2014 Hyundai Elantra on 2040-cars

Auto blog

S. Korea to raise concerns about EV credits, battery sourcing in U.S. visit

SEOUL — South Korean officials will meet U.S. counterparts this week to express "concerns" about the Inflation Reduction Act, which restricts who can receive U.S. subsidies for the production of electric vehicles and where firms can source battery materials. President Joe Biden signed into law this month a $430 billion bill, seen as the biggest climate package in U.S. history. The law requires that EVs be assembled in North America to qualify for tax credits, ending subsidies for several EV models, and that a percentage of critical minerals used in batteries come from the United States or an American free-trade partner. Automakers like Hyundai Motor face short-term competitive disadvantage to manufacturers of EVs that receive tax credits in the United States, while industry sources said Korean battery makers must make changes to mineral sourcing routes, which could affect cost adversely. South Korean officials are expected to tell counterparts from the U.S. Trade Representative's office and the U.S. Treasury that the new law may violate trade norms such as the U.S.-South Korea free trade agreement and the WTO agreement, the industry ministry said. Korean automakers will consider adjusting production plans to prioritize the construction of U.S. plants for example, the ministry said, while battery makers will seek to diversify where they source minerals from. Under new rules to kick in next year, at least 40% of the monetary value of the critical minerals in batteries will need to come from the United States or an American free-trade partner, with that proportion rising to 80% by 2027. Globally, the treatment of some 58% of lithium, 64% of cobalt and 70% of graphite goes through China, according to ministry data. FALLOUT The new rules are a major complication for battery makers LG Energy Solution (LGES), SK On and Samsung SDI, battery industry sources said. South Korea's LGES supplies Tesla and General Motors, while SK On and Samsung SDI supply Ford Motor and Volkswagen among others. The three battery makers together command more than a quarter of the global EV battery market, according to SNE Research. "It's become a huge headache ... Automaker clients said they didn't expect this new law would take effect this soon," said a South Korean battery industry source.

Hyundai Palisade SUV supersizes it at L.A. Auto Show

Hyundai is adding to the SUV fracas at the L.A. Auto Show with the debut of its new 2020 Palisade SUV today. We got a sneak peek a couple of weeks ago here in Detroit, but now we can give you our full impressions as it's revealed in California. Let's start with size, because the Palisade is larger than any SUV currently offered in Hyundai's lineup, including the Santa Fe XL. It's considered a midsize SUV and will compete with vehicles like the Ford Explorer, Honda Pilot, Subaru Ascent and others. Hyundai is aiming to attract buyers who might have passed on the Santa Fe XL due to its smaller size compared to other mid-sizers. The Palisade can be had in a true eight-seat configuration, however, a captain's seat second-row option can make it a seven-seater. To move all the extra heft around, Hyundai has dropped an updated 3.8-liter V6 engine into it, which now runs on the Atkinson cycle. It's a curious choice for a big vehicle meant for utility and towing, but the engine makes 291 horsepower and 262 pound-feet of torque. No upgraded engine options are available, and it will be mated to Hyundai's eight-speed automatic transmission. Front-wheel drive will be standard, but all-wheel drive is optional. The Palisade uses Hyundai's HTRAC all-wheel drive system with a few different selectable modes, which changes the torque distribution depending on the conditions (up to 50/50 front to rear). It rides on a modified and enlarged Santa Fe platform that we're told will have some similarities with the upcoming Kia Telluride. Looking at the large and proud new Hyundai, it has a few bits here and there to make it stand out from the crowded midsize SUV horde. Hyundai is definitely latching on to the headlights-in-bumper styling, which ends up making the daytime running lights a bit squintier. It doesn't look bad per se, but it's definitely different. It hardly even bears mentioning, but the large grille on the Palisade makes for but another big car with a big face. Around back is where Hyundai went a little off the beaten path. The metal surround taillight design is worthy of a double take. All around, the Palisade just feels a good bit larger than the Santa Fe, but carries its own look. The interior is where things really start to come together for the Palisade. It's safe to say that Hyundai just keeps getting better and better at putting together a high-quality and luxurious-looking place to live in. We love the sweeping center stack look and array of metal buttons.

2015 Hyundai Genesis Sedan can be yours for under $40K [w/video]

While we've already tested Hyundai's all-new, second-generation Genesis Sedan in its home market, the Korean brand unveiled the American-spec luxury car to the sleep-deprived journalists of Detroit.
The big sedan isn't wildly different from its KDM counterpart, boasting the same pair of engines that have done so well in the first-generation car. The 5.0-liter V8 still produces 429 horsepower and 376 pound-feet of torque, while the 3.8-liter V6 returns 333 hp and 291 lb-ft of torque. Unlike the current cars, the standard eight-speed automatic can send power to all four wheels, if so optioned. Rear drive remains standard.
The big piece of news surrounding the new Genesis is that Hyundai is aiming to keep the luxury sedan's starting price below $40,000. We knew official pricing hadn't been released, but according to a report from Automotive News, the company is confident the entry level models should remain quite reasonably priced.