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Kia expects US to be Soul EV's top market

While its sister brand Hyundai invests in hydrogen fuel cell technology, Kia is entering the battery-powered electric vehicle market with the new Soul EV. The Korean automaker plans to sell some 5,000 units of its first electric vehicle around the world. While it's not saying exactly what proportion it hopes to sell in (or how many it's allocating to) any individual market, the latest reports indicate that it expects the United States to be its biggest market.
Part of that may come down to the growing popularity of electric vehicles in America, but also to the substantial incentives offered by federal and local government agencies towards buying an EV. Though the Soul EV retails for a reported 42.5 million won in South Korea - equivalent to less than $41,500 at today's rates, of which the battery alone accounts for about 40 percent - incentives will mean that the actual cost to a buyer in the US will be about half that, although Kia hasn't announced official pricing yet.
The latest electric vehicle on the market is based on the existing Kia Soul hatchback, a vehicle chosen due to its packaging vis-à-vis more conventionally shaped vehicles. The 27 kWh lithium ion battery pack adds about 330 pounds to the vehicle's curb weight, resulting in a 0-62 time of 11.2 seconds and a 92-mile range. The Kia Soul EV will initially be sold only in California, Oregon, New York, New Jersey and Maryland.

Kia design chief Peter Schreyer named Hyundai-Kia President

Automotive News reports Peter Schreyer has been appointed the first non-Korean president of Hyundai-Kia Motor Group. Schreyer is expected to retain his role as the chief designer for Kia, while also taking on new, high-level executive duties. He is now one of three presidents at the automaker.
The designer made a name for himself at Volkswagen, where he penned the 1998 New Beetle and lent his eye to the Audi TT. In 2006, Schreyer moved to Kia, where he quickly revised the brand's styling from bland, forgettable lines to bold, "tiger nose" creations. Analysts attribute much of the brand's recent sales success to Schreyer's influence.
Kia is expected to move 2.75 million units worldwide next year, while sister company Hyundai will likely beat its 2012 sales forecast of 4.29 million units, according to CFO Lee Won Hee.

How automakers stand to benefit from Iran

The big global news of late is a deal that sees a number of major powers easing some sanctions on Iran in return for the Middle Eastern nation scaling back its nuclear program. This thawing of relations between Iran and the West could have far-reaching impacts in both the near and long term, particularly on the auto industry.
As Bloomberg points out, foreign manufacturers, especially Kia and Peugeot, stand to win big by this short-term easing of sanctions. But the impact of opening up the Iranian market to larger-scale sales cannot be underestimated - Peugeot, for example, sold 457,900 units to Iran in 2011 as spare parts kits alone. Opening the Iranian market could also have a huge impact on the cost of oil, as the country was one of the largest producers in the OPEC consortium before firmer sanctions took effect in 2012. Still, as David Cohen, US undersecretary for terrorism and financial intelligence said, it's "not open season now for business in Iran."
Bloomberg has an excellent report of all the near-term effects an easing of sanctions has across a number of industries. Hop over and give it a look.