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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.

2016 Hyundai Sonata Hybrid, PHEV gets conservative new look, more range

The plug-in hybrid middle ground between the 2015 Toyota Prius Plug-In (11 miles of EV range) and the 2016 Chevrolet Volt (50 miles) has long been the Ford domain. The Blue Oval has two plug-in hybrids with 20 miles of all-electric range, its 2015 Fusion and C-Max Energi Plug-in Hybrids. Entering this fray later this year will be the 2016 Hyundai Sonata Plug-In Hybrid, which will arrive with 22 miles of EV range and 93 MPGe. Hyundai made that announcement at the Detroit Auto Show this morning, saying that 22 miles is "farther than any other midsize PHEV sedan." Those zero-emission miles will come from a 9.8-kWh lithium polymer battery and a 50-kW electric motor. Once the pack runs out, Hyundai expects the PHEV to get 40 mpg combined (as well as 38 mpg city and 43 mpg highway) thanks to the gas-powered heart of the powertrain: a 154-horsepower, 2.0-liter Nu GDI four-cylinder engine that puts out 140 pound-feet of torque. When combined with the motor, the total system output is 202 horsepower. Hyundai is also showing off a non-plug Sonata Hybrid, which is expected to get a 10-percent fuel economy boost. The current version gets 38 mpg, combined, so that hints at around 42 mpg on the sticker when the car arrives in dealerships. The plugless model has to make due with a 51-hp, 38-kW electric motor that offers 151 pound-feet of torque and a net power rating of 193 horsepower. The two new Sonata Hybrid models have their own, more aerodynamic front and rear fascias as well as "purposefully unique wheels" that help drop the drag coefficient to just 0.24. The PHEV has a unique grille and a charge port on the front driver's side. Both models will arrive in dealerships later this year. Featured Gallery 2016 Hyundai Sonata Plug In Hybrid View 12 Photos Green Detroit Auto Show Hyundai Fuel Efficiency Hybrid Sedan

Cheapest SUVs of 2024

There is no doubt that cost is the number one decision maker when it comes to purchasing a vehicle. As prices continue to climb, affordable choices are getting harder to find, so we dug through what's available to find the least expensive SUVs in the most popular classes.  These prices are current as of January 2024, using available manufacturer suggested retail prices for 2024 models wherever possible. The prices include destination fees, but not dealer markups or incentives. Cheapest small SUV: 2024 Hyundai Venue Not surprisingly, the most affordable SUVs are the smallest. There's a whole host of subcompact SUVs out there, with some of the first introduced being the Nissan Juke, Mini Countryman and Kia Soul. In the beginning, these micro utes were marketed to empty nesters and first-time buyers, but nowadays they represent an alternative to the conventional sedan and have been increasing market share ever since. Profit margins in this class are narrow and popularity is high, which means the entrants are competitively priced. The top choices in the class are only a couple thousand dollars more than the most affordable alternatives below, so it may make sense to consider our favorites that include the Mazda CX-30, Volkswagen Taos and Chevrolet Trax. 2024 Hyundai Venue: $21,135 The Hyundai Venue debuted in 2020 and earned praise for its overall value. You get a ton of features for the money as well as a very generous warranty. Holding it back is its rather weak engine and very tiny proportions. Honorable mentions: 2024 Chevrolet Trax: $21,495 2024 Kia Soul: $21,565 Cheapest midsize SUV: 2024 Chevrolet Equinox Compact SUVs have the broadest appeal thanks to a very diverse group. It seems as though there's a great pick for nearly every taste, whether you're seeking something sporty, rugged or luxurious. They're a great pick for small families with one child and/or a dog. The class is led by vehicles that include the Honda CR-V, Kia Sportage and Mazda CX-50, which are still within reach of most shoppers' budgets. 2024 Chevrolet Equinox: $27,995 The Equinox debuted back in 2005 and this current third-generation was last redesigned in 2018, though a new one is right around the corner for the 2025 model year. While the current 2024 model may be showing its age, it still deserves your consideration for its comfortable ride quality, confident cornering and roomy passenger space.