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South Korea island of Jeju becoming an EV-incentive heaven

When it comes to providing some island EV love, we can point to Hawaii, which has been pushing hard for greater electric-vehicle adoption through subsidies and a broader charging network. Now, South Korea has Jeju. We're not sure if the surf is as good. Like Hawaii, Jeju is focusing on a "carbon-free" existence and lowered fossil-fuel dependency as a way to help the environment while addressing the extra expenses involved in providing fuel locally, Wards Auto says. Jeju, which is about 720 square miles, provides about $7,000 worth of EV incentives on top of those provided by the South Korean government. As a result, the cost of buying an EV can be cut in half. In the case of a Chevrolet Spark EV, going electric actually has a lower out-of-pocket price tag than buying a gas-powered counterpart on the island. South Korea's Ministry of Environment has earmarked about $14,000 in subsidies for each EV purchase, while 10 South Korean cities are adding on incentives anywhere from about $2,800 to $7,400 per vehicle. South Korean automaker Hyundai and affiliate Kia are just starting to do their part to boost the country's EV sales, which didn't even break the 800-unit mark last year. Kia recently said it will start making its 2015 model-year Soul EV in April, with sales debuting in South Korea by the end of the year. Hyundai is said to start selling its own EV starting in 2016. News Source: Wards AutoImage Credit: Korean Tourism Organization Government/Legal Green Hyundai Kia Electric incentives tax incentives island

Guess which brand's not on a top 10 list of best EVs (hint: it's Tesla)

Few surprises lurk in Autotrader’s list of its 10 best electric vehicles of 2023, but there is one that stands out: no Teslas. There's Hyundais and Kias, Porsches and Fords, a BMW and a Nissan. But Â… no Teslas. Although many of us admit to being over-Musked and tired of reading about him, the lack of a Tesla model on a selection of the 10 most desirable current EVs is conspicuous by its absence. Asked about this particular omission, we received this rather vague response from Autotrader spokesperson Brenna Buehler at Cox Automotive: “Tesla models were included in consideration but didnÂ’t get sufficiently high scores by the Editorial team to qualify for the top 10.” At least some Tesla offerings appeared to meet all the requirements set by the website. The manufacturers must offer 2023 model year vehicles, and they have to be sold in at least 15 states. Check. Only pure EVs were allowed on the list; there are no hybrids, plug-in hybrids or hydrogen fuel-cell vehicles. Check. The base manufacturer's suggested retail price must be less than $100,000. Check. Let the debates begin. Moving on, it should be noted that two Genesis models, a G80 sedan and GV 60 SUV, are listed, along with a Lucid Air midsize sedan, the Rivian R1T pickup, and the Porsche Taycan. Here is the full list, with the remarks and comments from Autotrader's raters. (And we've included links to Autoblog's own reviews for a deeper dive). The EVs are listed in alphabetical order by brand, so don't read anything into the order of presentation: 2023 BMW i4 BMW reboots its EV approach and comes up with a winner: Whatever you thought of BMW's first run at EV, the i3, it was missing a certain something – it didn't look or perform like a BMW. The 2023 BMW i4 corrects course with a Gran Coupe that our editors agree looks and drives like a BMW. 2023 Ford F-150 Lightning Ford's electric pickup gathers steam in its second year: The F-150 Lightning somehow synthesized decades of pickup truck knowledge with the latest and greatest EV technology and infused thoughtful details and user-friendly features. 2023 Genesis Electrified G80South Korea's luxury brand shows how to elevate the executive EV sedan without breaking the bank: Genesis, Hyundai's luxury offshoot, rethought the gasoline-powered luxury sedan, the G80, and developed the 2023 Genesis Electrified G80. Precisely as the name hints, the Electrified G80 replaces the G80's engine with an all-wheel-drive EV powertrain.

Hyundai, Kia looking to cut costs

Hyundai and Kia are off to roaring starts in the United States this year, underscored by Kia's best sales month ever in May. But globally the situation for the South Korean siblings hasn't been nearly so positive. Recently, they reported their fourth consecutive quarter of decreasing operating profits worldwide, and now they're "making efforts to cut costs," according to a statement in a joint email obtained by Bloomberg. However, the companies aren't detailing where they would make the cuts or how much they want to save. The amount could be significant, though. An unnamed Hyundai senior executive reportedly told a South Korean newspaper that the business might be aiming for up to 30 percent in reductions. According to Bloomberg, Hyundai and Kia are facing falling total sales worldwide. Making the situation worse is that the strong Korean won versus the weaker Japanese yen gives competitors an advantage. The automakers also angered investors enough last year to prompt a stock buyback after paying $10 billion for the land for a future headquarters. The prognosis doesn't look utterly dire, though, and new products are on the way. For example, the Hyundai Santa Fe is being refreshed in South Korea, and the next-gen Elantra debuts at this year's Los Angeles Auto Show. There's also the Creta on the way for foreign markets. Additionally, several models are still awaiting the green light, including a Hyundai Genesis-based luxury crossover, a compact CUV, and the Santa Cruz unibody pickup. Meanwhile, the Kia GT is reportedly close to production, too. Related Video: