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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.

2018 Kia Rio First Drive | Keep compact and carry on

When Kia announced that it would bring the fourth-generation Rio to the United States, we were rather surprised. The subcompact segment in which it competes isn't exactly hot here, and small cars have tight profit margins. It makes more sense to concentrate on tiny crossovers that are more popular and can sell for more cash. Ford seems to be taking this tack with the impending introduction of the EcoSport, and the delayed introduction of the new Fiesta in America. Even Kia itself has experienced success with sub-compact crossovers with the Soul. Kia seems determined to stick with the segment, though. A Kia representative told us that, even though the U.S. subcompact market may not be booming, it still accounts for about 500,000 cars a year. Plus, if any manufacturers leave the segment, that's an opportunity to pick up some conquest sales. He also said that regardless of the size of the market, Kia still sees a portion of the car-buying public that will always want a budget subcompact, and that it can be a good introduction to the brand. So with that in mind, is the Kia Rio a good introduction to the Korean car company? In general, yes, and we were introduced to it in and around Baltimore, Md., where we were able to try out a top-level Kia Rio EX on everything from cobblestone streets to winding country lanes. And at first glance, the Rio is a handsome little machine. While the previous generation was round and bubbly, the new model looks more aggressive, and has a shape more akin to larger vehicles. Thank the longer, more horizontal grille, slender, swept-back headlights, lower belt line, large lower grille and jutting lip. The hatchback is the more attractive version of the car, but the sedan is far from ugly, which is no small feat for a subcompact. Compared with the European version of the Rio, and even the previous-generation model, though, there are visual differences that reveal the fourth-generation U.S.-spec Rio has succumbed to cost-cutting measures. The first tipoff is the wheels. The alloys on the Rio EX, the only model with alloy wheels, are a minuscule 15 inches. Though admittedly adorable, and probably a boon to ride quality, they do look disappointing when compared to the available 17-inch units on the European model, or even those on the old Rio. The headlights and taillights are plain and simple, too. The headlights are reflector halogen lamps, and the taillights and turn signals use incandescent bulbs.

2020 Kia Soul EV First Drive Review | EZ to like

SEOUL, South Korea – The 2020 Kia Soul is the third iteration of the boxy little crossover and the second generation of the battery-powered variant, the Soul EV. While the 2020 Soul overall is mildly upgraded compared to the outgoing model, the Soul EV makes a major leap where it counts: with a new powertrain that more than doubles the stated range to an impressive 243 miles. The new 2020 Kia Soul EV scraps the previous 30-kWh battery for a new, more energy-dense 64-kWh unit, shared with the Hyundai Kona Electric. The battery pack feeds a motor that now makes 201 horsepower – also shared with the Kona Electric, and producing the same horsepower figure as the Soul Turbo. It spins out 291 pound-feet of torque, which is immediately available underfoot. That's enough to chirp the front tires, and it instantly squirts the Soul ahead in the urban cut-and-thrust. It's also plenty powerful enough for high-energy merging onto the freeway. Kia estimates a 0-to-60-mph time of 7.2 seconds. The battery is replenished via standard Combined Charging System (CCS) DC fast charging capability, with the port now behind a flap in the front grille insert. The CCS can handle up to a 100-volt feed at a public charger – should you find one, it can top up the battery (from 20 to 80 percent) in as little as 42 minutes. With a more common 240-volt source, a depleted battery can be replenished in five to six hours – rather than 63 (!) plugging into a standard 120-volt outlet. Owners definitely will want to install a charger at home, and Kia has partnered with Amazon to sell three Kia-recommended 240-volt chargers: A 40-amp Bosch from $764, a 40-amp JuiceBox from $549, and a 32-amp ChargePoint at $699, although others brands and models can be used. Buyers in northern climes will want to check out the Cold Weather Package, which supplements the standard heated seats with a heated steering wheel, upgrades the climate control to a more efficient heat pump, and also adds the capability to heat the battery (when the car is plugged in) for better range in cold conditions. How energetically the car responds to a prod of the accelerator depends on which of the four drive modes you're in: Sport, Normal, Eco, or Eco+. Sport unsurprisingly was our favorite in a half-day drive in and around Seoul. Some drivers might find it too snappy, and of course it also drains electrons the fastest. In Normal mode the car is still spry, while in Eco and Eco+ one really needs to leg the go-pedal.