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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.

2016 Kia Soul EV gets $2k-cheaper base model

With the 2016 Kia Soul EV arriving at dealers in Washington, Oregon, Texas, Georgia, and Hawaii, the company is set to tap a huge array of new customers. Perhaps recognizing that fact, the South Korean brand has added a new base trim that allegedly slashes the electric car's starting price by some $2,000. Joining the former entry-level Soul EV and top-of-the-line EV+, is the new EV-e. While it's considered the base model, it still offers push-button start and a special driver's-side-only ventilation function for the HVAC system, on top of standard front heated seats and a heated steering wheel. The charging system – two ports, one for Level 1 and Level 2 AC charging, and another for DC fast charging – and electric motor/battery pack remains unchanged on the new base trim. As for the rumored pricing figure, it comes from Kia World, which claims the new EV-e will ring up at just $31,950 before and state or federal incentives. As we said, that's some $2,000 less than the current starting price, if the report proves true. Kia is also addressing the customers at the top of the Soul EV range, adding a new Sun and Fun package for the EV+. The new package adds a panoramic sunroof and LED speaker lights that match to whatever music is playing through the six-speaker stereo. Both features have existed on the gas-powered Soul for some time, but are welcome additions to the electric hatchback. As we reported previously, sales of the Soul EV in Oregon, Washington, Texas, Georgia, and Hawaii should be underway as of this month. It's not clear, however, when the new entry level EV-e will arrive in dealers. Related Video: 2016 KIA SOUL EV OVERVIEW Kia Expands Eco-friendly and Affordable Soul EV Lineup for 2016 New 2016 Soul EV-e trim1 adds new value to the electric vehicle segment New Sun & Fun Package for Soul EV+ (plus) adds a host of premium amenities, including panoramic sunroof IRVINE, Calif., July 8, 2015 – The 2016 Soul EV marks the second year of Kia's first mass-market zero emissions, battery electric vehicle. For 2016, the Soul EV is offered in three trims – Soul EV-e, Soul EV, Soul EV+ (plus) – up from two in 2015. Offering a long list of standard equipment at a lower price point, the Soul EV-e brings new value for those looking for a fun and funky alternative in the EV segment. The Soul EV+ continues as the range-topping trim, and is further enhanced for 2016 with the addition of the Sun & Fun Package.

Compact SUV Comparison: Specs, pics and reviews of every brand's crossover

Honda CR-V vs Toyota RAV4. Chevy Equinox vs Ford Escape. Mazda CX-5 vs Subaru Forester. Whichever combinations of compact crossover SUV you're considering, there's probably a comparison test or chart out there to read. Heck, you can even create a three-car comparison yourself here at Autoblog. However, if you want a bunch of that information all in one convenient place, well, here it is. Our mega comparison of specs, features and photos of compact SUV entries from every mainstream manufacturer that sells them. That includes the 2018 Chevrolet Equinox, 2018 Ford Escape, 2018 GMC Terrain, 2018 Honda CR-V, 2018 Hyundai Tucson, 2019 Jeep Cherokee (it's already on sale with notable changes from 2018), 2018 Jeep Compass, 2018 Kia Sportage, 2018 Mazda CX-5, 2018 Mitsubishi Eclipse Cross (none of Mitsu's SUVs are perfect fits for this segment, so we deemed the MEC the most competitive fit), 2018 Nissan Rogue, 2018 Subaru Forester, 2018 Toyota RAV4 and 2018 Volkswagen Tiguan. We can update this comparison as more information about 2019 models is released, most notably the Forester and RAV4. Now, there are certainly some models that are smaller (Nissan Rogue Sport) or larger (Kia Sorento) that could also be considered, but we figured it was wise to stick with those in this sweet spot of comparable size and price. We also included links to Autoblog reviews, buying guides and smaller comparisons. Engines and Transmissions With rare exception, this segment features four-cylinder power. Sometimes it's turbocharged, often its not, but standard engine outputs are generally in the same ballpark. Therefore, we'd recommend focusing on torque output, as it's what will make a difference around town or when passing, and weighing that versus fuel economy (the Chevy Equinox, GMC Terrain, Honda CR-V and Mazda CX-5 make particularly strong cases in this regard). Many drivers aren't too fond of continuously variable transmissions (CVT), either, so that's another thing to consider and note during a test drive. As you can see, several models are available with performance upgrades. Besides the Jeep Cherokee's available V6, all are more powerful turbocharged four-cylinder engines. The exception to this would be the Honda CR-V and Ford Escape, as their 1.5-liter turbo engines don't prioritize performance. Instead, they serve as overall upgrades to the base naturally aspirated engines standard on only their base trim levels (CR-V LX and Escape S).