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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

Genesis' decision to build the Electrified GV70 in America is a sign of things to come

As Steely Dan famously sang, they call Alabama the Crimson Tide. Here in Montgomery, we’re knee-deep in a Green Tide thatÂ’s transforming the business of building and selling cars. The high-style Genesis Electrified GV70 emerging from Hyundai Motor Manufacturing Alabama (HMMA) is the first Genesis built outside South Korea. ItÂ’s only the second made-in-America EV from a foreign-based automaker, after the Volkswagen ID.4 whose Tennessee production kicked off in July.  Get ready for many more. Spurred by the Inflation Reduction Act — whose final interpretations and outcomes remain in Washingtonian flux — automakers foreign and domestic are scrambling to onshore EV-and-battery production to boost American jobs and security, as a condition to securing lucrative tax incentives for manufacturers and consumers. Beginning in 2024, qualifying for EV credits may even require sourcing a hefty percentage of minerals and other battery materials from America or approved trade partners, a list that conspicuously does not include China or Russia. As things stand, that sticking point could make a vast number of 2024 EVs ineligible for purchase credits; though leasing a vehicle may still earn dealers a $7,500 commercial credit that they could pass along to consumers, as most currently do for EV lessees.  The electric version of GenesisÂ’ most-popular SUV is the avatar of Hyundai MotorÂ’s $10 billion American EV investment, which is expected to foster up to 8,000 good-paying jobs. Even thatÂ’s a fraction of what Atlas Public Policy estimates to be $128 billion in industry-wide investment in AmericaÂ’s EV, battery and recycling capacity through 2030 alone. HyundaiÂ’s planned onshore footprint includes a new battery factory northwest of Atlanta, and a $5.5 billion EV factory near Savannah that aims to produce Hyundai, Kia and Genesis EVs beginning in 2025. Beginning that year, Genesis says every new model introduced will be an EV, with no fossil-fuel option. And Genesis plans to phase out gasoline-powered models entirely by 2030, a similar timeline to luxury brands including Volvo and Cadillac. In Alabama, where Hyundai also builds the Elantra, Sonata, Santa Fe and Santa Cruz, an Electrified GV70 is hoisted onto a lift for the final stop on its 16-hour assembly journey.

Kia, Hyundai working on wireless charging with Mojo Mobility

Last month, Kia started expanding US sales of its Soul EV electric vehicle outside California and into Texas, Georgia, Oregon, and Washington. Now, the South Korea-based automaker is making it a little easier for residents of those states to charge up those cars. Much of the early focus, naturally, is on the always-green-minded Pacific Northwest. Kia Motors America is working with a company called Greenlots to build Level 2 and fast-charging stations at Kia dealerships. Specifically, about 30 fast-charging stations will be deployed at 21 dealerships throughout those four states. Those stations can get a Kia Soul EV 80-percent charged in about a half hour. The EVs can go about 93 miles on a full charge. Including Level 2 stations, about 40 stations will be added in the Pacific Northwest alone. The idea is to make sure folks in both the Seattle and Portland areas feel secure about their ability to charge their cars throughout the region. Additionally, Kia and its sister automaker Hyundai are working with another company called Mojo Mobility to develop a wireless plug-in vehicle charging system, Hybrid Cars reports. The companies received funding from the US Department of Energy's Vehicle Technologies Program, and have so far found that those wireless stations can charge at about 92-percent efficiency. No timeline has been disclosed as far as when those stations will start being available to the public, but folks in the Pacific Northwest are sure to welcome them, perhaps in time for the Soul EV 2.0. Related Video: Show full PR text KIA MOTORS AMERICA RAMPS UP SOUL EV INFRASTRUCTURE IN WASHINGTON AND OREGON Soul EV coming to a total of 20 dealers in the Pacific Northwest; 12 in Washington1 and eight in Oregon2 Kia increases fast-charger network in the region with 10 new chargers IRVINE, Calif., July 8, 2015 – Kia Motors America (KMA) is continuing its progressive launch of the Soul EV and adding to the electric vehicle ecosystem in the Pacific Northwest with 20 Soul EV-certified dealers and a robust charging network. Of the 20 dealers in the region, 12 will be located in Washington and eight in Oregon. In addition to each being equipped with two Level-2 chargers (40 total in the PNW region), 10 of the dealers will also be up-fitted with DC fast chargers, increasing Kia's overall network of fast-charging stations. As an added value, select Kia dealers will allow Soul EV owners to charge their electrified urban runabout at no cost3.