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☆ Kia Corp's unionised workers to go on partial strike over wages
▼ + stars: | 2023-10-11 | by ( Heekyong Yang | ) www.reuters.com time to read: +2 min

The logo of Kia Corp is seen on its electric vehicle EV6 during a photo opportunity in Seoul, South Korea, June 1, 2021. Last month, the union at South Korea's No.2 automaker with more than 26,600 members said 92.3% of its members had approved strike action unless the management accept the demands. The union said it would work regular hours on days when they are holding talks with the management. Kia declined to comment on the strike. Shares in Kia Corp were trading up 0.7%, versus the benchmark KOSPI's (.KS11) 2.1% rise as of 0217 GMT.

Persons: Kim Hong, Kia Corp's, Kia, Lee Jae, Heekyong Yang, Edmund Klamann Organizations: Kia Corp, REUTERS, Rights, Kia, South, Hyundai Motor, Hyundai Mobis, Eugene Investment, Securities, Thomson Locations: Seoul, South Korea, Rights SEOUL, KS

☆ Worried about the volatile market? Analysts love these 10 global stocks with safe and high dividends
▼ + stars: | 2023-10-11 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Some analysts recommend buying dividend stocks as a way around it. Morgan Stanley equity strategist Mike Wilson said in an Oct. 9 report that high-dividend stocks are one way investors can navigate the uncertainty. Automaker Stellantis boasted the highest dividend yield of the lot, offering around 10%, with a decent 76% buy rating from analysts, who gave it 28% potential upside. Other automakers that made the cut include Mercedes-Benz , which offered the next highest dividend yield at 8.5%, and Hyundai Motor . Prominent investor Oakmark Funds' Bill Nygren said this week that energy stocks deserve a place in the portfolio , especially when the market is especially volatile.

Persons: Morgan Stanley, Mike Wilson, Oakmark, Bill Nygren, Yun Li, Michael Bloom Organizations: BMO, CNBC Pro, Energy, Stellantis, Benz, Hyundai Motor, Hyundai, ConocoPhillips, Diamondback Energy Locations: Israel

☆ Ford, Hyundai turn to Italian casting machine maker IDRA
▼ + stars: | 2023-10-11 | by ( Giulio Piovaccari | ) www.reuters.com time to read: +2 min

The OL 9000 CS gigapress machine is pictured at the IDRA group plant in Travagliato, Italy, October 10, 2023. REUTERS/Giulio Piovaccari Acquire Licensing RightsTRAVAGLIATO, Italy, Oct 11 (Reuters) - Idra, an Italian aluminium casting machine maker and Tesla supplier (TSLA.O), has added Ford (F.N), Hyundai (005380.KS) and a European company to its customer base as more carmakers explore this manufacturing technique. The source said IDRA was also about to sign a supply contract for two 9,000 presses with a premium automaker in Europe, its first with a European group. Six gigapresses are now emerging as the standard for an annual production of 500,000 vehicles, the source added. IDRA has so far signed orders for 25 presses, with 21 already produced and shipped, including to leading 'Tier 1' parts makers.

Persons: Giulio Piovaccari, Tesla, gigapresses, IDRA Organizations: REUTERS, Hyundai, Ford, Thomson Locations: Travagliato, Italy, European, Travalgiato, Brescia, Europe, Austin, Texas

☆ Beijing Hyundai cuts asking price for Chongqing auto plant by 30%
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +2 min

A Beijing Hyundai sign is seen at an entrance to the Beijing Hyundai Motor plant in Chongqing, China October 8, 2018. REUTERS/Yilei Sun/File Photo Acquire Licensing RightsSHANGHAI, Oct 9 (Reuters) - Beijing Hyundai Motor has cut the minimum asking price for its auto plant in the southwestern Chinese city of Chongqing by almost 30% to 2.58 billion yuan ($353.38 million) after putting it up for sale in August. The price cut for the plant, a joint venture between South Korea's Hyundai Motor (011760.KS) and Beijing Automotive Group Co, was disclosed in a filing on the China Beijing Equity Exchange late last month. Beijing Hyundai Motor is selling the land use rights, equipment and other facilities belonging to its plant as the South Korean automaker rejigs its strategy in China amid fierce price competition and slowing demand. The original asking price was 3.68 billion yuan, and the statement did not give a reason for the reduction.

Persons: Brenda Goh, Zhang Yan, Joyce Lee, Jamie Freed Organizations: Beijing Hyundai, REUTERS, Yilei, Rights, South Korea's Hyundai, Beijing Automotive Group, China Beijing Equity Exchange, South, Hyundai, U.S, Thomson Locations: Beijing, Chongqing, China, South, South Korean, Seoul

Seoul/Hong Kong CNN —When Hwang Ji-sun, 52, first joined the assembly line at South Korean carmaker Hyundai 22 years ago, women like her had it tough. A wider problemDespite the incremental improvements, South Korea still has widespread problems of gender-based exclusion and low pay, researchers say. Gita Gopinath, first deputy managing director of the International Monetary Fund (IMF), has proposed South Korea adopt new measures to help keep women in the workforce. Making childcare more affordable, lowering the number of working hours or allowing more flexible arrangements is key, she told a South Korean forum last September. In a culturally conservative society like South Korea, much more needs to be done to change perceptions about women in male-dominated professions, according to Hwang.

Persons: Hong Kong CNN —, Hwang Ji, Hwang —, ”, Jung Sungmi, Hwang, Yasuyoshi Chiba, PIIE, Gita Gopinath, Roh Helena, “ Organizations: Hong Kong CNN, Hyundai, Korea Metal Workers ’ Union, CNN, ”, Economic Co, Development, Korean Women’s Development, Getty, US Bureau of Labor Statistics, country’s Ministry of Employment, Labor, Peterson Institute for International Economics, International Monetary Fund, South, “, Korean Women Workers Association, Hyundai Motor Locations: Seoul, Hong Kong, South Korea, Ulsan, United States, Turkey, India, Indonesia, AFP, South, Korea, South Korean

☆ Auto workers worry it takes less labor to build electric cars. Maybe not, some researchers say
▼ + stars: | 2023-10-06 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +7 min

It’s not that simple, though, and some researchers argue that the labor savings of electric vehicles have been greatly overstated. These were among several research reports that found little total difference in the labor hour requirements of EV manufacturing compared to gas-powered cars. Boston Consulting estimates that making battery cells takes up about 8% of the total labor to produce an entire automobile. That’s slightly higher than the percentage of labor needed to produce a gasoline engine, he said. Ford also expects to train 5,000 people to work at a joint-venture battery manufacturing facility currently under construction in Kentucky.

Persons: That’s, Turner Cotterman, Cotterman, ”, Erica Fuchs, Nathan Niese, Gerald Johnson, “, Fuchs, “ You’ve, ” Ford, Ford, that’s, Niese, They’ve Organizations: CNN, United Auto Workers, Carnegie Mellon University, McKinsey, Company, Carnegie Mellon, Boston Consulting, EV, General Motors, Battery, Toyota, BMW, Hyundai, UAW Locations: United States, Marshall , Michigan, Kentucky, Ohio, Boston

☆ Hyundai Motor to adopt Tesla EV-charging standard from 2024 in US
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsSEOUL, Oct 5 (Reuters) - Hyundai Motor Co (005380.KS) said on Thursday it has decided to adopt Tesla Inc's (TSLA.O) electric vehicle (EV) charging technology in the United States and Canada. That will give Hyundai EVs with NACS ports access to more than 12,000 Tesla Superchargers across the United States, Canada, and Mexico, the company said. Owners of existing and future Hyundai EVs with the current CCS will have access to the Tesla Supercharging Network starting in the first quarter of 2025. In June, Hyundai Motor said it would consider making its vehicles more readily compatible with the NACS charging system. Tesla's NACS is widely available, with the U.S. Department of Energy saying they make up about 60% of the fast chargers in the United States.

Persons: Andrew Kelly, Tesla, Hyundai's, Elon, company's superchargers, Jose Munoz, NACS, Heekyong Yang, Christian Schmollinger Organizations: Hyundai Kona, New York, REUTERS, Rights, Hyundai, Ford, General Motors, Nissan, Hyundai Motor, Hyundai Motor's, Global, CCS, Tesla Supercharging Network, U.S . Department of Energy, Volkswagen, Kia Corp, BMW, Thomson Locations: Manhattan , New York City, U.S, Rights SEOUL, KS, United States, Canada, Mexico

☆ Key Republican backs Biden nominee to head FAA
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +1 min

Senator Ted Cruz (R-TX) departs the U.S. Capitol building on Capitol Hill in Washington, U.S., April 26, 2023. REUTERS/Nathan Howard/ File Photo Acquire Licensing RightsWASHINGTON, Oct 5 (Reuters) - A key Senate Republican said Thursday he plans to support the White House nominee to head the Federal Aviation Administration (FAA) as the agency addresses a series of near-miss incidents and air traffic controller staffing shortages. "The FAA is in desperate need of independent leadership willing to challenge the status quo," said Senator Ted Cruz, the top Republican on the Senate Commerce Committee in a statement to Reuters. He said Whitaker "has expressly committed to focus on the FAA's primary responsibility, which is ensuring the safety of our national aerospace." Reporting by David Shepardson Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Persons: Ted Cruz, Nathan Howard, Joe Biden, Michael Whitaker, Barack Obama, Whitaker, David Shepardson, Bernadette Baum Organizations: U.S . Capitol, REUTERS, Rights, Republican, White House, Federal Aviation Administration, Hyundai, FAA, Senate, Reuters, Thomson Locations: Washington , U.S, KS

In a few cases, according to NHTSA, ARC air bag inflators could be blocked by small pieces of debris, stopping the gases from escaping as they should. In May 2023, General Motors recalled 1 million GM vehicles with the air bags. NHTSA estimated the risk of one of these inflators rupturing at one in every 370,000 air bag deployments. But officials said the only way to know if an air bag has the defect is for it to actually rupture. NHTSA and various automakers are still working to get vehicle owners to replace all the air bags involved in that recall.

Persons: Jacob Tarvis, Marlene Beaudoin, Tarvis, inflators, Kia Optima, General Motors, ”, Donna Glassbrenner, Steve Gold, Gold, “, — Ford Organizations: CNN, Traffic Safety Administration, ARC Automotive, Delphi Automotive Systems, NHTSA, ARC, Chrysler Town &, General, GM, BMW, Fiat Chrysler Automobiles —, Hyundai, Kia, Benz, Porsche, Tesla, Toyota, Volkswagen Locations: United States, Canada, Turkey, Traverse

☆ Hyundai and Kia are the latest to switch to Tesla EV charging
▼ + stars: | 2023-10-05 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +2 min

In 2025, Hyundai will begin providing adapters to owners of older Hyundai models with the Combined Charging System ports their EVs are currently built with. The three South Korean automakers are all part of Hyundai Motor Group, although Hyundai and Kia operate as separate companies in the United States. A major stepThis marks an especially significant development for the Tesla charging system. Counted together, Hyundai, Kia and Genesis would be the second-best-selling EV manufacturer in the United States after Tesla, according to figures from Kelley Blue Book. Having more automakers and charging companies using its standard has been seen as a win for Tesla.

Persons: Tesla, Kelley, Elon Musk Organizations: New, New York CNN, South, Kia, Hyundai, Ford, General Motors, Mercedes, Benz, Nissan, Honda, Hyundai Motor Group, Kona, Niro, Genesis, GM, EV, CCS, Tesla Locations: New York, United States

☆ Hyundai and Kia to adopt Tesla's EV charging tech next year
▼ + stars: | 2023-10-05 | by ( Laya Neelakandan | ) www.cnbc.com time to read: +1 min

Hyundai Motor and Kia announced Thursday they will soon adopt Tesla's electric vehicle charging system, beginning in the fourth quarter of 2024 in the United States. Hyundai and Kia join others like Ford and General Motors to integrate the Tesla charging ports, called North American Charging Standard, into their electric vehicles, allowing drivers to use any Tesla charging stations. The charging tech has gained steam in recent months toward becoming a unified charging standard among electric vehicle makers. "Our collaboration with Tesla marks another milestone in our commitment to delivering exceptional EV experiences to our customers," said José Muñoz, president and global COO of Hyundai. Additionally, owners of current Hyundai and Kia electric vehicle models will be able to access Tesla Superchargers using adapters beginning in the first quarter of 2025.

Persons: Tesla, José Muñoz, Mary Barra Organizations: Hyundai Motor, Kia, Hyundai, Ford, General Motors, South Korean, Hyundai EV Locations: United States, U.S, Canada, Mexico, North America

☆ Toyota, LG Energy Solution sign $3 billion battery supply deal in U.S. EV push
▼ + stars: | 2023-10-05 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

The deal will support Toyota's expanding battery EV line-up, which includes a new model that will be assembled at a manufacturing plant in Kentucky — its largest globally — starting in 2025. LG Energy Solution also supplies other automotive giants such as America's General Motors , South Korea's Hyundai, and Japan's Honda . Less than five months ago, LG Energy Solution said it will build a $4.3 billion EV battery plant in the U.S. with Hyundai, in a bid to leverage tax credits. LG Energy Solution will invest about 4 trillion Korean won ($3 billion) "to establish new production lines for battery cells and modules exclusively for Toyota, with completion slated for 2025." Chinese competitionLG Energy Solution is currently the world's third-largest EV battery producer after Chinese EV player BYD, according to data from South Korean energy market research firm SNE Research.

Persons: Youngsoo Kwon, Kwon, Toyota's, Japan's Organizations: Korea's LG Energy, Toyota, LG Energy, CNBC, America's, Motors, Hyundai, Japan's Honda, U.S, Lexus, LG, EV, BYD, SNE Research Locations: U.S, Kentucky, Toyota's Tokyo

Toyota logo is seen at a Toyota Society Motors showroom in Karachi, Pakistan, July 27, 2022. LGES will invest $3 billion in its Michigan battery facility to supply Toyota exclusively. LGES also is a partner with General Motors (GM.N) in the Ultium battery joint venture, which is building a separate $2.1 billion plant in Lansing, Michigan to supply GM's electric vehicles. LGES will supply Toyota with 20 gigawatt-hours of high-nickel NCMA battery modules annually from the South Korean company's Michigan facility. The battery maker will establish new production lines in Michigan for pouch-type battery cells and modules for Toyota.

Persons: Akhtar Soomro, LGES, Shivansh, Shilpi Majumdar, Cynthia Osterman Organizations: Toyota, Toyota Society Motors, REUTERS, LG Energy, General Motors, Hyundai, Honda, Panasonic, Prime Planet Energy & Solutions, Korean company's, Thomson Locations: Karachi, Pakistan, KS, U.S, Michigan, Lansing , Michigan, North Carolina, Korean company's Michigan, Bengaluru

☆ Tesla's new, cheaper Model Y is one of the best deals you can get on an EV right now
▼ + stars: | 2023-10-04 | by ( Tim Levin | ) www.businessinsider.com time to read: +3 min

Tesla launched a new, cheaper version of its popular Model Y SUV. The rear-wheel-drive Model Y costs $43,990. Elon Musk's carmaker quietly launched a new base model of its popular Model Y SUV — and it's instantly one of the best deals on the US electric-vehicle market. A new rear-wheel-drive Model Y appeared on Tesla's website on Monday with a price of $43,990. The next cheapest Model Y costs $50,490.

Persons: Tesla, —, Elon Musk's carmaker, it's, Kelley, Bolt, Kia Niro, Kia haven't Organizations: Service, Chevrolet Bolt, Nissan, RWD, Kia, Hyundai Kona EV, VW, Hyundai

☆ US new vehicle sales jump in third quarter as UAW strike casts shadow
▼ + stars: | 2023-10-03 | by ( Nathan Gomes | ) www.reuters.com time to read: +2 min

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsOct 3 (Reuters) - Top global automakers on Tuesday reported a rise in U.S. new vehicle sales for the third quarter, buoyed by resilient demand for latest models and improved supplies. EV sales jumped 28% in the third quarter from the preceding quarter, the company said. Meanwhile, Asian brands posted strong gains in the quarter. Toyota Motor Corp (7203.T) posted a 12.2% rise in third-quarter U.S. sales. However, the South Korea-based automaker said rising interest rates "make it very, very challenging for consumers to purchase a vehicle."

Persons: Andrew Kelly, Tesla, Nathan Gomes, Joseph White, Sriraj Organizations: GMC, General Motors Company, REUTERS, General Motors Co, EV, United Auto Workers, UAW, Detroit Three, GM, Motor, Toyota Motor Corp, Kia, Hyundai, U.S, Reuters, Monday, Thomson Locations: Queens , New York, U.S, KS, South Korea, Bengaluru, Detroit

☆ GM third-quarter US sales surge 21% on resilient demand for SUVs, pickups
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: +1 min

The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsOct 3 (Reuters) - General Motors Co's (GM.N) third-quarter U.S. auto sales jumped about 21%, the company said on Tuesday, fueled by improved supply and sustained demand for its SUVs and pickup trucks. The Detroit automaker's quarterly sales rose to 674,336 vehicles, from 555,580 vehicles a year earlier. Rival Toyota Motor Corp (7203.T) reported a 12.2% rise in third-quarter U.S. auto sales. While it did not address the impact of the latest strike, a 40-day UAW strike in 2019 led to a 6% fall in sales in the fourth quarter of that year and cost the automaker $3.6 billion.

Persons: Rebecca Cook, General Motors, Nathan Gomes, Sriraj Organizations: General Motors, REUTERS, General, Detroit, U.S, Rival Toyota Motor Corp, Kia, Hyundai, United Auto Workers, UAW, Detroit Three, GM, Thomson Locations: Detroit , Michigan, U.S, KS, Bengaluru

DETROIT (AP) — Automakers posted big increases in new vehicle sales during the summer, despite high prices, rising interest rates and even a limited strike against Detroit companies. Industry sales rose 16.3% from July through September as consumer demand stayed strong, even given an average new vehicle loan rate of 7.4% and an average vehicle price of more than $45,500. Vehicle supplies also continued to recover from shortages of computer chips and other parts that began during the pandemic and are finally abating. General Motors posted a 21.2% increase, while Toyota sales rose 12.2%. Kia sales rose 13.8%.

Persons: ”, Ivan Drury, Drury, General Motors, Power, Ford Organizations: DETROIT, Detroit, Industry, Federal Reserve, General, Toyota, Honda, Nissan, Hyundai, Kia, Ford, Analysts, United Auto Workers, General Motors, Stellantis Locations: U.S

☆ Samsung to manufacture chips from AI chip startup Tenstorrent
▼ + stars: | 2023-10-02 | by ( Max A. Cherney | ) www.reuters.com time to read: +2 min

REUTERS/Yves Herman/File Photo Acquire Licensing RightsOct 2 (Reuters) - Samsung's contract chip manufacturing arm picked up a new artificial intelligence chip customer, a Canadian startup called Tenstorrent, the company said on Monday. Tenstorrent is among a number of startups looking to challenge Nvidia (NVDA.O), which dominates the market for AI chips. As part of the deal, Tenstorrent plans to use one of Samsung's advanced manufacturing processes, known as 4nm, to produce the chips. The chip Samsung will manufacture is named Quasar, and is not based on RISC-V technology. The chip deal follows a Samsung investment in Tenstorrent in August as part of a $100 million capital raise that included Hyundai Motor Co (005380.KS) and others.

Persons: Yves Herman, Tenstorrent, Jim Keller, Max A, Leslie Adler Organizations: Samsung, REUTERS, Nvidia, Intel, Micron Devices, Hyundai Motor Locations: Brussels, Diegem, Belgium, Canadian, Tenstorrent, San Francisco

Mining operations account for some 4%-7% of global greenhouse gas emissions, according to global consulting firm McKinsey & Company. But some miners are moving to reduce use of fossil fuels in extracting and refining, partly due to pressure from downstream customers that want more sustainable supply chains. Located beside a crystal-blue lake in the lush jungle of Sorowako, South Sulawesi, Vale Indonesia — a subsidiary of Vale international — runs its smelters entirely from hydroelectricity. Other companies and countries around the world also are reducing use of fossil fuels in their mining operations. But now, having that infrastructure means big savings at a time when global energy prices are high.

Persons: Michael Goodsite, “, Joko Widodo, Widodo, “ Ford, ” Christopher Smith, Febriany Eddy, Eddy, it’s, ” Eddy, Aimee Boulanger, there’s, they’ve, ” Goodsite Organizations: McKinsey & Company, Vale, Companies, University of Adelaide, Volvo, Mercedes, Hyundai, Apple, Ford Motor Co, Vale Indonesia, Associated Press, Initiative for, Mining Assurance, —, AP Locations: SOROWAKO, Indonesia, Indonesian, Sulawesi, Sorowako, South Sulawesi, Indonesia —, Chile, Raglan, Canada, Australia, ” Indonesia, Vale Indonesia, China, United States

☆ Why there's never a good place to put your pocketbook in a car
▼ + stars: | 2023-09-30 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

CNN —When a woman gets in the driver’s seat of a car she often faces a challenge. While there are holders for cups, keys and even cell phones, there’s rarely a good place to put a purse or handbag. Courtesy VolvoWith no central tunnel, some EVs like the Hyundai Ioniq 6, simply have a very large space underneath the center console. The EX30 EV has a center console with sections that slide, move and open to create spaces that can easily fit larger or smaller bags. It’s underneath a portion of the center console that projects outward over it like a cliff ledge.

Persons: It’s, satchel, ’ ”, Ryan Nagode, Taryn Dyle, “, ”, Lisa Reeves, ” Dyle Organizations: CNN, Getty, Chrysler, General Motors, Pacifica Pinnacle, Nissan, Volkswagen Atlas, Lincoln, Volvo, Hyundai

☆ The world needs cheap electric cars. That spells trouble for Big Auto
▼ + stars: | 2023-09-29 | by ( Hanna Ziady | ) edition.cnn.com time to read: +10 min

The world needs affordable EVs more than ever as electric cars will play a big role in hcelping countries cut planet-heating pollution. “When legacy [carmakers] talk about catching up to Tesla or catching up to the leading Chinese automakers, it’s difficult. It is by far the world’s biggest EV battery manufacturer and dominant in the supply and processing of many critical components needed to make the batteries. Global automakers have had little choice but to enter into joint ventures with Chinese EV and battery manufacturers. EU lawmakers have voiced concerns that government subsidies allow Chinese EV makers to keep prices artificially low, creating unfair competition for European rivals.

Persons: Henry Ford’s, carmaking, Jeff Kowalsky, ”, Gene Munster, Tesla, — Tesla, —, Patrick Hummel, Krisztian Bocsi, Ford, “ It’s, ” Dan Ives, Bill Pugliano, Daniel Röska, Bernstein, China …, Marco Rubio, “ They’re, Bill Ford, CNN’s Fareed Zakaria Organizations: London CNN —, Ford Motor Company, Toyota, Volkswagen, United, Getty, Deepwater Asset Management, Volkswagen Group, Audi, Porsche, Chrysler, Jeep, Ford, General Motors, International Energy Agency, Honda, Renault, Nissan, Mitsubishi, Hyundai, Kia, Benz, BMW —, Investment, UBS, EV, Atlas Public, VW, Bloomberg, Reuters, Twitter, Stellantis, Wedbush Securities, CNN, United Auto Workers, Refining, Global, Republican, European Union, EU, Jato Dynamics Locations: Europe, United States, Dearborn , Michigan, AFP, China, Japan, South Korea, Asia, US, Germany, ” Munster, Munster, Lansing , Michigan, Michigan, Beijing, America

☆ Not only is your Kia or Hyundai surprisingly easy to steal — it might also catch fire
▼ + stars: | 2023-09-29 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Kia and Hyundai are recalling 3.3 million cars and telling drivers to park outside due to fire risks. Kia and Hyundai thefts have soared after videos exposing security flaws in some models went viral. AdvertisementAdvertisementKia and Hyundai drivers have had a rough run in recent years. AdvertisementAdvertisementThe recall extends over a range of different Kia and Hyundai models, released between 2010 and 2017. Per the NHTSA, more than 3,000 Hyundai and Kia vehicles have caught fire in that time, injuring 103 people, and killing one.

Persons: —, Kia Organizations: Kia, Hyundai, Service, Traffic Safety Administration, Consumer Locations: South Korea

☆ Automakers say they face $14 billion in fines from Biden's 'unfeasible' fuel rules
▼ + stars: | 2023-09-29 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

The fines would impact one in every two light trucks and one in every three passenger cars in 2027-2032, the group added. A separate document viewed by Reuters said the Detroit Three - GM, Ford Motor (F.N) and Chrysler-parent Stellantis (STLAM.MI) - would face about $10 billion in CAFE fines in that period. A NHTSA spokesperson said the estimate cited by automakers represents the agency forecast and is "consistent with our statutory obligations". In June, Reuters reported Stellantis and GM paid a total of $363 million in CAFE fines for failing to meet U.S. fuel economy requirements for prior model years. The record-setting penalties include $235.5 million for Stellantis for the 2018 and 2019 model years and $128.2 million for GM covering 2016 and 2017.

Persons: Jose Luis Gonzalez, Biden, David Shepardson, Barbara Lewis Organizations: REUTERS, Rights, Alliance, Automotive Innovation, General Motors, Toyota, Volkswagen, Hyundai, Traffic, Reuters, Detroit, Ford Motor, Chrysler, European Union, NHTSA, GM, Thomson Locations: Texas, Ciudad Juarez, Mexico

☆ Trump is attacking electric vehicles. Automakers already bet their future on them
▼ + stars: | 2023-09-28 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +8 min

Legacy automakers are pivoting to electric vehicles in response to expected strong consumer demand, tougher environmental regulations both from US states and foreign countries, and a push from Wall Street. Electric vehicles have outpaced growth of traditional internal combustion engine (ICE) cars in recent years. But automakers bucked Trump and agreed to meet tougher standards set by California rather than the Trump administration’s rules. At a Detroit battery plant Wednesday, Trump said America didn’t need what the factory produced“This plant, we just walked through this plant and the electric vehicles are gonna put [automakers] out of business,” Trump said. Trump’s proposals could undermine US companies’ EV investments and hand over control of an increasingly EV future to foreign manufacturers.

Persons: Donald Trump, Donald Trump’s, “ don’t, Trump, ’, ”, Barry Rabe, EVs, Brian Kemp, Ford, Rabe, Biden’s, Tesla, Jon McNeill, McNeill, ” McNeill, EVs Trump, bucked Trump, ” Trump, “, Biden, Rishi Sunak, Lisa Brankin Organizations: New, New York CNN, Detroit, Cox Automotive, Biden, Environmental Protection Agency, University of Michigan, Hyundai, Kia, EV upstarts, Republican Gov, Environmental Defense Fund, Nissan, Mercedes, Benz, Wall, Investors, ICE, General Motors, GM, Biden’s EV, Legacy, DVx Ventures, Tesla, Obama, Trump, America, ” Ford, Fiat, Peugeot Locations: New York, Georgia, South Carolina, Alabama, United States, California, Detroit, Michigan, China

☆ Hyundai and Kia warn of potential fires in 3.3 million vehicles
▼ + stars: | 2023-09-27 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

The recall covers 1.64 million Hyundai models including 2012 through 2015 Hyundai Accents, 2011 through 2015 Elantras and 2011-2015 Genesis coupes. Hyundai and Kia are both part of the Hyundai Motor Group and their vehicles frequently share engineering. Kia and Hyundai owners are being advised to check NHTSA’s website to see if their specific vehicle is involved in this, or any, recalls. In 2022, owners of 500,000 Kia and Hyundai vehicles were also warned to park outside because a problem with anti-lock brake control electronics. In 2020, Kia recalled 295,000 vehicles because they could catch fire while driving because of fuel leaks.

Persons: they’re, Kia, Elantras, Sorentos Organizations: CNN, Hyundai, Kia, National, Traffic Safety Administration, NHTSA, Hyundai Motor Group Locations: United States

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