,” he told Automotive News at the auto show here.

Muñoz said Hyundai, which aims to sell 1 million EVs a year globally by 2030, is fully committed to the technology.

“We would like to achieve the 40 to 50 percent [EV] Biden administration objective by 2030, so we are fully in to achieve that,” he said. “But again, we will have to wait and see.”

A smaller subsidy for domestic manufacturers could possibly be overcome, he said, but a $4,500 difference is “huge,” he said.

“It’s making us think before we take a decision – we need to wait and see what is going to happen.”

Hyundai has publicly opposed a proposal to provide $4,500 more in tax credits for electric vehicles made by unionized workers in the US.