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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 Stinger GT Long-Term Review Update | What living with the Stinger is like

You're going to like looking at it, and everyone else will too Man, this car is slick. It's long and low with curves in all the right places. Kia toed the line between in-your-face sportiness and luxury with every design decision on this car. I don't often feel the urge to look back at a car as I walk away, but the Stinger has a way of drawing my eye back to it wherever I go. The bright red paint might be partially responsible for this, but I've found I'm not alone. Everywhere I drive, this car turns heads and brings about inquisitive stares from onlookers — the Kia badge just causes brows to furrow deeper. Never in history have random passersby been this interested in a Kia. It makes sense, though. We don't often see completely new, from-the-ground-up sports sedans these days. The Stinger's fastback shape just makes it even more enticing and refreshingly different. Noticing the sidewalk interest in a car like the Stinger gives me a glimmer of hope for other great sedans to make it through the crossover-apocalypse. Big car, but a small back seat The usable space in the rear seat runs counter to how long and large the car looks. First off, the way the door is shaped makes for a narrow space to slide your body through. It's wide on top but narrows closer to the ground. That's no problem for a young and limber person such as myself, but less flexible folk may find it annoying. With the seat positioned for my 5-foot-10-inch frame, rear legroom is a bit scarcer than I would have thought. Throwing kids back there would be fine, but it still came off as one of the larger disappointments in my book. You'll enjoy the cargo space, though. Hatches are almost always more utilitarian than sedans with trunks, and this trend continues for the Stinger. Loading and unloading is an easy task, and you can shove a ton of stuff back there. Somewhat limited visibility through the short rear window from the driver seat is the only downside of the rear hatch design. It has a dual personality This car firmly plants itself onto the list of ideal daily drivers. Leave it in Comfort mode, turn the Harman Kardon stereo up, and relax on your way to the office. Twist the dial over to Sport, and you'll blow everybody else away getting on the highway as you head home. Like we said in our last long-term update, the Stinger is the perfect GT car, and we stand by that. You can use it as a backroad scalpel on weekends. However, I wouldn't go so far as to say it handles like a sports car.

Hyundai and Kia set aside $412 million for false mileage claims

We still don't know how the whole fuel economy ratings debacle is going to play out for Hyundai and Kia, but both automakers are preparing to make good on their promises to reimburse vehicle owners for lower-than-promised mileage figures. According to Automotive News, Hyundai and Kia have set aside a combined total of $412 million ($225 million for Hyundai and $187 million for Kia) as compensation, which will be sent out on a case-by-case basis via debit cards depending on the vehicle and the mileage driven.
Announced back in November, the exaggerated miles per gallon claims affect around 900,000 Kia and Hyundai products produced for the 2011 through 2013 model years sold in the US and Canada. This whole deal has had plenty of action ranging from suspected whistleblowing from a rival US automaker and even insider trading, but it has probably been most frustrating for vehicle owners who, in most cases, saw their vehicles' city and highway ratings drop between one and three digits.