2014 Hyundai Santa Fe Limited on 2040-cars

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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 announces pricing for Ioniq Electric subscription service

When we first drove the Hyundai Ioniq Electric, we learned about a unique subscription program that would be available for Hyundai Ioniq Electric buyers in California. Instead of a traditional purchase or lease, it would be a no-haggle program with unlimited mileage and service and wear items covered. At the time, though, Hyundai didn't have pricing set for the program. Now it does. It also has a name. It's called Ioniq Unlimited+. The way it works is that after a consumer has their credit approved, they put down an initial $2,500 payment, and then pay a set monthly fee for the 36-month term. Pricing varies depending on the trim level of Ioniq Electric. The base model has a monthly fee of $275, the Limited goes for $305, and the Limited with the "Ultimate" package costs $365 per month. All of those prices are before tax. The advantages to this program over a typical lease are in all the included goodies. The initial tax, title, license and fees are covered with the down payment, drivers have no mileage caps, and charging, service, and wear items are all covered for 50,000 miles. If you're interested, hopefully you live in California, since that's the only state in which the program is offered. But, if the program is successful, there may be a chance it expands to other models and regions. Related Video:

2017 Hyundai Ioniq triplets electrify New York

If you're an American and want an affordably priced hybrid, plug-in, or full EV from a mainstream brand, get ready to meet the Hyundai Ioniq. The long-awaited rival to the Chevrolet Volt, Ford Focus Electric, Nissan Leaf, and Toyota Prius family heads to the 2016 New York Auto Show. We already know quite a lot about all three flavors of the Ioniq from its international debut in Geneva. You can check out that report here. But there are some changes for the US market car, and the biggest is the US Ioniq's electric range. Our original report indicated that the Ioniq Electric would cover 155 miles per charge, although we weren't sure which range rating standard that was based on. According to Hyundai, the US model won't be quite so impressive, scoring an estimated range of 110 miles. That fits the prediction of Autoblog boss Mike Austin, who suggested the Ioniq Electric would roughly match the 107-mile maximum of the Leaf. The other change focuses on the range of the Ioniq Plug-in. That figure has fallen from 31 miles of all-electric range to 25. Both of these revised ratings aren't necessarily down to changes in the cars themselves – the Electric still uses a 28-kilowatt-hour battery and the Plug-in has an 8.9-kWh unit, just like their European counterparts – but are simply differences in how range is measured. Check back soon for live images of Hyundai's new ultra-efficient triplets. Related Video: 2017 HYUNDAI IONIQ MODEL LINEUP MAKES U.S. DEBUT AT NEW YORK INTERNATIONAL AUTO SHOW World's first dedicated vehicle platform with three electrified low-and zero-emission powertrain choices Ioniq offers latest connectivity and active safety features for a comprehensive eco-lifestyle transportation solution NEW YORK, Mar. 23, 2016 – Hyundai Motor America today unveiled the Ioniq Hybrid, Plug-in Hybrid, and Electric models for the U.S. market at the New York International Auto Show. The Ioniq eco-focused vehicle is the first in the world to offer three distinct electrified powertrains on a single, dedicated vehicle platform. Hyundai's approach for the Ioniq line delivers an uncompromising design and driving experience coupled with the latest in safety and convenience technologies, making it an appealing choice for a wide range of buyers. The Hyundai Ioniq is an important milestone in Hyundai's global sustainability strategy. "Ioniq will attract an entirely new group of eco- and efficiency-oriented buyers in the U.S.