South Korean companies are reconsidering their plans to invest $54 billion in electric vehicle (EV) battery plants in the United States due to concerns about potential changes to tax credits under President-elect Donald Trump.

Some companies have halted or slowed down construction on various projects because they are worried about reduced demand for EVs and uncertainty surrounding Trump's policies in a possible second term.

Posco Future M, a manufacturer of cathodes for General Motors, has announced a delay in completing its plant in Quebec, citing "local conditions" as a contributing factor.

The hesitation from these companies reflects broader concerns about the future of the EV market in the U.S. and the implications of the incoming administration's stance on electric vehicles.