South Korea's Hyundai Motor Group has signed an agreement to source electric vehicle (EV) batteries in North America from battery maker SK On, the companies said on Tuesday. The partnership follows the signing in August of the U.S. Inflation Reduction Act, which will require automakers to source a certain percentage of critical minerals for their EV batteries from the United States or a U.S. free-trade partner to qualify for new U.S. EV tax credits.