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Biden says U.S. is willing to continue talks with South Korea on EV subsidy

SEOUL — President Joe Biden has expressed willingness to continue talks with South Korea over recent U.S. legislation that denies subsidies to most foreign makers of electric vehicles (EVs), an official from Yoon's office said on Wednesday. Biden gave the assurance in a letter to South Korean President Yoon Suk-yeol, who had asked the U.S. president last month for help to allay Seoul's concerns that the new U.S. rules would hurt South Korea's automakers. "We assess that President Biden reaffirmed his understanding of our concerns through a personally signed letter .... it shows Biden's willingness to be considerate towards South Korean companies in the future," the official said. The Inflation Reduction Act, signed by Biden in August, requires EVs assembled in North America to qualify for tax credits in the United States, but excluded Hyundai Motor Co and its affiliate Kia Corp from EV subsidies, as they do not yet make the vehicles there. As a result, only about 20 EVs qualify for subsidies under the new rules. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Government/Legal Green Genesis Hyundai Kia EV tax credit

Superman-themed Kia Optima Hybrid definitely not faster than a speeding bullet

The Justice League of America's garage is filling up quickly, with Kia and DC Entertainment unveiling its sixth of eight super hero-inspired vehicles at the Chicago Auto Show today. The vehicles are being used to raise awareness for DC Entertainment's "We Can Be Heroes" giving campaign.
The latest Kia to get the super hero treatment is the Optima Hybrid, which draws on the almighty Superman for inspiration. We're not sure what to make of this thing, honestly, as neither Clark Kent nor Kal-El would be caught dead in it (unless it's got the optional Kryptonite seatbelts, of course). Rather, this looks like what we imagine a Superman fanboy would construct if given carte blanche to ruin an Optima Hybrid. The actual design and construction were handled jointly by Kia, DC Entertainment and Super Street magazine.
We'll let the pictures do the talking in terms of what modifications were made since they're all cosmetic. That is, no mechanical mods were done to make the Kia Optima either faster than a speeding bullet or more powerful than a locomotive (shame).

Chrysler and Hyundai join Pepsi and Coke as top Super Bowl spenders [w/ video]

Super Bowl XLVIII is barely a week away, and some of the early ads are already leaking out. It's timely then that The Street has released rankings of the top five Super Bowl advertisers since 2009, showing Chrysler and Hyundai/Kia taking two of the spots with $131.7 million in cumulative spending.
Since 2010, the cost to air a 30-second Super Bowl ad has risen from $3 million in 2009 to about $4 million in 2014, and about a fifth of advertisers opt for a one-minute ad, which doubles costs. Last year, the ads brought in $292 million, and they have brought in roughly $2 billion since 2010.
Chrysler has spent $64.3 million since 2009 to make it the fourth highest spending company in the last five years. In that time, the company has rebranded itself as it emerged from bankruptcy with the Imported from Detroit ad campaign that premiered in 2011 and last year's God Made a Farmer Ram Trucks ad. Its 2012 Halftime in America sparked national debate about whether it was also a reference to the upcoming presidential election.