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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

2015 Sedona shows Kia hasn't given up on minivans

Is it weird that one of the most exciting vehicles to arrive at the 2014 New York Auto Show is a minivan? Well, yeah, it's pretty odd. Still, with the design direction from Peter Schreyer, not to mention Kia's traditionally aggressive pricing, excellent warranty and solid list of high-end equipment, the new, 2015 Sedona could end up being a big winner for the Korean brand.
The design, which shares a lot of the styling that's been instigated by Schreyer since he joined Kia, looks just as good when shaped like a minivan. The grille and headlights clearly tie the Sedona to the likes of the Cadenza and K900, while features like its higher beltline and simple-but-stylish back end should do well with minivan buyers.
At first glance we aren't too enthused by the interior on the largest Kia, however. The dash looks rather plasticky, although the color scheme at work is pretty attractive. Of course, we'll need to get the big van out from under the auto show lights to render a final judgment on the cabin materials. On the space and versatility fronts, though, the Sedona looks like a winner. It will be available in either seven- or eight-passenger configurations, while the Captain's chairs on the seven-seat layout offer an ottoman that should make it even easier for the kids to fall asleep on family road trips.

Hyundai promoting younger execs in bid to 'smoothen an eventual leadership succession'

Experience versus the next generation. It's the decision any organization has to make when it comes to its succession of leadership. But even companies that value wisdom over vitality will eventually have to hand the reins to a new generation of leaders. And that seems to be what the Hyundai Motor Group is preparing for. The Korean automaker has promoted three executives in their early 50s to the rank of Executive Vice President. Chief marketing officer Cho Won-hong (50), PR chief Kong Young-woon (50) and Kim Gyun (52), head of strategic planning at Kia, are all being promoted to the role, putting them in senior leadership positions at one of the world's largest automakers. Reuters frames the promotions as earmarked to "smoothen an eventual leadership succession" at Hyundai. The family-owned company is currently chaired by Chung Mong-koo (76), who has given little indication that he's preparing to step down in the near future. But when he does, he's widely expected to relinquish control to his only son, current vice-chairman and former Kia president Chung Eui-sun (44, pictured), who is said to have chosen the aforementioned US-educated Cho for the promotion. News Source: ReutersImage Credit: SAMUEL KUBANI/AFP/Getty Hirings/Firings/Layoffs Hyundai Kia