South Korean EV battery stocks plunge as Trump's plan to kill EV tax credit weighs
** Shares of South Korean electric vehicle battery-related stocks fall following a Reuters news report that President-elect Donald Trump's transition team is planning to kill the $7,500 consumer tax credit for EV purchases as part of broader tax-reform legislation
** Shares of South Korean battery maker LG Energy Solution (LGES) 373220.KS fall as much as 10% and those of battery material maker EcoPro BM 247540.KQ drop as much as 10.9% in morning trade
** Reuters reported on Thursday that Trump's transition team is planning to remove the $7,500 consumer tax credit for EV under the Inflation Reduction Act, citing two sources with direct knowledge of the matter
** Shares of Tesla TSLA.O ended nearly 6% lower at $311.18, while shares of smaller EV rivals Rivian RIVN.O closed down 14% at $10.31; Lucid LCID.O, another EV maker, tumbled 5% to $2.08
** South Korean battery makers, which have multiple EV battery factories operating in the U.S., are now bracing for a potential roll back of President Joe Biden's signature clean energy policy and looser emissions regulations
** The broader market KOSPI .KS11 was trading down 0.4% as of 0024 GMT
Reporting by Heekyong Yang
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