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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.

Nuclear deal could make Iran next big car market

Iran is a huge and hugely appealing target for Western firms - it's population is nearly the size of Germany's, it is well educated and includes a substantial middle class, and there is a built-in industrial capability. Because of the sanctions that have been in place for nearly five years now over its nuclear program, however, its citizens and domestic industry haven't been able to purchase and expand, so investment opportunities are not only manifold, they are severely undervalued. Most of the auto industry has been sitting on the sidelines waiting for the Iranian game to start. A report in Automotive News says that Iran's two automakers, Iran Khodro and SAIPA - Societe Anonyme Iranienne de Production Automobile - produced one million light vehicles last year for 77.5 million people. According to Wikipedia there were 200 vehicles per 1,000 citizens in 2012, and that was before the industry took a nosedive. That number puts it between Uruguay and Jamaica. Chery, Kia, Peugeot, and Renault were the carmakers with major operations in-country before all but Chery pulled out. In the vacuum, Chery and other Chinese automakers have thrown lots of product at the market, getting 27 models in a range of segments built or supplied there, with results that are probably best described as ambivalent among observers but financially lucrative for the Chinese. Peugeot has re-established ties, and Kia, Mercedes-Benz, Peugeot, Renault, Toyota, and Volkswagen were attendees at the Iran Auto Show last November. The domestic companies say that this time they want local investment that includes technology transfer, so the Western carmakers that do decide to get in will find tougher negotiators than before. Peugeot, for instance, had a 51-49 partnership with Iran Khodro before pulling out; the new agreement is a 50-50 venture. As a 'gift' to the world for a final deal that encourages global investment, Bloomberg says that the price of crude would go down by $15 per barrel. News Source: Automotive News - sub. req.Image Credit: Atta Kenare/AFP/Getty Images Earnings/Financials Government/Legal Kia Peugeot Renault iran sanctions khodro

Next-generation Kia Soul spied with old box shape, new split headlights

The current Kia Soul has been around since the 2014 model year, and Kia has kept the little box fresh with the introductions of electric and turbocharged variants, the latter of which appeared for the 2017 model year. But based on these spy shots, Kia is preparing a more thorough redesign of the hatchback/quasi-crossover. Though Kia has covered the front and rear of the new Soul carefully, the middle section gives it away as the favored transportation of anthropomorphic hamsters. Also, while there are indications there will be significant design changes, the basic formula won't change. It will still have a really thick D-pillar, darkened A-pillar and a roof that gets thinner toward the front. The roof itself also looks a bit taller, although perhaps its just the rear windows that have gotten smaller. It appears the front fascia and windshield will also retain a similar amount of rake to the current models to prevent it from looking overly boxy. The front end, as camouflaged as it is, also reveals a major lighting change. Instead of the very large headlamps of the last two generations, the forward lighting will be split in two, and the primary illumination looks to be coming from the lower elements. This design follows in the footsteps of Hyundai's Kona and upcoming Santa Fe, as well as the Nissan Juke and previous Jeep Cherokee. The upper elements also look as though they sit lower in the fascia than on past models, perhaps to give the new Soul a more aggressive look. The back is also thoroughly covered up, but we can tell that the high-mounted taillights in the D-pillars will continue. It also looks like they wrap around the bottom of the rear glass this time. This is the first time we've seen the new Soul, and Kia hasn't said much about its plans for the car. We expect that it will continue to offer at least one naturally aspirated engine, if not two as it does currently, and a peppier turbo model. We would also suspect that all-wheel drive will be on the table to better compete with sub-compact SUVs like the Jeep Renegade and Honda HR-V, which have virtually the same body style as the tall, boxy Soul. Many already consider them rivals and Kia has even hinted at the possibility with its Trail'ster concept. We'll be keeping an ear to the ground, and an eye on the rear ends of Souls, to learn more in the future. Related Video: Featured Gallery Kia Soul spy shots View 11 Photos Image Credit: Brian Williams Spy Photos Kia Crossover Hatchback Economy Cars