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Hyundai's new fuel-cell vehicle will get dramatic price cut, more range

They say you can't be too rich or too thin, but Hyundai may be shooting for both with its plans for the successor to the hydrogen-powered Tucson Fuel Cell. The South Korean automaker says it's working on a fuel-cell vehicle that will not only be cheaper than the Tucson, but will have a larger full-tank range, the Korea Herald says. Hyundai disclosed details at a conference last week where the South Korean government said it wanted 10,000 fuel-cell vehicles on its roads by the end of the decade. This car, if it arrives as advertised, should help. Hyundai needs it. Since the hydrogen Tucson was unveiled in 2013, it has moved just 544 units worldwide. The new hydrogen vehicle will be priced at about $54,000 in Korea, about half the price of the Tucson Fuel Cell compact SUV. Factor in subsidies that the government is planning, and that price tag would drop to about $30,000. Hyundai is also planning for a full-tank range of about 373 miles, a 45-percent increase from the Tucson's 258. Hyundai has steadily been dropping hints about its next fuel cell car. The automaker debuted its Intrado fuel-cell concept (pictured) at 2014's Geneva Motor Show and said at the time that the car would have a full-tank range of about 375 miles. And last month, Hyundai Motor Group's Ahn Byung-ki spoke of a fuel-cell vehicle that's larger than a compact SUV that would also have a bigger battery but a smaller motor than the Tucson. Additionally, the automaker said it may launch the new model in time for the 2018 Winter Olympics in Seoul. Related Video: Featured Gallery Hyundai Intrado Concept: Geneva 2014 View 16 Photos News Source: Korea Herald via Green Car Congress Green Hyundai Hydrogen Cars

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.

Honda, Hyundai and Kia get best word-of-mouth recommendations in US

Forget advertising, incentives and, yes, even our excellently crafted vehicle reviews, sometimes the best way for automakers to sell cars is still good ol' fashioned word of mouth. In an attempt to measure this "word of mouth" power, The Boston Consulting Group, a management consulting firm, has created a new study called the Brand Advocacy Index (BAI). The index takes a look at how various industries perform from person to person. Those industries include automotive, smartphones, grocery, mobile telecommunications and banking.
The study polled more than 32,000 individuals across Europe and in the US to come up with the top 55 brands in these various industries. On the automotive side of things, the top brands in the US were Honda, Hyundai and Kia, all tied at 63 percent. On a global scale, Volkswagen and Toyota scored the highest with a 65-percent BAI rating (both in France). The average BAI for auto industry players tallied 50 percent.
As for companies in other industries, Apple's iPhone was the index's top-rated smartphone, Trader Joe's was the highest recommended grocery store, Virgin was sat atop the mobile telecom industry and USAA was the top retail bank. Scroll down for the full press release on the new study.