Hyundai : Accent Gls Sedan on 2040-cars

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How the Koreans are cracking the luxury market

South Korea's two largest automotive brands are no longer the same companies they were when they first entered the world stage.
Anyone who visits Seoul after a few years absence is likely going to be in for a shock. What was, not that long ago, a decidedly third-world city is today a thriving, sprawling metropolis increasingly on a par with the world's most modern cities.

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.

2019 Hyundai Santa Fe unveiled

Hyundai has unveiled its next-generation, 2019 Santa Fe. First, to clarify, the Santa Fe nameplate will take the place of the current five-passenger Santa Fe Sport. This new generation features a new design, new technology, and a new diesel engine option. The Hyundai Santa Fe has a new look that comes off less crossover and more SUV than before. It looks wider, more muscular and bigger than the vehicle it replaces, with Hyundai's large cascading grille and available 19-inch wheels. Inside, it has a horizontal layout to provide a sense of width. Large window openings provide improved visibility, despite the rising beltline. It features a new instrument panel with a three-dimensional look, and the infotainment screen has been repositioned to reduce glare. A new head-up display will also be available. The 2019 Santa Fe will offer a 2.4-liter four-cylinder engine good for 185 horsepower, or a turbo 2.0-liter four-cylinder offering 232 hp. A 2.2-liter diesel engine will be available providing about 200 hp and 320 pound-feet of torque. The diesel model will be the only one to offer optional third-row seating. Each will be connected to a new eight-speed automatic transmission. For comfort's sake, Hyundai has revised the suspension, particularly in the rear, to provide a smoother ride. Hyundai also offers an optional load-leveling suspension to maintain a consistent ride height, even when loaded with cargo or towing. Its all-wheel-drive system provides capability in crummy weather, and features different modes to distribute torque for improved performance. To improve safety and convenience, Hyundai includes a number of driver assistance aids in the new Santa Fe. This includes lane-keep assist, stop-and-go adaptive cruise control and an around-view monitor. Additionally, it offers a Rear Seat Occupant Alert using an ultrasonic sensor to detect motion of kids or pets in the back. It also offers Safe Exit Assist, which prevents you from opening the door when a motorcycle, bicycle or other vehicle approaches from behind. We'll have more on the next-generation Hyundai Santa Fe soon, once we get a turn behind the wheel. Related Video: Featured Gallery 2019 Hyundai Santa Fe View 32 Photos News Source: Hyundai Hyundai Crossover SUV