Hyundai Motor Group Chairman Chung Eui-sun is heading to the U.S. amid mounting anxieties in the auto sector due to a new U.S. law excluding electric vehicles(EV) built outside North America from tax breaks.

According to auto industry sources on Wednesday, Chung departed for the U.S. aboard a charter flight from Gimpo International Airport on Tuesday night.

Industry insiders believe that Chung will hold discussions with U.S. officials on the Inflation Reduction Act and the process for breaking ground within the year on an EV plant in the state of Georgia.

Hyundai Motor, which exports EVs such as the Ioniq 5 and Kia’s EV6, has benefited from a 75-hundred-dollar tax deduction per unit in the U.S. market. However, that will longer apply as the Inflation Reduction Act calls for expanding tax subsidies for EV purchases, but only for EVs assembled in North America and those that have batteries made with materials from the continent.

As a result, Hyundai Motor, which ranks second in market share in the U.S. in terms of EVs, is expected to lose its competitive edge against U.S. automakers, including Tesla and General Motors.