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U.S. VP Harris pledges to consult S. Korea over EV subsidy concerns

TOKYO/SEOUL — U.S. Vice President Kamala Harris told South Korea's prime minister on Tuesday that Washington will work to address Seoul's concerns over recently enacted electric vehicle (EV) subsidies that could disadvantage Asian automakers. The $430 billion "Inflation Reduction Act" bill enacted in August includes a host of U.S. President Joe Biden's priorities, including investments to roll back climate change and make Washington a world leader in the EV market. Among the law's provisions are requirements that EVs be assembled in North America to qualify for tax credits. The law also ends subsidies for other EV models and requires that a percentage of critical minerals used in those cars' batteries come from the United States or an American free-trade partner. Harris, visiting Japan, met with South Korea's Han Duck-soo and "underscored that she understood (Korean) concerns regarding the Act's tax incentives for electric vehicles, and they pledged to continue to consult as the law is implemented," the White House said. A senior Biden administration official said extensive conversations have already taken place within the U.S. government over how to address South Korea's concerns. "She listened very carefully and made clear our commitment to work within the U.S. government — the U.S. Trade Representative, the Treasury Department — as we look ... to help address that issue," the official said. Biden has sought to deepen business with South Korea as part of a bid to increase U.S. manufacturing jobs and build a united front against China, who he views as the country's key ideological and economic competitor. Korean officials see the new requirements as a betrayal after South Korean companies agreed to make major investments and build factories in the United States. Heavily industrialized South Korea worries the new subsidies will set back Hyundai Motor Co and its affiliate Kia Corp in the world's largest consumer market. Cars are South Korea's third-largest export. (Reporting by Trevor Hunnicutt in Tokyo, and Soo-hyang Choi and Joyce Lee in Seoul; Editing by Clarence Fernandez and Kim Coghill) Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Government/Legal Green Plants/Manufacturing Genesis Hyundai Kia Electric South Korea

2016 Hyundai Tucson starts at $23,595, rated up to 33 mpg

The latest generation of the Hyundai Tucson had its all-new hexagonal face revealed at the 2015 Geneva Motor show earlier this year. But we're finally getting a much better idea of what the North America version of the crossover offers. The 2016 model arrives at Hyundai dealers in July with a base price of $23,595, after the $895 charge for all trims. That's a jump from the current post-destination MSRP of $22,525, but customers get more modern styling and a new powertrain option with the update. In addition to its handsome new styling, the 2016 Tucson grows slightly in length and width for greater cargo space inside. The base SE trim carries over the previous 2.0-liter four-cylinder, six-speed automatic, and front-wheel drive combo with 164 horsepower and 151 pound-feet of torque. Fuel economy jumps slightly to 23 miles per gallon city, 31 mpg highway, and 26 mpg combined – up from the 2015's 23/29/25. However, the real gains start showing up with the Eco, Sport and Limited trims. Those models share a 1.6-liter turbocharged four-cylinder and seven-speed dual-clutch gearbox to replace the previous 2.4-liter four and six-speed auto. The boosted engine is rated at 175 horsepower and 195 pound-feet of torque, which is 7 less ponies but 18 lb-ft more torque than the outgoing mill. In the Eco trim starting at $25,045, the powertrain is rated at 26/33/29 with front-wheel drive. Sport goes for $27,045 and Limited for $30,795, but the turbo engine is rated at 25/30/27 in those latter two guises. All-wheel drive adds $1,400 to any version and knocks one or two mpg from the combined fuel economy figures. Beyond the powertrain improvement, Tucsons are available with an alphabet soup of safety systems to let drivers feel more secure. Inside, a five-inch touchscreen infotainment display is standard and comes with a rearview camera. An optional eight-inch system with navigation is also optional. ALL-NEW 2016 HYUNDAI TUCSON STARTS AT $22,700 Well-Equipped Tucson Features Sporty Styling, Outstanding Efficiency and Leading Safety Technologies FOUNTAIN VALLEY, Calif., July 14, 2015 – Hyundai's all-new 2016 Tucson compact crossover offers an unmatched combination of a modern design, enhanced driving dynamics, increased utility and the latest in safety and entertainment technologies, all with a starting price of $22,700.

New Genesis G80 costs $2,650 more than its predecessor

If you're in the market for a Hyundai Genesis, you'd best act fast. The Korean company's new luxury sub-brand, Genesis, just announced pricing for the rebadged G80, kicking the starting figure up across the board while adding a suite of desirable safety and tech features. The base model, with a 3.8-liter V6 and rear-wheel drive, starts at $41,400. All-wheel drive adds $2,500 to that figure, while both V6 models add $2,650 to the price of a Hyundai-badged Genesis sedan. Hyundai justifies the increase with a slew of now-standard equipment from the current car's discontinued Tech Package, including automatic emergency braking, blind-spot monitoring with cross-traffic alert, lane keeping assist, lane departure warning, high-beam assist, and adaptive cruise control. Considering the Tech Package tallied $3,500, this is a net win. You can improve your six-cylinder G80 with a pair of packages. A $4,750 Premium Package adds fog lights, a panoramic sunroof, a 14-speaker Lexicon stereo, a seven-inch color instrument display, vented front seats, and a power sunscreen for the rear window. Genesis essentially carried over the current $3,500 Ultimate Package, which now costs $4,200. It includes matte wood, full-color HUD, 9.2-inch touchscreen infotainment, a 17-speaker Lexicon stereo, and a power trunk lid, along with an upgraded power driver's seat, which used to be part of the Tech Pack. If you're hankering for the V8 model – no longer listed on the Hyundai USA consumer page – you're looking at a $650 bump, from $53,850 to $54,550. There are no option packs for the V8, so all you need to do is pick a color and drive away. Not surprisingly, the G80 undercuts its rivals by a few dollars. BMW will happily sell you a base 5 Series for $51,195. Mercedes offers an E-Class, the E300, at $53,075. Audi and Lexus are slightly more down to earth – an Audi A6 is $47,125 while a base GS is $46,595. So, going with the V6 G80 against its all-four-cylinder-turbo competition will save you, on average, around $8,100. That makes the $8,950 in option packs look awfully attractive. The difference between the G80 V8 and its rivals is smaller, but still significantly stacked in Genesis' favor, mainly because only BMW still offers a V8 in this segment – it's $67,295 ($12,745 more than a base G80 V8). Pricing on the US market 2017 E-Class is only available for the 2.0-liter, turbocharged E300, while neither Lexus nor Audi sell a V8 outside their respective high-performance brands.