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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.

Kia U.K. builds a 420-horsepower Stinger GT track car

The Kia Stinger GT is an admirable sports sedan, er, hatchback, with 365 horsepower. But Kia's U.K. branch wanted more, leading to the 420-horsepower Singer GT420 you see here. As Kia explains, the car used to create this one-off track car is actually the first Stinger GT pre-production test car in the U.K. It was used for final testing, photography, and was even featured on Top Gear and The Grand Tour. Once its testing and publicity duties were over, though, it was slated to be crushed. But some delaying and the idea of building a track car saved it. To get it to its final output ratings of 420 horsepower and 413 pound-feet of torque, Kia (with help from Hyundai Motor Group's technical team in Germany) added a high-flow air filter, aftermarket exhaust without catalytic converters, an upgraded transmission cooler, and an engine tune. The car also benefits from weight reduction: The whole car was gutted, taking out everything unnecessary for speed such as the sound system, rear seats, carpeting, bumper supports and more. Even with the addition of a roll cage and extra chassis braces, the car is just over 330 pounds lighter than stock. Handling and stopping capabilities were also enhanced with stiffer springs and thicker anti-roll bars, along with six-piston brake calipers and brake cooling ducts up front. The car also gets visual changes in the form of a front splitter and rear spoiler and diffuser, plus the bold vinyl wrap. Naturally, this isn't a production car, especially with the gutted interior and emissions non-compliant exhaust. But looking at the list of modifications, it wouldn't be hard to replicate the Stinger GT420 on your own. In fact, someone could probably exceed the car's performance, since there are some areas ripe for upgrading Kia skipped over, such as upgrading the turbochargers. Your move, tuners.

2024 CES Mega Photo Gallery: Honda concepts, a VinFast truck and flying cars galore

The 2024 rendition of CES is coming to a close, and per usual, it was full of all the funky, futuristic tech the show is long known for. It’s also full of cars and legitimately forward-thinking tech related to cars, and we were on the ground to see it all and bring photos to you in this Mega Gallery.  A boatload of manufacturers attended and made big reveals, from the Star Wars-like Honda concept cars to a pickup truck from VinFast, the sort of debuts we got to see ran the gamut. Of course, there were plenty of reveals and vehicles on the floor that were even more outlandish than concepts from traditional OEMs like Honda and Mercedes. Check out this flying Xpeng car as an example. Or perhaps the flying Mansory car. Apparently, flying cars were a theme. Anyway, make sure you scroll down to check out the various reveals and photos of the cars and technologies revealed at the 2024 CES in our barrage of galleries. Honda 0 Series Honda 0 Series saloon 1 View 26 Photos VinFast Wild pickup VinFast Wild 10 View 10 Photos VinFast VF3 VinFast VF3 1 View 4 Photos VW GTI Prototype with AI-enhanced infotainment CES 2024: New Volkswagen GTI with AI-Enhanced Infotainment View 17 Photos Kia PBV Concept Kia PBV Concept platform View 28 Photos Sony Honda Mobility Afeela concept Afeela by Sony Honda Mobility View 5 Photos Hyundai Mobion Concept Hyundai Mobion Concept CES 2024 View 6 Photos Mullen Five RS Mullen 2 View 14 Photos Mansory Empower concept Mansory Empower concept View 14 Photos Hyundai Supernal S-A2 eVTOL Hyundai Supernal S-A2 View 13 Photos XPeng Aeroht eVTOL Flying Car XPeng Aeroht eVTOL?Flying Car View 6 Photos Verge TS Ultra verge-ts-ultra-ces-2024-electric-motorcycle-01 View 17 Photos Horwin Senmenti Maxi Scooter Range Horwin Senmenti 0 View 12 Photos BMW Teleoperated Valet BMW iX controlled with Remote Valet View 15 Photos Mercedes-Benz MB.OS infotainment Mercedes-Benz MB.OS infotainment system View 9 Photos Lamborghini Telemetry X Lamborghini Telemetry X View 5 Photos Related video: Green Motorsports CES BMW Ford Honda Hyundai Kia Lamborghini Mercedes-Benz Volkswagen Volvo Green Automakers Green Culture Technology Infotainment Smartphone Autonomous Vehicles Commercial Vehicles Concept Cars Polestar Infrastructure