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Kia previews new Cadenza

Kia is preparing to roll out a new Cadenza. Which only makes sense, since the current model has been in production since 2010 – even if it only reached North American showrooms in 2013. And to give us an idea of what we can expect, the Korean automaker has released a trio of renderings of the design. From what we can see so far, the upcoming new Kia Cadenza looks like a familiar evolution of the current model, with elements of the new Optima and other recent Kia concepts – like the Sportspace and Novo – thrown in for good measure. It looks sharper than any of those, however, with a long hood and a wide, low stance. The interior looks promising as well, with a horizontal dashboard design and what's sure to be a more upscale look and feel inside. The model known in its home market as the K7 will slot in once again near the top of the Kia lineup underneath the K900. It's destined to reach showrooms sometime in the new year. Kia's timing in releasing these renderings suggests we might see it in LA later this month, where the new Sportage will also be making its US auto show debut. So to avoid splitting the spotlight, we might have to wait a little longer until another show like Detroit to see it in full and up close. Kia Motors previews next-generation Cadenza 12-Nov-2015 The all-new Kia Cadenza will set new benchmarks for cutting-edge design, interior quality and contemporary luxury when it goes on sale in overseas markets in 2016. Previewed for the first time in new images released today, the next-generation Cadenza maintains the progressive, contemporary image of the current model, while introducing higher levels of luxury and refinement to the large sedan segment. The all-new Cadenza offers a bold reinterpretation of the current model's popular design, featuring an elongated bonnet, a wider, lower stance and sharper styling lines, with a thoroughly modern execution of signature Kia design cues ensuring the new Cadenza is instantly recognizable. The cabin of the all-new Cadenza has been designed anew, boasting a fresh, luxurious appearance and layout that offers a sense of width and spaciousness. With a premium new design and higher-quality materials than ever before – two elements inspired by European tastes – the Cadenza's new cabin will set a new standard for luxury and refinement in its class. The all-new Kia Cadenza will go on sale in overseas markets in 2016.

U.S. VP Harris pledges to consult S. Korea over EV subsidy concerns

TOKYO/SEOUL — U.S. Vice President Kamala Harris told South Korea's prime minister on Tuesday that Washington will work to address Seoul's concerns over recently enacted electric vehicle (EV) subsidies that could disadvantage Asian automakers. The $430 billion "Inflation Reduction Act" bill enacted in August includes a host of U.S. President Joe Biden's priorities, including investments to roll back climate change and make Washington a world leader in the EV market. Among the law's provisions are requirements that EVs be assembled in North America to qualify for tax credits. The law also ends subsidies for other EV models and requires that a percentage of critical minerals used in those cars' batteries come from the United States or an American free-trade partner. Harris, visiting Japan, met with South Korea's Han Duck-soo and "underscored that she understood (Korean) concerns regarding the Act's tax incentives for electric vehicles, and they pledged to continue to consult as the law is implemented," the White House said. A senior Biden administration official said extensive conversations have already taken place within the U.S. government over how to address South Korea's concerns. "She listened very carefully and made clear our commitment to work within the U.S. government — the U.S. Trade Representative, the Treasury Department — as we look ... to help address that issue," the official said. Biden has sought to deepen business with South Korea as part of a bid to increase U.S. manufacturing jobs and build a united front against China, who he views as the country's key ideological and economic competitor. Korean officials see the new requirements as a betrayal after South Korean companies agreed to make major investments and build factories in the United States. Heavily industrialized South Korea worries the new subsidies will set back Hyundai Motor Co and its affiliate Kia Corp in the world's largest consumer market. Cars are South Korea's third-largest export. (Reporting by Trevor Hunnicutt in Tokyo, and Soo-hyang Choi and Joyce Lee in Seoul; Editing by Clarence Fernandez and Kim Coghill) Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Government/Legal Green Plants/Manufacturing Genesis Hyundai Kia Electric South Korea

Hyundai Q1 profit triples, as it adjusts production due to chip shortage

  SEOUL — Hyundai Motor Co posted a first-quarter profit that nearly tripled to its highest in four years as people bought its luxury cars, but warned it would have to adjust production again in May because of a chip shortage. Unlike its rivals, the South Korean automaker staved off production halts in the first quarter, thanks to a healthy chip inventory. But the shortage, exacerbated by factors including a fire at a chip factory in Japan and storms in Texas, is now catching up with Hyundai. Hyundai, which has lagged its rivals in the electric vehicle (EV) race, also said on Thursday that it was developing solid-state batteries and planned to mass produce EVs using solid state batteries in 2030. In February, Hyundai launched its Ioniq 5 electric midsize crossover, the first in a planned family of EVs that it hopes will propel it into the third rank of global EV makers by 2025. Hyundai Motor and Kia together aim to sell 1 million EVs in 2025. In the quarter ended March 31, Hyundai was unscathed as people at home and the United States snapped up its high-margin sports-utility vehicles and premium Genesis cars as the coronavirus pandemic dragged on, fueling car ownership. Net profit surged 187% to 1.3 trillion won ($1.16 billion) from 463 billion a year earlier, when business slumped as countries shut down to limit the spread of the coronavirus. This was in line with an average Refinitiv SmartEstimate. Revenue rose 8.2% to 27.4 trillion won. Hyundai is expected to report net profit of 1.4 trillion won for the April-June period, up 536% from the corresponding period a year earlier, Refinitiv SmartEstimate showed. Hyundai affiliate Kia Corp reported operating profit of 1.1 trillion won for January-March, up 142% on the year. Hyundai, which together with Kia is among the world's top 10 automakers by sales, has temporarily paused production three times since the beginning of this month and saved chips for its most popular models. "The condition of semiconductor parts is being a little more prolonged than we expected," said Seo Gang-hyun, an executive vice president at Hyundai. "As the semiconductor procurement condition is rapidly changing, it's difficult to predict production status after May.