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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: Ryanville

Ryanville is a commercial about a town full of Ryan Reynolds clones, and two smitten women driving around in a brand new Elantra who can't help but gawk at the actor because he's everywhere. This is a great ad if you like Ryan Reynolds, as these two women (and many other people) do. Hyundai also wants to remind you that if you're distracted by Ryan Reynolds, the Elantra's active Automatic Emergency Braking with Pedestrian Detection will help prevent you from running his handsome clone over. Vote for this one if you like the commercial, Ryan Reynolds, or both. Marketing/Advertising Hyundai Super Bowl Commercials 2016 super bowl ad

Hyundai reveals new i20 hatchback ahead of Paris debut

If you had ever traveled overseas and rented a Hyundai Getz, you'll likely have gotten why it was the butt of jokes: it Getz you from A to B, but not much more. But like the company that makes it, the Korean supermini is all grown up now, long since eschewing the punchline nameplate for the i20 moniker. And here is its latest successor.
Set to be unveiled at the Paris Motor Show this fall, the new i20 is Hyundai's rival to the likes of the Ford Fiesta, Volkswagen Polo, Toyota Yaris and such. Designed in Europe for the European market, the new i20 stretches its wheelbase nearly two inches longer than its predecessor (and four and a half inches longer than the knees-in-your-chest Getz) to offer best-in-class legroom and cargo capacity.
Hyundai also says the new i20 is the first in its segment to offer an opening panoramic sunroof. While we wouldn't exactly call the styling "exciting" (especially in that shade of brown), penned at the company's European design center in Rüsselsheim, Germany, it certainly does look more mature... which, we take it, is kinda the point.