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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.

Hyundai, Los Angeles Times and Consumer Reports in fuel economy skirmish?

On Wednesday, Consumer Reports issued a story taking umbrage with the auto industry's move toward smaller, turbocharged engines, noting its own testing revealed that many such powerplants fail to deliver their promised fuel economy numbers. The story covered a variety of domestic and foreign automakers, with Ford and Chevrolet featuring prominently in the discussion. Hyundai was also mentioned for its Sonata Turbo, but the Korean automaker's family sedan came within one observed mile per gallon of its EPA ratings in CR's test, and its normally aspirated 2.4-liter counterpart actually beat its combined EPA ratings, 27 mpg to 26.
Good news for Hyundai, right? The automaker was so pleased with its report card that it sent out a small statement to a handful of news outlets including Autoblog, reading in part:
"We at Hyundai believe that Consumer Reports real-world average fuel economy testing results and EPA combined fuel economy results should correlate, and in fact do correlate nicely for some brands. Among all brands, Hyundai does particularly well in this correlation, with no high-volume brand having a better correlation between EPA combined and Consumer Reports real-world fuel economy."

2018 Hyundai Accent packs compact car style in a subcompact

Hyundai's smallest American offering, the Accent, has undergone a thoroughly substantial redesign. The result is a subcompact sedan that's slightly wider and slightly longer, and looks very much like its larger Elantra sibling. The Elantra's hexagonal, slatted grille, headlight shape, and greenhouse have all been scaled down to the Accent's smaller body. Even the taillights echo the pattern of those on the Elantra. Fortunately, the proportions weren't thrown off in the shrinking process, so the Accent is a reasonably handsome, if slightly conservative, sedan. The new Accent also sports a rather spiffy interior, at least with the red and black upholstery shown. That particular color combo wouldn't look out of place in an Elantra Sport. The dash itself isn't particularly remarkable, but it looks attractive enough and fairly straightforward. It also features a 7.0-inch touchscreen with which the occupants can use Apple CarPlay or Android Auto. The seats can also be had with heaters. Hyundai touts automatic emergency braking as an available safety option. Mechanically, the big news comes in the form of chassis rigidity improvements. Hyundai says the new Accent is 32 percent stiffer, thanks in part to more high-strength steel. Under the hood is an updated 1.6-liter direct injection four-cylinder that makes 132 horsepower and 119 lb-ft of torque. This is a bit surprising, as the output is slightly less than that of the outgoing model. On the flip side, Hyundai claims this engine is 7 percent more fuel efficient, and that low-rpm torque has been improved. Plus, 132 horsepower is on par with competitors, and buyers who want to make the most of it have the option of a six-speed manual. A six-speed automatic is available, too. Pricing hasn't been announced for the new Hyundai Accent, but the sedan will show up at dealers during the third quarter of this year. The hatchback version, which has yet to be shown, will arrive in the fourth quarter of 2017. Related Video: