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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 GT spied looking like a rakish, sexy Forte

Just over four months ago, we told you that Kia would offer a production version of its handsome GT concept. Now, we have images of the svelte new four-door testing in Germany. It looks like we're getting a sexy, rear-drive performance sedan the size of a Kia Forte. And we're pretty stoked. Judging by our spy images, Kia is going to stick pretty close to the concept car's rakish lines. That means more four-door coupe than three-box sedan, which is precisely the kind of thing Kia could use. Beyond the overall shape, the headlights retain the same interesting shape as the concept, albeit in a more production-focused look. They crown a production-spec fascia, with more conventional vertical intakes. In back, the vehicle-spanning taillight element from the concept car appears to have been replaced by a conventional set of lamps – there's camo where the lighting element should be. Speaking of the tail, look at those tailpipes. Few things shout "Rawr, I'm a performance car," like a meaty set of quad exhausts. It's hard to tell here, but the rear fascia looks much more conventional than the GT concept, too, which went with a very aero-intensive design. Under the skin, our spies tell us the GT rides on a shortened version of the rear-drive platform slated to underpin the upcoming Genesis G70 – that backs up the reports that the GT would challenge the BMW 4 Series Gran Coupe. Our most recent report pointed to a range of four and six-cylinder engines from 2.0- to 3.3-liters. Our spies suggest that twin-turbocharged V6 will put out anywhere from 365 to 400 ponies. Obviously, this would be a range-topping model, but what a range-topper it would be. It's like a budget M4. Our best intelligence points to the GT's production debut at the 2016 Paris Motor Show, with an on-sale date in just under a year.

Kia Telluride Concept is a 400-hp hybrid based on Sorento SUV [w/video]

After teasing the exterior and the interior of the Kia Telluride, here we have the full monty in Dark Pyrite Green. Although Kia warned us that this is only a design exercise for a full-sized, three-row, seven-seat hauler, the brand notes that all of the primary bits are based on existing production Kia technology. It's built on the modified underpinnings of the mid-sized Sorento crossover, but the Telluride's wheelbase is 11.9 inches longer, and overall it's 9.5 inches longer, 4.7 inches wider, and 4.4 inches taller than the mid-sizer. Inside, Kia worked hardest on the well-being of second-row passengers. Four captains chairs comprise the first two rows, and the second-row thrones have footrests that can be folded nearly flat when not in use. Sensors in the forward four seats have sensors that read the "vital health information" of occupants and display it on door panels. Those in the second row will then benefit from Light Emitted Rejuvenation – a light show provided by an LED panel under the sunroof – to treat jet lag. Other notables inside include 3D printed components in front, and a swipe-controlled media panel behind the front seats. As for the design, the front fascia goes so bold that it reminds us of an American pickup truck. Behind what Kia calls the "tiger nose" grille is a 270-horsepower, 3.6-liter V6 paired with a 130-hp electric motor, said to return more than 30 highway miles per gallon in all-wheel-drive guise. Kia has a less powerful hybrid crossover coming soon called the Niro. Kia wants you to recall that it has a history of turning concepts into production vehicles. But you should also remember that the firm's first and only other full-size entry, the body-on-frame Borrego that lasted all of a year in production, started off as the Mesa concept. Check out the press release below for more. KIA TELLURIDE CONCEPT MAKES WORLD DEBUT AT NORTH AMERICAN INTERNATIONAL AUTO SHOW IN DETROIT Elegant and Sophisticated, the Kia Telluride Combines Breakthrough Technology, Rugged Beauty, and Functionality in a Full-Size Sport Utility Vehicle • Telluride takes Kia's design language in a bold new direction and suggests styling of a possible future premium large SUV in the brand's lineup • Telluride pushes the boundaries of technology with unique in-cabin health-and-wellness technology and luxury DETROIT, Jan.