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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.

Chrysler and Hyundai join Pepsi and Coke as top Super Bowl spenders [w/ video]

Super Bowl XLVIII is barely a week away, and some of the early ads are already leaking out. It's timely then that The Street has released rankings of the top five Super Bowl advertisers since 2009, showing Chrysler and Hyundai/Kia taking two of the spots with $131.7 million in cumulative spending.
Since 2010, the cost to air a 30-second Super Bowl ad has risen from $3 million in 2009 to about $4 million in 2014, and about a fifth of advertisers opt for a one-minute ad, which doubles costs. Last year, the ads brought in $292 million, and they have brought in roughly $2 billion since 2010.
Chrysler has spent $64.3 million since 2009 to make it the fourth highest spending company in the last five years. In that time, the company has rebranded itself as it emerged from bankruptcy with the Imported from Detroit ad campaign that premiered in 2011 and last year's God Made a Farmer Ram Trucks ad. Its 2012 Halftime in America sparked national debate about whether it was also a reference to the upcoming presidential election.

2020 Kia Soul EV earns 243-mile EPA range rating

Kia is diving head first into the world of electric cars, and now we know how far its new Soul EV can go on a full charge: 243 miles, according to its EPA rating. This officially makes it the longest-range EV in Kia's lineup, because the Niro EV is rated for 239 miles. The Hyundai Kona bests them all with a 258-mile range, though. We got to see the Soul EV at the Los Angeles Auto Show last year for the first time, but could only guess at the range then. It was expected to see huge gains compared to the first electric Soul, which is rated at 111 miles in its last year of duty here in 2019. Range similar to the Niro and Kona is no surprise, as it borrows the powertrain out of those cars. A 64 kWh battery pack provides juice for an electric motor producing 201 horsepower and 291 pound-feet of torque. DC fast charging is standard and you can adjust the brake regeneration power via paddles behind the steering wheel. Anyone looking at an EV from Kia or Hyundai is going to have to make a choice when it comes to bodystyle, because they won't lose or gain much on the powertrain and efficiency side of things. A 243-mile range is more than sufficient to compete in the electric vehicle world right now, especially if you can get that range on the quirky but lovable Soul. The Bolt EV is sitting at 238 miles of range, and the new Nissan Leaf E+ can go 226 miles before fully depleting its battery. You'll be able to choose between the normal Soul EV or the Soul EV Designer Collection at launch. The Designer trim gets a two-tone paint scheme along with other additions like a leatherette interior, 10-speaker audio system and wireless charging. Pricing isn't available yet, but will be announced closer to the on-sale date. Kia says to expect it in the first half of this year. Related Video: