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Hyundai plans to catch up with other automakers, offer EVs

YONGIN, South Korea (Reuters) - South Korea's Hyundai Motor Co is developing its first dedicated architecture for electric vehicles, seeking to catch up with the likes of Tesla in the growing segment with multiple, long-range models. While the platform will not be completed soon, Hyundai Motor and affiliate Kia plan to roll out small electric sport utility vehicles (SUVs) based on an existing underpinning next year, said Lee Ki-sang, who leads Hyundai-Kia's green cars operations. Hyundai will launch an electric SUV, followed by a sibling model by Kia Motors next year, Lee said, citing strong demand for SUVs. The subcompact or compact models would have a range of more than 300 km (186 miles) per charge, and would be "more competitive" than rival offerings, Lee said. And Hyundai said in a statement on Thursday that it plans to launch a new luxury electric vehicle under its Genesis marque in 2021, after introducing a plug-in hybrid version of an unidentified Genesis model in 2019. The separate platform represents a major push into the battery electric-car segment for a firm which has long trumpeted rival fuel-cell vehicles, reflecting strong investor pressure to compete more vigorously in a market that has been stimulated by U.S.-based Tesla's longer-range models. And tough fuel-economy and emissions regulations in the United States, Europe and China are compelling automakers to push fuel-efficient cars even though low oil prices have undercut demand. Hyundai's electric-car platform would allow the automaker to install a battery pack in vehicle floors to accommodate more battery capacity and maximize cabin space, Lee said. "The electric-vehicle platform will require high up-front investments, but we are doing this to prepare for the future," he said at Hyundai-Kia's green car research center in the city of Yongin, outside Seoul. He did not reveal the cost. Lee, a senior vice-president at Hyundai Motor, was speaking during an interview on the eve of an auto show that kicked off in Seoul on Thursday. Analysts said Hyundai had no choice but to build separate electric-vehicle platforms to be relevant in the segment. "The separate platform may incur losses initially, but Hyundai will be left behind the market if they don't offer long-distance models, like 300 km, 500 km and 600 km," said Ko Tae-bong, an analyst at Hi Investment & Securities.

Trump encouraged by talk of 'a level playing field' on trade with South Korea

South Korea is a longstanding American ally, but President Donald Trump has spoken harshly about U.S. trade imbalances and threatened to tear up the bilateral trade pact. "We will do more to remove barriers to reciprocal trade and market access," Trump said, adding that the two leaders had talked about the thorny trade areas of steel and autos. Trump said he was encouraged by South Korea's President Moon Jae-in's assurances that he would seek a level playing field for American workers and businesses, particularly automakers. A joint statement said the two sides had agreed to work together to reduce over supply of basic materials such as steel and non-tariff barriers. It also said Trump had accepted an invitation from Moon to visit South Korea this year. Bonnie Glaser, senior adviser for Asia at the Center for Strategic and International Studies think tank, said it was unwise for Trump to air the trade issue so publicly. "Public complaints by Trump about unfair trade and inadequate defense spending provide opportunities for China and North Korea to drive a wedge between the allies," she said. The U.S. goods trade deficit with South Korea has more than doubled since the U.S.-Korea free trade pact known as KORUS took effect in 2012. The agreement was forecast to boost U.S. exports by $10 billion a year, but in 2016 they were $3 billion lower than in 2011. At the start of Friday's talks, U.S. Commerce Secretary Wilbur Ross said the largest component of the deficit was automotive trade and many non-tariff barriers to U.S. auto exports to South Korea remained. "I think the way to address it is to deal product by product with what we can do to change the export side and what we can do to reduce the bad imports side," he said. Ross said later on Friday that some progress had been made in the talks. The current pact was agreed to despite protests by supporters of Moon, who was then in opposition. But analysts have suggested that given the need to preserve a unified front in the face of a hostile North Korea, there could be compromise on both sides to resolve issues. (By David Brunnstrom and Lisa Lambert. Additional reporting by Fatima Bhojani, Roberta Rampton, Tim Ahmann, David Chance, David Lawder and Eric Beech; Editing by Bill Trott and Andrew Hay) Related Video: Image Credit: Kim Hong-Ji / Reuters Government/Legal Genesis Hyundai Kia trade

2019 Kia Forte First Drive Review | Slow, but steady

PITTSBURGH, Pa. — Kia is in the midst of an sea change. The Stinger's release has shifted the brand's focus away from simply being rebadged Hyundais, giving the Korean automaker a new identity. The Soul and Niro have been solid and unique products, but one or two cars aren't enough to move the needle, especially in the eyes of the public. Our long-term 2018 Kia Stinger GT is a fantastic car, but it still gets plenty of "that's a Kia?" comments out in public. If Kia wants to reinvent itself in this new image, every product is going to have to look and feel as if it was cut from the same cloth. For 2019, the Kia Forte is entering its third generation, having debuted a decade ago as replacement for the Spectra. Like the previous two models, the new Forte shares more than a little with its corporate sibling, the Hyundai Elantra. Kia claims the Forte is more than just an Elantra with handsome new sheetmetal, with some minor updates and changes underneath the skin. There are some allusions to the Stinger in the Forte's design — thin, sweptback headlights, a wide lower air intake up front and full-width taillights in the rear. Both cars are also sprinkled with a number of black accents. It's clean and more distinctive than the recently refreshed but still conservative Elantra. The Forte's interior is less Stinger and more Optima — not quite as bold as the exterior might suggest, but purposeful. There are the practical details that make a difference: small spaces for your phone, sunglasses and more. The Honda Civic offers more, but the Forte is near the top of its class. Like the Elantra, the Forte's seats are comfortable and well positioned, though I do wish there were a little more thigh bolstering. Base models come with cloth, though heated and ventilated leather seats are standard on the top-tier EX trim. The EX also comes with two USB ports and an optional wireless charger. Fit and finish are impressive, too. There was nary a rattle or panel gap to be found. Kia's focus on improved noise and vibration was immediately evident, too. Both wind and road noise were both mild, with just a little bit of sound coming from the car's A-pillars. The chassis has been stiffened significantly compared to the Elantra, and it definitely comes across on the road. The overall impression inside is that it looks and feels as well-built as anything coming from Japan and better than some of the Americans. Unfortunately, things aren't quite as rosy when you get moving.