DIRS.INFO The most relevant business & tech news

☆ Brothers found guilty of spying for Russia in Sweden
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +1 min

STOCKHOLM, Jan 19 (Reuters) - A Swedish court on Thursday found a former security services and armed forces employee and his younger brother guilty of spying for Russia' foreign military intelligence agency over the past decade. Swedish citizens Peyman Kia, 42, and Payam Kia, 35, were detained last year and had denied all the allegations. The pair were convicted of aggravated espionage and the older brother was also found guilty of the unauthorised handling of classified information. The court sentenced the older brother to life imprisonment and the younger brother to a term of nine years and 10 months. Reporting by Anna Ringstrom and Marie Mannes; Editing by Terje Solsvik and Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.

☆ I drove electric SUVs from Kia, Hyundai, and Tesla — and I see why the Korean brands are gaining on Elon Musk
▼ + stars: | 2023-01-18 | by ( Tim Levin | ) www.businessinsider.com time to read: +4 min

The Kia EV6 and Hyundai Ioniq 5 are some of the trendiest new electric vehicles challenging Tesla. The trendy Korean SUVs are stylish, fun, and technologically advanced — and are making trouble for Tesla's Model Y. The 2022 Hyundai Ioniq 5. The 2022 Kia EV6. The Tesla Model Y. Tim Levin/InsiderPlus, they drive greatThe Model Y accelerates like nobody's business and takes turns like a sports car.

☆ Teslas are finally getting cheaper. It's a sign Elon Musk's back is against the wall.
▼ + stars: | 2023-01-16 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Tesla cutting prices by up to 20% on its models in a sign of trouble for Elon Musk. Interest rate hikes have also increased the costs of financing the purchase of a Tesla, making it harder for consumers already battered by inflation to make the switch. Moores added that when it comes to demand, "backlog orders have come down significantly for Tesla," making price cuts is "a good way to increase the immediate- and medium-term sales pipeline". Price cuts will of course be welcomed by consumers. Wedbush's Ives estimates that "all together these price cuts could spur demand" by 12-15% globally in 2023.

☆ Nadal launches title defence as Australian Open ushers in new era
▼ + stars: | 2023-01-15 | by ( Ian Ransom | ) www.reuters.com time to read: +3 min

MELBOURNE, Jan 15 (Reuters) - Rafa Nadal will kick off his Australian Open title defence on Monday with a first round test against rising Briton Jack Draper as a new era begins on the blue hardcourts of Melbourne Park. The top seed has had only one win since September's U.S. Open and admitted his title defence was vulnerable to an early shock after two straight defeats in the lead-up. The reigning French and U.S. Open champion opens her campaign against Jule Niemeier in the first evening match at Rod Laver Arena, the German who gave Swiatek a huge scare in the U.S. Open fourth round. With American tennis looking for a new champion in the post-Serena era, Coco Gauff will open the day session at Rod Laver Arena against Czech Katerina Siniakova. Medvedev, the men's seventh seed, will return to the scene of last year's final heartbreak when he faces unseeded American Marcos Giron in the late match at Rod Laver Arena.

☆ Car makers like Ford and GM are increasing loan payments, while some rivals are keeping costs down
▼ + stars: | 2023-01-15 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

Between March 2020 and December 2022, average monthly loan payments jumped about 29%, according to Dealertrack data Chesbrough shared. "Not everybody has risen their monthly payments in quite the amount." Alfa Romeo, Mini, Subaru, Jaguar, Audi, Kia, Mercedes-Benz, Infiniti, Toyota, and Genesis, made up the 10 brands with the lowest increases in their average monthly loan payments over the same period. Toyota was one of the 10 brands with the lowest increase in their average monthly loan payments since the pandemic began. "We think that there's really not going to be enough demand there at these high prices," Chesbrough said.

☆ Don’t Write Off Tesla as America’s EV Market Booms
▼ + stars: | 2023-01-13 | by ( Stephen Wilmot | ) www.wsj.com time to read: 1 min

Tesla ‘s price cuts and the chaotic implementation of President Biden’s new tax credits for electric vehicles obscure a bigger picture: The shift to EVs in America is getting serious. If you’re looking to buy an EV, chances are you’re confused by the new subsidy regime. Investors trying to understand which manufacturers will benefit might feel in a similar position. Could the credits give Tesla a break from its recent run of bad news? Will they disrupt the recent gains of the Korean brand Hyundai and its affiliate Kia ?

☆ I've driven 19 electric cars. Here are 4 reasons you should consider buying one (that have nothing to do with the environment).
▼ + stars: | 2023-01-10 | by ( Tim Levin | ) www.businessinsider.com time to read: +4 min

I've driven electric cars from Tesla, Audi, Porsche, Hyundai, Kia, Volkswagen, Rivian, and more. EVs are quick, fun, and quietThe 2022 Kia EV6 GT-Line. Tim Levin/InsiderAlmost all EVs, from budget Chevys to sporty Audis, have more pep in their step than comparable gas cars. The 2022 Kia EV6. Tim Levin/InsiderSince electric cars lack bulky components like an engine and transmission, automakers enjoy lots of flexibility to add extra interior room for people and stuff.

☆ 2023 Kia EV6 GT: Fast, Furious, Almost as Good as Tesla
▼ + stars: | 2023-01-06 | by ( Dan Neil | ) www.wsj.com time to read: 1 min

NEED FOR SPEED The performance-enabled version of Kia’s EV6 is the 2023 EV6 GT, with an available 576 hp and 545 lb-ft entrained in the dual-motor all-wheel drive system. Car and Driver recorded 0-60 mph acceleration in 3.2 seconds for the GT, which is quicker in their testing than the Porsche Taycan 4S or Ford Mustang Mach-E GT Performance. IF THERE IS one rule that people infallibly remember from driver’s ed, it’s that a yellow traffic light means “clear the intersection.” My wife, Tina, has a particularly expansive interpretation of “yellow,” I’ve noticed, exercising her right-of-way at intersections unto the last millisecond of amber, while I watch through my fingers. It’s for these moments, and drivers, that Kia has purposed the 2023 EV6 GT, a low-volume, time-dilating variant of the company’s chic electric crossover.

☆ Automakers are cautiously optimistic for a 2023 rebound after worst new vehicle sales in more than a decade
▼ + stars: | 2023-01-06 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT — Automakers are hopeful last year's new vehicle sales — the worst in more than a decade — will mark a bottom for the market, at least in the near term. Toyota Motor was down 9.6%, while Stellantis , Nissan and Honda Motor posted double-digit falls of 13%, 25% and 29.4%, respectively. But auto industry executives remain cautiously optimistic that sales will rebound in 2023, regardless of recessionary fears, rising interest rates and other economic concerns. Toyota and GM said they expect U.S. auto sales to increase to about 15 million vehicles this year. S&P Global Mobility and Edmunds expect 2023 new U.S. vehicle sales to be 14.8 million, while Cox Automotive's preliminary forecast is 14.1 million.

REUTERS/Kim Hong-JiSEOUL, Jan 3 (Reuters) - South Korea's Hyundai Motor Co (005380.KS) and affiliate Kia Corp (000270.KS) forecast on Tuesday that their combined global sales will jump nearly 10% in 2023, even as last year's sales fell short of target due to supply chain disruptions. The companies sold 6.85 million vehicles in 2022, about 4% less than their combined target of 7.16 million vehicles, largely due to problems including chip and component shortages. They said they would target global sales of 7.52 million vehicles this year. Shares of Hyundai Motor and Kia closed up 1.3% and 1.5% respectively, versus a 0.3% fall in the benchmark market KOSPI (.KS11). In October, Hyundai Motor cut its 2022 global sales target by about 7% to 4.01 million vehicles from 4.32 million vehicles.

☆ See the 7 coolest electric SUVs coming in 2023, from the beastly Hummer to the budget-friendly Chevy Equinox
▼ + stars: | 2022-12-31 | by ( Tim Levin | ) www.businessinsider.com time to read: 1 min

Unfortunately, the production version probably won't look quite as interesting as the original design. But Kia's striking EV6 model shows the brand is down to break from the norms of car design. The concept Kia EV9.

"Lizzo: Live in Concert" showcases the award-winning artist performing on stage during her "Special" tour. "Lizzo: Live in Concert" is a new music special set to stream exclusively on HBO Max. Check out the trailer for 'Lizzo: Live in Concert'"Lizzo: Live in Concert" was filmed in November 2022 at the Kia Forum in Inglewood, CA. How to watch 'Lizzo: Live in Concert'You can watch "Lizzo: Live in Concert" on HBO Max starting December 31. Though HBO Max doesn't offer a free trial directly, you can watch "Lizzo: Live in Concert" for free if you sign up for HBO Max through Prime Video.

☆ I've driven 15 different electric cars this year — these are the 3 I'd buy (if I was rich)
▼ + stars: | 2022-12-30 | by ( Tim Levin | ) www.businessinsider.com time to read: +5 min

My three favorites were the Hyundai Ioniq 5, Rivian R1S, and Porsche Taycan Cross Turismo. The Hyundai Ioniq 5The 2022 Hyundai Ioniq 5 Limited AWD. The Porsche Taycan Cross TurismoThe 2022 Porsche Taycan Cross Turismo Turbo S. Tim Levin/InsiderThe Taycan Cross Turismo is Porsche's totally badass electric station wagon. The Taycan Cross Turismo showed me why the German brand has been the poster child of impeccable driving dynamics for decades. The Taycan Cross Turismo starts at $97,700, $11,000 more than the regular Taycan sedan.

☆ With New EVs Arriving, Brand Loyalty Goes Out the Window
▼ + stars: | 2022-12-28 | by ( Sean Mclain | ) www.wsj.com time to read: 1 min

As more car makers roll out electric vehicles, they are discovering an important trait among early customers: They are far more apt to try new brands. Nearly 80% of people who bought Kia Corp.’s EV6 electric crossover since it went on sale early this year traded in something other than a Kia, according to research site Edmunds, compared with 61% for all its models. More than two-thirds of Ford Mustang Mach-E electric sport-utility buyers had non-Ford trade-ins, compared with Ford’s 42% brand-wide average, according to the Edmunds data.

☆ Use this calculation to find the best used car for your money — plus 10 models that come out on top
▼ + stars: | 2022-12-27 | by ( Jessica Dickler | ) www.cnbc.com time to read: +4 min

The report then ranked those models based on the cost per remaining mile calculation to determine which used cars are the best deal. The 10 best used cars for the moneyIn the No. Overall, five Toyotas made the top 10 list of best 5-year-old used cars for the money, also including the Camry, Corolla and Avalon. He offered these five tips for anyone in the market for a used car. Being "basic" has its benefits: Going with widely popular models has an added advantage when it comes to buying a used car, Drury said.

☆ Electric vehicle sales hit a tipping point in 2022
▼ + stars: | 2022-12-27 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

Bloomberg includes plug-in hybrids in its count of “electric vehicles,” but a large majority are purely battery-powered models. It’s unclear exactly why 5% seems to mark the point where EV sales really take off. The Mustang Mach-E, which hit the market in in 2021, was the first electric vehicle to take a notable chunk of Tesla’s still-dominant EV market share. The act, passed this year, changes the rules around which electric vehicles are eligible for consumer tax credits. Given their popularity and already high sales, incentive rules could help push EV sales significantly higher.

If you're on the fence about electric vehicles, Josh Aviv wants to alleviate one of your top concerns: "range anxiety." That's the nervous feeling EV owners or prospective buyers get when they're concerned that their electric vehicle won't have enough battery power to reach its destination. There are currently more electric vehicles on the road than ever before — with a record 6.6 million sold in 2021, double the previous year's total. SparkCharge has raised roughly $30 million from investors like Mark Cuban, Tale Venture Partners and rapper Pusha-T. The investments currently value SparkCharge at about $110 million, Aviv says.

☆ Why Chicago, the U.S.'s Busiest Railroad Hub, Is So Vulnerable to Strikes
▼ + stars: | 2022-12-19 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

Kia’s New Branding Strategy Looks to Compete in the EV Era Kia overhauled its look in 2021 in the hopes of cultivating a more upmarket image as electric vehicles take center stage in the industry. The Wall Street Journal breaks down Kia’s efforts to change consumers’ perceptions of the brand. Illustration: Ryan Trefes

☆ Child workers found throughout Hyundai-Kia supply chain in Alabama
▼ + stars: | 2022-12-16 | by ( ) www.reuters.com time to read: +16 min

Hyundai and Kia now have dozens of suppliers in Alabama, according to the Economic Development Partnership of Alabama, a business group. The agency, they said, hired underage workers while they worked there. “It was my first job in the United States and this is not what you would expect to see here.”Six other former workers told Reuters they, too, saw underage workers at Ajin’s two factories in Cusseta. Herrera said he raised concerns about the underage workers with managers at SMART, but was brushed off. The officials, wearing shirts that bore Hyundai logos, inspected the assembly line even as underage workers labored there, Herrera said.

☆ Review: The $38,000 Kia Sorento Hybrid 3-row SUV is the affordable, stylish way to stop stressing about gas
▼ + stars: | 2022-12-15 | by ( Alanis King | ) www.businessinsider.com time to read: +8 min

The Kia Sorento Hybrid, a traditional hybrid SUV, starts at $36,590 for the 2023 model year. The Kia Sorento Hybrid: The perfect middle ground for our electric futureThe Sorento is Kia's midsize SUV that comes in both front- and all-wheel drive. The Kia Sorento Hybrid. Here's how all the powertrains compare on fuel efficiency in combined city-highway driving, according to the EPA:Kia Sorento (gas only, FWD): 25 to 26 mpg combined25 to 26 mpg combined Kia Sorento (gas only, AWD): 24 mpg combined24 mpg combined Kia Sorento Hybrid (FWD): 37 mpg combined37 mpg combined Kia Sorento Hybrid (AWD): 35 mpg combined35 mpg combined Kia Sorento Plug-In Hybrid (AWD only): 79 mpg-e with electricity, 34 mpg without(The numbers listed above are for the 2022 model year, because the EPA doesn't have all the numbers for 2023 yet.) The Kia Sorento Hybrid.

☆ Electric cars are shredding the brand loyalty automakers have spent decades building up — and it's great news for Kia and Hyundai
▼ + stars: | 2022-12-14 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

Ford, Hyundai, and Kia have EVs bringing in the most new customers. GM CEO said 40% of customers purchasing GM EVs are new to the company. Car companies looking to conquest buyers to a brand can end up spending billions of dollars on new ad campaigns and R&D efforts to revamp their image, only to see meager or temporary shifts in loyalty. In remarks to journalists last week, GM CEO Mary Barra said 40% of GM's EV buyers are new to the company. GM is currently playing a long game with EV customers to drum up new loyalty with a call center for all electric vehicle drivers and shoppers.

☆ U.S. senator Manchin says Treasury should limit commercial EV tax credit use
▼ + stars: | 2022-12-13 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

Senator Joe Manchin, a Democrat who chairs the chamber's energy panel, asked the Treasury Department on Tuesday not to allow a commercial electric vehicle tax credit to be used for consumer leasing, rental cars or ridesharing vehicle sales, rejecting a broad interpretation of the credit. Reuters first reported last week the push by South Korea and some automakers that asked the Treasury Department to allow use of the commercial electric vehicle tax credit to boost consumer EV access as well as for the purchase of ride share and rental car vehicles. The $430 billion U.S. Inflation Reduction Act (IRA) passed in August ended $7,500 consumer tax credits for electric vehicles assembled outside North America, angering South Korea, the European Union, Japan and others. The commercial credit known as "45W" does not, however, have the sourcing restrictions of the consumer credit called "30D." Hyundai (005380.KS) and Kia (000270.KS) want the U.S. Treasury to allow people leasing EVs to benefit from commercial credits and to qualify for up to a $4,000 tax credit for used EVs if they buy vehicles when leases expire.

Car buyers are watching the clock tick down for the Inflation Reduction Act’s updated electric vehicle tax incentives to kick in. If you shop right nowState and federal EV incentives already exist. Their car was built in Tennessee and qualified for the full $7,500 federal tax credit, which they were able to combine with a Massachusetts EV tax exemption of $2,500, effectively knocking $10,000 off the price. Plus, caps on how many vehicles can qualify for existing tax incentives have kept some buyers on the sidelines. If you shop in 2024After next year, the IRA makes an important change to how consumers apply their tax credit.

☆ Kia’s New Branding Strategy Looks to Compete in the EV Era
▼ + stars: | 2022-12-12 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

Why Your Bank’s Savings Rate Isn’t Increasing With the Fed’s The Federal Reserve’s interest rate continues to climb, reaching nearly 4% in November. But the average savings account’s interest rate is just 0.16%. Here’s how banks determine that rate — and which accounts are paying closer to the Fed’s. Illustration: Adele Morgan

☆ Automakers, South Korea urge U.S. to tap commercial EV tax credit
▼ + stars: | 2022-12-07 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

Rivian Automotive (RIVN.O), Hyundai Motor (005380.KS) and Kia Corp (000270.KS) among others want the administration to let consumer vehicle leasing qualify for the commercial EV tax credit that could reduce monthly lease payments. South Korea also asked Treasury not to impose any budget restrictions on commercial vehicle tax credits through 2025. The commercial credit does not have the same sourcing or pricing restrictions but has an "incremental cost" eligibility test that might prove complex. Some automakers want Treasury to make it easier to ensure most commercial light-duty vehicles qualify for $7,500 tax credits. Tesla (TSLA.O)said commercial credits "should apply exclusively for commercial end-users" and the consumer tax credit "should apply exclusively for individual end-users."

Search resuls for: "Kia"

25 mentions found