2024 Kia Sportage X-line on 2040-cars

Auto blog

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.

2014 Kia Cadenza goes on sale this month priced from $35,100*

Kia's sedan lineup is about to get much more luxurious with the addition of the new Cadenza and range-topping Quoris models, but the Amanti-replacing 2014 Cadenza will be the first to hit dealers this month with a starting price of $35,100 (*not including $800 for destination). For those keeping record, that's more expensive than Hyundai's version of this car, the Azera, and about $1,000 more than the Genesis, but it sounds like the new front-wheel-drive Kia will be getting a few more advanced features than its Hyundai counterpart.
In base form, the Cadenza comes standard with leather seating, navigation and a premium Infinity 12-speaker audio system, and the $3,000 Luxury Package adds nappa leather seats with a ventilated driver's seat, a seven-inch thin-film transistor (TFT) display, heated rear seats, power tilt and telescoping steering column, adaptive HID headlights and a panoramic sunroof. On models already equipped with the Luxury Package, buyers can also add on the Technology Package, which includes adaptive cruise control, blind spot detection, lane departure warning and hydrophobic glass on the front doors - previously, Kia stated that the Cadenza would be getting this water-repelling technology on the windshield, but this press release specifies that it will be applied to the front side windows. And if these two packages aren't enough luxury for you, Kia's cherry on top is a no-cost White Package that adds white nappa leather seats, woodgrain trim and a premium headliner.
All in, the 2014 Cadenza will run $41,100 with every option box checked, so we can only imagine how much the Qurois is going to cost when it makes its debut. Scroll down for the press release detailing the pricing for the new Cadenza.

Renault Scenic EV takes first place as (European) Car of the Year

The automobile awards season may not be over, but two of the more prestigious annual races came closer to a climax this week. One might need a scorecard to keep track. We’re focused here on two events: the World Car of 2024, now reduced to three finalists in six categories. Then thereÂ’s the Car of the Year, known in some quarters as the European Car of the Year. Except that the car doesnÂ’t have to be European to win, only sold there. Got that? Winners out of the way first: At the Geneva Motor Show on Monday, the Renault Scenic E-Tech all-electric has been voted Car of the Year 2024. The Scenic is a fairly compact, somewhat stylish SUV for Europe only, and is the seventh vehicle from the French brand to win the award. It sells in the United Kingdom for about $47,500. The other six finalists that had made the first cut of voting in November were the BMW 5 Series, BYD Seal, Kia EV9, Peugeot E-3008/3008, Toyota C-HR, and Volvo EX30. The trophy winner was chosen by a jury of 59 motoring journalists from 22 countries. Scenic came in first place with 329 points. The Seal was the first Chinese-made car to make this awardÂ’s shortlist; it finished sixth out of seven, just up from the Toyota. One judge explained his decision to grant the Seal zero votes. Writing in Top Gear, Paul Horrell wrote this entertaining critique: “It looks good and is well specified, so makes a strong market entry. The advanced electric system and cobalt-free battery are commendable too, and it's enjoyable enough to drive quickly. That's undermined by an agitated ride over bumps, and the logic of screens and switches is pretty eccentric.” Recapping the World Car of the Year 2024 update, the sponsors shared the stage at Geneva on Monday with the Europeans as well, although they revealed only the top three finalists in six categories. For the ultimate prize, they are the Kia EV9, the Volvo EX30 and the BYD Seal. The winners will be announced March 27 at the New York International Auto Show. Here's more on the World Car finalists. By the Numbers Geneva Motor Show New York Auto Show BMW Kia Toyota Volvo Peugeot Renault Green Automakers Best Cars