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Biden says U.S. is willing to continue talks with South Korea on EV subsidy

SEOUL — President Joe Biden has expressed willingness to continue talks with South Korea over recent U.S. legislation that denies subsidies to most foreign makers of electric vehicles (EVs), an official from Yoon's office said on Wednesday. Biden gave the assurance in a letter to South Korean President Yoon Suk-yeol, who had asked the U.S. president last month for help to allay Seoul's concerns that the new U.S. rules would hurt South Korea's automakers. "We assess that President Biden reaffirmed his understanding of our concerns through a personally signed letter .... it shows Biden's willingness to be considerate towards South Korean companies in the future," the official said. The Inflation Reduction Act, signed by Biden in August, requires EVs assembled in North America to qualify for tax credits in the United States, but excluded Hyundai Motor Co and its affiliate Kia Corp from EV subsidies, as they do not yet make the vehicles there. As a result, only about 20 EVs qualify for subsidies under the new rules. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Government/Legal Green Genesis Hyundai Kia EV tax credit

2018 Kia Stinger GT Long-Term Review Introduction | A brand new day

Kia has come a long, long way since it entered the U.S. market back in the mid '90s. Initially, the Korean automaker was known for affordable economy cars with questionable reliability and a distinct lack of charisma. That's no longer the case. Kia turned its reputation around, building solid if slightly sedate cars and crossovers with handsome styling and one of the best warranties in the industry. Our new long-term 2018 Kia Stinger GT is the automaker's first real attempt to inject some life into the brand. The Stinger's development was helmed by some genuine all-stars. The design was led by Peter Schreyer — the man behind the original Audi TT — and Gregory Guillaume at Kia's European design studio. Engineering was handled by former BMW M Vice President of Engineering Albert Biermann. Biermann is now leading the way at Hyundai's N division. The end result is a front-engine, rear-drive sportback tasked with putting to rest Kia's budget-car image. The automaker has made no secret about targeting models like the Audi A7 and Porsche Panamera. What we got The Stinger comes in two flavors. The base model comes with a 2.0-liter twin-scroll turbo four-cylinder producing 255 horsepower and 260 pound feet of torque. We opted for the more powerful Stinger GT and its 3.3-liter twin-turbo V6. That engine — shared with models from Genesis — makes 365 horsepower and 376 pound-feet of torque. Both engines are mated to an eight-speed automatic. While rear-wheel drive is standard, we opted for all-wheel drive ($2,200) to better deal with Michigan winters. Our car comes in Hichroma Red with a red interior. Leather is standard on every Stinger model. A base GT starts at $39,250 and comes with LED lighting, 19-inch wheels with summer tires and Brembo brakes. Our GT1 package comes in at $46,350 and adds niceties like a sunroof, a Harman Kardon audio system and a heated steering wheel. Other features include dual-zone climate control and power-adjustable front seating. We added cargo mats and a cargo tray in the rear, bringing the total to $46,620. Why we got it Kia and Hyundai are working hard to move past their budget-car roots. In general, both companies are producing vehicles that no longer have to sell on value alone. For a while, Kia's lineup consisted mostly of vehicles that were closely related to a Hyundai counterpart, with sharper styling but few points of real differentiation.

Chrysler and Hyundai join Pepsi and Coke as top Super Bowl spenders [w/ video]

Super Bowl XLVIII is barely a week away, and some of the early ads are already leaking out. It's timely then that The Street has released rankings of the top five Super Bowl advertisers since 2009, showing Chrysler and Hyundai/Kia taking two of the spots with $131.7 million in cumulative spending.
Since 2010, the cost to air a 30-second Super Bowl ad has risen from $3 million in 2009 to about $4 million in 2014, and about a fifth of advertisers opt for a one-minute ad, which doubles costs. Last year, the ads brought in $292 million, and they have brought in roughly $2 billion since 2010.
Chrysler has spent $64.3 million since 2009 to make it the fourth highest spending company in the last five years. In that time, the company has rebranded itself as it emerged from bankruptcy with the Imported from Detroit ad campaign that premiered in 2011 and last year's God Made a Farmer Ram Trucks ad. Its 2012 Halftime in America sparked national debate about whether it was also a reference to the upcoming presidential election.