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2020 Kia Niro electric car gets a $590 price hike

Kia Niro EV shoppers will need to budget a little more for the purchase, the South Korean automaker raising the price on its only U.S.-market electric car by $590. Cars Direct spied an order guide saying that after a $1,120 destination charge, the base Niro EX electric will climb from $39,620 to $40,210. The only other trim, the EX Premium, goes for $45,120 for the 2019 model to $45,710. The prices don't include the potential $7,500 federal tax credit or other incentives the hatchback still qualifies for. Adjustments to the EV MSRPs compare to price increases of $990 and $1,190 for the two trims of the 2020 Niro PHEV, and a mix of price drops and increases of several hundred dollars for the standard Niro's rearranged trim line.     Around this time last year, the Niro EV cost $1,500 more than the Hyundai Kona EV, now the Kia and Hyundai are separated by $1,900. The Niro EV's 64-kWh battery can power its 201-horsepower motor up to 239 miles of EPA-rated range, the Kona EV, with the same mechanical specs, is EPA-rated for up to 258 miles. Kia didn't make any changes to the 2020 Niro EV other than price. The whole Niro lineup, however, debuted its new refresh at last year's L.A. Auto Show. That brought tweaks to the front fascia such as new headlights and fog lights and a grille with diamond-shaped inserts, the electric Niro distinguished from the other two powertrains by getting a single chevron fog light instead of dual chevron lights, omitting the chrome underlining on the grille, and picking up blue accents around the lower intake. In back, there's a redesigned housing for reflector units in the bumper, and more blue highlights. Inside, a redesigned, seven-inch digital instrument cluster sits behind the steering wheel, and new optional driving aids include lane following and lane-keeping assist. Meanwhile, the wait continues for the Kia EV we really want, the fun and less expensive battery-electric Soul and its 243-mile EPA-rated range.  Related Video:      

Hyundai will invest $35 billion in autonomy and emerging technologies

SEOUL — Hyundai Motor Group said it plans to invest $35 billion (41 trillion won) in mobility and other auto technologies by 2025, part of which will be directed to an ambitious effort to become more competitive in self-driving cars that has also received government backing. The plan, which Hyundai said encompasses autonomous, connected and electric cars as well as technology for ride-sharing, comes after the automaker and two of its affiliates announced an investment of $1.6 billion in a venture with U.S. self-driving tech firm Aptiv. South Korea's government is also onboard, unveiling more funding for autonomous vehicle technology with President Moon Jae-in declaring on Tuesday that he expected self-driving cars to account for half of new cars on the country's roads by 2030. "The self-driving market is a golden market to revitalize the economy and create new jobs," Moon said in a speech at Hyundai Motor's research center near Seoul. The government intends to spend 1.7 trillion won between 2021 and 2027 on self-driving technology. It expects Hyundai to launch level 4, or fully autonomous, cars for fleet customers in 2024 and for the general public by 2027, an industry ministry official told Reuters. But some experts question whether targets set by the government and the automotive group, which also includes Kia Motors, are realistic given the technological and cost challenges and the lack of home-grown technology. In a 45-page report on future automotive technology, the government acknowledged South Korea lags in some key areas necessary for self-driving cars such as artificial intelligence, sensors and logic chips. "Hyundai has to buy technology from someone else because it lacks software technology. Even though it has a lot of cash, this could become a financial burden if its earnings deteriorate," Esther Yim, an analyst at Samsung Securities, said. Other analysts noted that the prospects for self-driving cars are quite murky. General Motors' self-driving unit, Cruise, said in July it was delaying the commercial deployment of cars past its target of 2019 as tech firms and automakers acknowledge it will take more time and money than they had expected to make autonomous vehicles safe for unrestricted use on public roads. South Korea's government said it would prepare a regulatory and legal framework for autonomous cars and the safety questions they pose by 2024.

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.