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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.

This is the Genesis I've been waiting for

In November Hyundai finally confirmed everyone's years long suspicion and announced the creation of its own global luxury brand, naming it the obvious choice, Genesis. The press release revealed a few important details, the biggest probably being that six models will be under the new brand by 2020. We can already account for at least two of these models as newly branded Equus and Genesis sedan models (possibly the coupe as a third) but we are left wondering for the rest. There is a strong argument for the Azera, as it was recently cut from Hyundai's line-up and the obvious choice of bringing in some ever important crossover models, especially while remembering the Veracruz experiment. The newly minted luxury name adds another player to an ever crowded high-end market, but a growing one, where there is room for deviation from the pack. Can Hyundai fill that niche and crack a historically expensive market to enter? I think so. Part of the Genesis plan is in crafting a proper luxury buying environment, what it calls its "hassle-free customer experience." It is unclear if this will mean fixed market pricing and no-negotiating terms but we can certainly draw that conclusion. As much as consumers claim they don't want to hassle, past attempts at fixed pricing have had mixed results. Though, with the emergence of Tesla as a real luxury contender using that kind of pricing model, maybe it's something thats time has finally come. When Hyundai introduced the Equus to the American market they placed an emphasis on the customer experience, requesting that each Equus qualified Hyundai dealership assign an "Equus Champion" to specifically handle all Equus inquires and follow a meticulously designed sales process. This salesperson had to take extra online training and pass multiple choice tests to maintain their position to sell Equus. Hyundai knows that customers buying a $60,000 vehicle expect a different experience than those buying a $30,000 one. The former group is more in tune to the concierge experience, a complete envelopment of the buyers attention and needs. Hyundai achieved this with personal on call attention from the Equus Champion, who went so far as picking up the customers vehicle well after purchase, dropping off a Genesis sedan loaner, and taking care of the entire vehicle service process (included free of charge of course) without barely any customer involvement.

NHTSA investigating 8 million airbags not made by Takata

In a shocking turn of events, we have a line of airbags under investigation that weren't made by Takata. Rather, Automotive News reports that 8,000,000 airbags made by ARC Automotive Inc. are under investigation by the National Highway Traffic Safety Administration (NHTSA). According to Automotive News, NHTSA is looking into ARC's airbags after two injuries and a recent death were attributed to the company's products. The two injuries occurred first and prompted the initial inquiry of 490,000 airbags, which then expanded after an airbag from a different line caused the death of a Canadian driver. The airbags in question are found in GM, FCA, Hyundai and Kia products, and all automakers are cooperating with the investigation, Automotive News reports. It is also important to note that these airbags have not been recalled, as NHTSA is trying to determine the issue and whether a recall is necessary. NHTSA also told the news outlet that the ARC inflators use a different design than those from Takata, instead using some pressurized gas and an ammonium nitrate charge. While the design may be different, the Takata inflators also used ammonium nitrate propellant, which other manufacturers have avoided. We will be watching this situation closely to see what develops. Here's hoping – for our collective safety and sanity – that we won't have to go through another airbag crisis like with the Takata recall. Related Video: News Source: Automotive NewsImage Credit: Shutterstock Government/Legal Hyundai Kia Safety FCA airbag fiat chrysler automobiles