Is that hypersilver finish painted or powdercoated out of the factory?

 

It is dipped and baked from the manufacturer

 

Powdercoated.

 

Powdercoating it too expensive for an OEM to do on mass-produced cars. Remember this is assembly line manufacturing, they are going to go with the quickest, cheapest, method.

AFAIK, The wheels are painted, baked, and then clearcoated from the factory.