2014 Kia Optima Lx on 2040-cars

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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 Seltos, electric Cadillac and a looming Bronco | Autoblog Podcast #615

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Green, John Beltz Snyder, and Associate Editor Byron Hurd makes his ABP debut. This week, they start with the cars they've been driving: the Jaguar XE, Kia Seltos, Hyundai Venue and Ford Escape. Then they dig into the news, including an upcoming Cadillac EV, Lincoln and Chevy sedans and the Ford Bronco. Finally, they help a listener replace his Jeep Patriot in the Spend My Money segment. Autoblog Podcast #615 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving: Jaguar XE 300 R-Dynamic S Kia Seltos Hyundai Venue Ford Escape Cadillac bringing EV to New York Auto Show Chevy and Lincoln dealers say they still want sedans Ford tells dealers the Bronco is weeks away from its global debut Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: 2020 Ford Escape 2.0T #POV drive

Provo concept name has Kia embroiled in terrorism controversy?

In the relatively lengthy press release that Kia composed for the launch of its Provo concept car at the Geneva Motor Show this week, the company never mentioned where the name came from, or what it means for the car. A very basic web search for "Provo" reveals that the inspiration for the hatch could have been a city in Utah, a township in South Dakota or a village in Bosnia. The name could be a reference to either an American (Fred) or Canadian (Dwayne) football player, and Provo might also accurately reference a "Dutch counterculture movement in the mid-1960s" or a ship in the US Navy. More likely than any of those, however, is that the Kia designers of the concept - a car that was wholly a product of the Korean automaker's design studios in Frankfurt, for the record - meant it as a play on the existing Pro_cee'd hatchback.
What the designers and Kia executives that signed off on the Provo almost certainly did not have in mind was a reference to a street name for the Provisional Irish Republican Army. That "Provo" was, according to TheDetroitBureau.com, an outlawed army faction that was blamed for some 2,000 deaths in Northern Ireland during a period stretching from 1970 to 1997.
And yet, it was that association that led Gregory Campbell, a member of parliament from Northern Ireland, to introduce legislation that would ban Kia from selling a car under the name Provo. Kia, quick to realize the sizable gaffe it has stumbled into with the name, has reportedly already promised not to use the name for a production vehicle.