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Biden says U.S. is willing to continue talks with South Korea on EV subsidy

SEOUL — President Joe Biden has expressed willingness to continue talks with South Korea over recent U.S. legislation that denies subsidies to most foreign makers of electric vehicles (EVs), an official from Yoon's office said on Wednesday. Biden gave the assurance in a letter to South Korean President Yoon Suk-yeol, who had asked the U.S. president last month for help to allay Seoul's concerns that the new U.S. rules would hurt South Korea's automakers. "We assess that President Biden reaffirmed his understanding of our concerns through a personally signed letter .... it shows Biden's willingness to be considerate towards South Korean companies in the future," the official said. The Inflation Reduction Act, signed by Biden in August, requires EVs assembled in North America to qualify for tax credits in the United States, but excluded Hyundai Motor Co and its affiliate Kia Corp from EV subsidies, as they do not yet make the vehicles there. As a result, only about 20 EVs qualify for subsidies under the new rules. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Government/Legal Green Genesis Hyundai Kia EV tax credit

EV battery prices to stop falling in 2020, Hyundai says

SEOUL — Hyundai believes electric vehicle battery prices will level off by 2020 due to supply constraints of key ingredients, ending years of sharp declines that have helped stimulate activity in the booming sector. Despite its cautious outlook, the South Korean carmaker and smaller affiliate Kia plan to release 38 green models using a variety of technologies by 2025, Hyundai Motor Senior Vice-President Lee Ki-sang said. "Not a single ingredient is going in a positive direction in terms of pricing," Lee, who oversees Hyundai's green car operations, said in remarks to reporters last week that were embargoed until Wednesday. "So far battery prices have been declining at a rapid pace, but the pace will moderate significantly or maintain the status quo by 2020." While rivals have announced ambitious plans for electric vehicles, some analysts say Hyundai has been late to the game. It plans to launch a long-range electric vehicle next year, well behind the likes of General Motors and Tesla. Demand for minerals such as nickel, cobalt and lithium used in electric car batteries is forecast to soar in the coming years as governments crack down on vehicle pollution and carmakers step up their investments in electric models. Batteries are the most expensive part of electric vehicles, and their affordability is key to the take-up of the technology. Lithium-ion battery cell prices fell about 60 percent in the five years to 2016 as larger-scale production made them cheaper to make. In September, Reuters reported that Volkswagen was moving to secure long-term supplies of cobalt for the group's electric vehicle plans, but its talks with cobalt producers in November ended without a supply deal. Lee said that although Hyundai saw the need to develop batteries in-house, it still relied on outside suppliers due to a lack of economies of scale to secure raw materials. It aimed to release vehicles powered by solid-state lithium batteries by about 2020, promising greater range and safety than existing lithium-ion units. Japanese rival Toyota also has announced a similar schedule for the development of vehicles powered by new, potentially revolutionary solid-state batteries. In addition to hybrids and battery-powered vehicles, Hyundai was "coordinating" with Fiat Chrysler Automobiles over hydrogen cars propelled by electricity generated from fuel cells, Lee added.

2018 Kia Stinger GT AWD Review: A 1,400-mile grand tour in Kia's grand tourer

They call the 2018 Kia Stinger a GT. It's powerful and sleek with a low-slung seating position, quick steering and, even with all-wheel drive, a tail-happy nature. It looks killer in red. And with its V6-powered engine, the letters GT are even festooned upon its liftgate. Well, that's nice, but how does it actually deliver on the grand-tourer formula of rapid, comfortable and stylish transportation? Well, to find out, I put the Stinger GT to a grand-touring test. Starting in the western Rockies and the remote ski town of Crested Butte, Colo., my destination would be home in Portland, Ore. The Google-suggested way is 18 hours on mostly Interstates 70, 15 and 84. However, interstates are boring and are better suited to a perfectly capable but utterly soulless family transportation appliance. A proper grand tour should include two-lane highways and scenic detours, so that's exactly what I'd do. It would add hours and miles, but also, most hopefully, a vastly more memorable experience. Well, as my photos will attest, the scenery didn't disappoint. And, as you'll see in the videos, neither did the Stinger. Episode 1: Setting Off Episode 2: It's a hatchback! Crested Butte, Colo., to Moab, Utah Crested Butte is way off the beaten path, a charming mountain village deep in the western Colorado Rockies mostly free from the usual uber-commercial, Disney-like feel of ritzier, easier-accessed ski towns. Its main street thoroughfare, authentically Western rather than engineered to be so, is surrounded by scattered subdivisions and majestic mountains beyond. It had been buried in 9 feet of snow just a few weeks prior. The local citizenry didn't seem particularly bothered by that. Though most of that 9 feet had melted, the ground was still very much white, requiring the Stinger GT to shed its usual summer rubber in favor of Michelin Pilot Alpin PA4 winter tires. These are specifically intended for performance car applications like the Stinger, sacrificing just a smidge of icy traction in favor of superior handling and steering feel when on dry pavement. There's no need to delay the verdict here: after 1,400 miles, the Stinger felt just as generally compelling and dynamic on the Alpins as when I drove it last November in Southern California on summer tires. The other half of the Stinger's snow defense is the GT's optional all-wheel-drive system, which adds $2,000 to its price tag (as-tested $52,300).