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Kia and CarMax pull LA Clipper sponsorships in wake of alleged Sterling comments

There's fallout across the automotive advertising world today as companies react to alarming, racially insensitive statements alleged to have been made Donald Sterling, owner of the NBA's Los Angeles Clippers franchise. Last Friday, entertainment website TMZ published excerpts from an audio recording, allegedly between Sterling and his girlfriend V. Stiviano, in which the Clippers owner said, among other things, that he didn't want her to bring black people to his games, including LA Lakers legend Magic Johnson. Sterling has yet to respond publicly to the allegations.
The story quickly gained steam over the weekend, and this Monday it has seen Kia Motors, auto sales website CarMax and insurance giant State Farm all pull sponsorship activities with the Clippers.
In a statement Kia said the alleged statements by Sterling were, "offensive and reprehensible," calling them "inconsistent with our views and values." Kia says it is "suspending" its advertising and sponsorship activities with the team, though has yet to clarify if that suspension includes commercials featuring NBA star and Clippers power forward Blake Griffin.

Kia recalls over 50k new Soul compacts over steering issue

Kia is recalling certain 2014 models of its adorable Soul due to a bad adhesive used in the steering system. According to the bulletin from the National Highway Traffic Safety Administration, the "thread-locking adhesive" that attaches the plug between the pinion gear and steering gear assembly could come loose.
Should that happen, the condition could lead to a "loss of steering," which, of course increases the likelihood of a crash. The 51,641 affected cars were built between July 21, 2013 and January 17, 2014. There have been no reported accidents, let alone injuries or deaths due to this issue.
Kia is in the process of notifying owners of the affected vehicles as well as dealers in possession of the faulty Souls.

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.