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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.

2014 Kia Sorento

For most new car shoppers, three-row crossovers are little more than a way for the family-minded to avoid succumbing to the minivan stigma. Admit it - the only things that differentiate most larger CUVs from minivans are their lack of sliding side doors and - on most of them - the option of all-wheel drive. Having blossomed into a popular segment with thicker profit margins, though, automakers have plenty of incentive to keep their offerings fresh, and that's exactly why Kia is presenting its 2014 Sorento so soon.
At first glance, the crisply styled utility vehicle seen here appears to be nothing more than a mid-cycle refresh - and not a particularly extensive one, at that. But that's not the case at all. Despite looking very similar to the second-generation vehicle that came on the scene for the 2010 model year, this is an all-new Sorento. Or, more precisely, it's about 80-percent new. Kia says less than 20 percent of the parts have been carried over from the 2013 Sorento, and that's a pretty typical amount for an 'all-new' vehicle generation.
Since we've yet to spend quality time with the "Made in the USA" Sorento for more than a short First Drive in Arizona last February, we snagged the keys to a 2014 model in the all-new SX Limited trim level for a lengthy backroad sojourn from Florida to South Carolina.

Kia Telluride spy shots reveal crossover's grille

The Kia Telluride seems to be making steady progress on its way to production, as evidenced by these new spy photos. The large crossover SUV was spied testing with much less camouflage than the last time we saw it. So little that we get a pretty clear picture of the front fascia and what appears to be a production grille and front bumper, unadorned with fake bodywork. Notably, the Telluride still retains much of the square, blocky design shown on the 2016 concept, such as in its tall, sheer nose. But it has softened in a number of ways. The grille is much broader and curves back toward the headlights. It also has a bit of a sweep upward, which is exaggerated by the additional opening below the grille. The headlights have also increased in size compared with the concept, particularly vertically. They also wrap around the fender instead of being inset. Moving around to the sides and the rear, there's more camouflage, but we can spot some details taken directly from the concept. One of them is the chrome trim surrounding the windows that has a little extension up the B-Pillar. The rear taillights are also heavily inspired by the concept's inverted "L"-shaped lights. Unlike the concept, the production lights appear to span the full width of the rear hatch. As for when we'll see the production Telluride, we would estimate within a year. A report from January implied that we would be hearing an announcement in the near-future regarding the new family crossover, and this latest prototype is looking pretty close to production specification. Hyundai seems to be on its way to releasing its own version of the three-row SUV, possibly styled after the Grandmaster concept, for 2019 or 2020. Related Video: