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U.S. VP Harris pledges to consult S. Korea over EV subsidy concerns

TOKYO/SEOUL — U.S. Vice President Kamala Harris told South Korea's prime minister on Tuesday that Washington will work to address Seoul's concerns over recently enacted electric vehicle (EV) subsidies that could disadvantage Asian automakers. The $430 billion "Inflation Reduction Act" bill enacted in August includes a host of U.S. President Joe Biden's priorities, including investments to roll back climate change and make Washington a world leader in the EV market. Among the law's provisions are requirements that EVs be assembled in North America to qualify for tax credits. The law also ends subsidies for other EV models and requires that a percentage of critical minerals used in those cars' batteries come from the United States or an American free-trade partner. Harris, visiting Japan, met with South Korea's Han Duck-soo and "underscored that she understood (Korean) concerns regarding the Act's tax incentives for electric vehicles, and they pledged to continue to consult as the law is implemented," the White House said. A senior Biden administration official said extensive conversations have already taken place within the U.S. government over how to address South Korea's concerns. "She listened very carefully and made clear our commitment to work within the U.S. government — the U.S. Trade Representative, the Treasury Department — as we look ... to help address that issue," the official said. Biden has sought to deepen business with South Korea as part of a bid to increase U.S. manufacturing jobs and build a united front against China, who he views as the country's key ideological and economic competitor. Korean officials see the new requirements as a betrayal after South Korean companies agreed to make major investments and build factories in the United States. Heavily industrialized South Korea worries the new subsidies will set back Hyundai Motor Co and its affiliate Kia Corp in the world's largest consumer market. Cars are South Korea's third-largest export. (Reporting by Trevor Hunnicutt in Tokyo, and Soo-hyang Choi and Joyce Lee in Seoul; Editing by Clarence Fernandez and Kim Coghill) Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Government/Legal Green Plants/Manufacturing Genesis Hyundai Kia Electric South Korea

Kia HabaNiro concept is an AWD electric wonder car for everyone

Kia filled its press release for the HabaNiro concept with so much bombast hoisted aloft by adjectives and acronyms that we don't know what to make of the actual concept. Conceived and designed at the Kia Design Center America (KDCA) in California, the HabaNiro's labeled "a whole new category of mobility – 'The Everything Car' or ECEV." The "fully-electric, all-wheel drive, four-seat wonder car" goes more than 300 miles between charges, has butterfly wing doors and Level 5 autonomy. On the other hand, considering this is a concept, the boasts and technology could be considered humble. The idea is that the compact four-door crossover is ready and intended to go anywhere, from urban errands to winding roads to "off-roading with confidence to remote wilderness adventures." The concept is 1.5 inches shorter than the production Kia Niro, six inches wider, three inches taller, on a wheelbase that's 5.2 inches longer. The butch exterior belies the close dimensional relationship, the HabaNiro clad in Snowdrift Pearl White paint set off by Satin Metallic Granite Grey cladding in front and an anodized Lava Red aero panel in back. The 20-inch wheels wear 265/50 tires, rubber just a fraction shorter than the BFG All-Terrains on the Mercedes-Benz Concept GLB. A satin aluminum skidplate, billet aluminum tow hooks, anodized Lava Red aluminum accents, and LED DRLs that pulse like a heartbeat ensure no one underestimates the conceptual attitude. The undisclosed battery powers two electric motors, one on each axle for e-AWD. Opening the butterfly doors uncovers a Lava Red interior. Unlike the electric Kia concept in Geneva reveling in its bouquet of screens, the HabaNiro cabin omits rectangular screens, knobs, and buttons. A full-width heads-up display on the windshield provides all the necessary info, projected from an instrument panel that doubles as a touchpad with "Sensory Light Feedback." That, along with the ability to project movies on the screen, sounds great during Level 5 operation. But when a human needs to drive... well, we need to see it in action. You can also sign us up for demos of the "Perimeter Ventilation System," which "quietly and evenly blows curtain of air throughout the cabin" and sounds like what you get on a Greyhound. And the patterned floor is lit with changeable mood lighting that "reflects onto surfaces within the cabin," which sounds like what you get in the club.

Hyundai sticks to EV rollout plans, sees solid growth this year

SEOUL — Hyundai Motor said on Thursday it would not delay plans to roll out new electric vehicles and was upbeat about prospects for continued growth this year — a contrast to recent steps by rivals to cut back on EV output. Electric vehicle sales are growing strongly but not as much as carmakers had forecast, with demand hit by high interest rates. "We do not plan to dramatically reduce EV production or our line-up due to likely near-term hurdles as we believe EV sales will grow longer term," Seo Gang Hyun, an executive vice president at the South Korean automaker, told an earnings briefing for analysts. The Hyundai Motor Group, which encompasses the Hyundai, Kia and Genesis brands, said in April it plans to launch 31 EVs by 2030. This includes the launch of the Ioniq 7 SUV next year. Seo said Hyundai's EV sales next year could be slightly lower than previously expected, but the automaker had the production flexibility to boost output of gasoline engine cars if demand shifted that way and he did not expect a significant impact on overall sales. When asked about the impact on Hyundai Motor of the United Auto Workers (UAW) union reaching a tentative labour deal with Ford, Seo said the company expects the deal will have an impact on wage increases at its U.S. factories, but such costs could be covered as the automaker has been putting effort into reducing costs, such as in logistics. Hyundai Motor, which is not a member of the UAW, operates an assembly plant in Alabama and is building a factory to produce EVs in Georgia. For the third quarter, Hyundai booked a net profit of 3.2 trillion won ($2.4 billion), more than double its year-earlier result and beating an LSEG SmartEstimate of 2.9 trillion won, with the automaker helped by a favourable exchange rate. Sales also increased, climbing 8.7% to 41 trillion won on solid demand for high-margin gasoline SUVs. Sales of EVs and hybrids also grew, up by a third to 169,000 units. This month has seen a flurry of downbeat EV announcements. Citing flattening demand for EVs, GM said it would delay production by a year of Chevrolet Silverado and GMC Sierra electric pickup trucks at a plant in Michigan. Ford is temporarily cutting one of three shifts at the plant that builds its electric F-150 Lightning pickup truck. Tesla is also slowing plans for a Mexico factory, while GM and Honda announced on Wednesday that they were ending a $5 billion plan to develop lower-cost EVs together.