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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.

Wards names its 2015 10 Best Interiors list

Wards Automotive has named the winners of its 10 Best Interior awards, covering a wide but affordable array of vehicles. Where last year's list contained two six-figure vehicles, including the $372,800 Rolls-Royce Wraith, this year's is, well, a whole lot more reasonable. The publication lists the Mercedes-Benz C400 at $65,000 (which seems off), making it the most expensive vehicle here. That said, we'd argue that the entire C-Class line deserves to make this year's list, owing to its varied and high-quality selection of materials. The other vehicle to break the $60,000 mark, meanwhile, is the $60,675 Ford F-150 King Ranch, which has 327,000 pounds of leather lining its interior. Only one other German car, the BMW i3, and one other pickup truck, the GMC Canyon, managed to make this year's list. Here's the full list of this year's winners: 2014 BMW i3 ($52,550) 2015 Chrysler 300C Platinum ($51,175) 2015 Ford F-150 King Ranch ($60,675) 2015 GMC Canyon SLT ($40,465) 2015 Honda Fit EX-L ($21,590) 2015 Jeep Renegade Limited ($33,205) 2015 Kia Sedona SXL ($43,295) 2016 Mazda6 Grand Touring ($33,395) 2015 Mercedes C400 ($65,000) 2015 Nissan Murano SL ($41,905) See what we mean about the mainstream vehicles? Not only is there a distinct lack of luxury brands, it's the price of some of the vehicles that surprise. The Honda Fit, Jeep Renegade and Mazda6 are very reasonably priced, especially when you compare Wards price with the starting price. The Renegade Limited starts at less than $25,000, the Mazda at less than $22K and the Fit at under $16,000. Head over to Wards for a more detailed explanation of why each vehicle won. Featured Gallery 2015 Ward's Automotive 10 Best Interiors View 10 Photos News Source: Wards Automotive BMW Chrysler Ford GMC Honda Jeep Kia Mazda Mercedes-Benz Nissan Truck Crossover Hatchback Sedan nissan murano gmc canyon Interior jeep renegade WardsAuto kia sedona wards 10 best interiors mercedes c400

2015 Kia Sedona Review

We wish Ambrose Bierce had lived long enough to include the word "minivan" in his Devil's Dictionary, a reference work for the comprehensively disenchanted that defines "year" as "a period of 365 disappointments" and self-esteem as "an erroneous appraisal." We want to know how the Socrates of cynics would classify the method of conveyance that enthusiasts won't stop hating, but we just can't get rid of. Today, the minivan is adored for practical reasons – every single one on the market excels at its intended purpose. Dealers say minivans have great margins and they can't keep them in stock even when these vehicles sticker north of $40,000. A market consolidated to five automakers means strong sales for the segment leaders. Combined sales of the Dodge Grand Caravan and Chrysler Town & Country lead through June of this year with 75,840 units. The Toyota Sienna is in second at 71,381 sales, the Honda Odyssey has sold 62,636, and the Nissan Quest is barely a blip at 5,400. But the three big minivan brands aren't the only game in town. The rival Kia Sedona is an incredibly compelling package, as 20,608 owners have discovered so far in 2015. It's not an old-fashioned way to haul kids, it's a way to haul kids and make a statement. The Sedona's aesthetic is a box that's outside-the-box. Taken from the three-quarter view the profile is close to an urban cargo van with windows; it's a handsome package. It's the same width as its predecessor but 2.4 inches lower, wearing Kia's strongly horizontal frontal identity. We like the tabbed grille, and the intensity of the sheetmetal in front counters the chrome accents. But our SXL tester sure has a lot of brightwork – more than other minivans. From the side, the Sedona keeps up the muscular tones with a stout body that's light on distracting details. But it's hard to miss some similarities to the Odyssey – the way the glasshouse narrows toward the rear, the kink at the C-pillar, the driver's side sliding door rail running nearly to the rear lights. Yet you'd never mistake the two because the Kia, fuller and more upright everywhere, is bolder than the slinking Odyssey. It's not an old-fashioned way to haul kids, it's a way to haul kids and make a statement. Inside the cabin, that statement ends with an exclamation point. Ward's Auto put the Sedona on its 2015 10 Best Interiors list, an accolade warranted because everything inside oozes quality.