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☆ White House welcomes Tesla to take advantage of federal dollars
▼ + stars: | 2023-06-09 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +5 min

June 9 (Reuters) - The White House on Friday said electric-vehicle charging stations using Tesla (TSLA.O) standard plugs would be eligible for billions of dollars in federal subsidies as long as they included the U.S. charging standard connection, CCS, as well. Tesla shares rose as much as 7.5% on Friday but pared gains to close 4.1% higher at $244.40. Analysts said the Ford and GM news was a big win that could make Tesla Superchargers an industry standard in the United States. GM and Ford shares closed up 1.1% and 1.3%, respectively. Musk on Friday said in a tweet it would be "ideal" for Tesla chargers to need only CCS adapters to meet federal charging standards.

Persons: Biden, Tesla, Robyn Patterson, Patterson, Tesla's, Sam Houston, Danni Hewson, AJ Bell, Blink, Jonathan Levy, ChargePoint, Musk, Jarrett Renshaw, Hyunjoo Jin, Abhirup Roy, Chavi Mehta, Bhanvi, Sayantani Ghosh, David Gaffen, Peter Henderson, Matthew Lewis Organizations: U.S, Ford Motor, General Motors, American, CCS, Ford, GM, EV, Reuters, Volkswagen, Hyundai Motor, Kia, Union of Concerned, Tesla, Elon, Thomson Locations: United States, Philadelphia, San Francisco, Bengaluru

☆ Tesla stock charges upwards on deal with GM
▼ + stars: | 2023-06-09 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

Both Ford and GM EV drivers will, for now, need special adapters to allow their vehicles to use Tesla chargers. Tesla’s charging system had been proprietary and only usable by Teslas – although Teslas could use CCS chargers with an adapter. But CEO Elon Musk announced in late 2022 that he was inviting other automakers and charging companies to use Tesla’s charging system and design standards. Tesla’s NACS chargers outnumber CCS chargers in the United States by a factor of two to one, according to Tesla. Other automakers, such as KIa, Hyundai, BMW, Mercedes and Volkswagen, still use the CCS charging standard and have not announced any plans to change.

Persons: CNN — Tesla, ”, Gary Silberg, –, Elon Musk, Mary Barra, Sam Abuelsamid, Tesla, Justin Sullivan, Guidehouse’s, KPMG’s Silberg, Abuelsamid, Musk, GM’s Organizations: CNN, General Motors, Ford, GM EV, Tesla, KPMG, GM EVs, Guidehouse, CCS, GM, GM’s Chevrolet, Cox Automotive, KIa, Hyundai, BMW, Mercedes, Volkswagen Locations: United States, CALIFORNIA, San Rafael , California, North America

☆ New York City files lawsuit blaming Hyundai, Kia for 'spiraling epidemic' of car thefts after 'Kia boys' viral TikTok thefts cause spike in stolen cars
▼ + stars: | 2023-06-08 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +6 min

New York City joins a growing list of cities and states taking legal action against Kia and Hyundai. New York City has joined a growing list of cities and states to take legal action against Hyundai and Kia. TikTokers have suggested a "hack" to get a Kia or Hyundai car started without the key. In New York City, the suit cited, Kia thefts increased about 241% between 2021 and 2022. Hyundai thefts similarly increased by 179%.

Persons: Kia, Kias, Louis, Hyundais, TikTokers Organizations: Kia, Hyundai, Morning, Progressive, European Union, America, New York Police Department, Mercedes, Apple Locations: York City, New York City, Cleveland, Milwaukee, San Diego, Columbus, St, Seattle, New York, Canada

REUTERS/Kim Hong-JiNEW YORK, June 6 (Reuters) - New York City on Tuesday sued Hyundai Motor Co (005380.KS) and Kia Corp (000270.KS), accusing the South Korean automakers of negligence and creating a public nuisance by selling vehicles that are too easy to steal. The most populous U.S. city joined several other major cities that have sued Hyundai and Kia over the thefts, including Baltimore, Cleveland, Milwaukee, San Diego and Seattle. In contrast, the city said thefts of BMW, Ford, Honda, Mercedes, Nissan and Toyota vehicles have fallen this year. Last month, Hyundai and Kia reached a $200 million settlement of a consumer class action over the thefts. The case is City of New York v Hyundai Motor America et al, U.S. District Court, Southern District of New York, No.

Persons: Kim Hong, Hyundais, Kias, Kia, Jonathan Stempel, Chris Reese, Jamie Freed Organizations: Hyundai Motors, REUTERS, Tuesday, Hyundai Motor, Kia Corp, South Korean, Hyundai, Kia, BMW, Ford, Honda, Nissan, Toyota, Court, Southern District of, Thomson Locations: Seoul, South Korea, New York City, U.S, Baltimore, Cleveland, Milwaukee, San Diego, Seattle, Manhattan, New York, of New York, Southern District, Southern District of New York

☆ Best cheap car options in 2023
▼ + stars: | 2023-06-07 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +5 min

CNN —You’ve probably seen shocking headlines saying the average price of a new car has reached about $48,000, according to industry analysts like Edmunds.com. The Chevrolet Trax, with a starting price around $20,000, garnered compliments on a recent test drive. The 2023 Kia Rio was rated as the best overall value by Cars.com. “The Nissan Versa [with a manual transmission] is like sixteen and change, and that’s a really, really pretty nice car,” said Quiroga. “But if you’re if you’re willing to persist and stick to your budget, you absolutely can [find a good inexpensive car] if you can keep an open mind.”

Persons: CNN — You’ve, Ford Maverick, Ford “, ”, Tony Quiroga, you’re, Jane Ulitskaya, Kia Rio, Cars.com, Driver’s Quiroga, Zach Gale, ” Gale, Quiroga, Gale, “, it’s Organizations: CNN, Chevrolet Trax, General Motors, Trax, Chevrolet, Ford, Apple, Cars.com, Kia, Android, Ford Maverick XL, Co, MotorTrend’s, Nissan

☆ 'Public nuisance': New York sues Hyundai and Kia, alleging their cars are easy to steal
▼ + stars: | 2023-06-07 | by ( Jihye Lee | ) www.cnbc.com time to read: +2 min

Hyundai Motor Co. vehicles are displayed at the company's Motorstudio showroom in Goyang, South Korea, on Thursday, Oct. 22, 2020. South Korean automakers Hyundai and Kia are being sued for causing a "public nuisance," according to a complaint filed in Manhattan federal court. A viral TikTok challenge started in 2021 and spurred a rise in thefts of Hyundai and Kia cars. New York accused the two companies of enabling "this spiraling epidemic" of car thefts. "Making sure cars are not easy to steal protects both property and the public by keeping dangerous drivers in stolen vehicles off the roads," it said.

Organizations: Hyundai, Co, South Korean, Kia, Chicago, CNBC, of, National, Traffic, Administration Locations: Goyang, South Korea, Manhattan, New York City, Angeles, U.S, Southern, of New York . New York

☆ 10 Things in Tech: Apple's big metaverse push
▼ + stars: | 2023-06-05 | by ( Hallam Bullock | ) www.businessinsider.com time to read: +4 min

This week, Apple is preparing to do what no tech firm has managed yet: make the metaverse cool. Apple is ready to enter its metaverse era, but the rest of the world might not be. Some people think it's unwise to ramp up efforts to push into the metaverse — especially at a time when the metaverse is said to be headed to the industry's graveyard of failed ideas. However, it's also unwise to bet against Apple — a company whose epic feats in tech have earned its leaders cult-like status. It's quick, stylish, and high-tech, Insider's Tim Levin writes, but it falls short in range and cargo space.

Persons: Hallam Bullock, Tim Cook, Stephen Lam, Insider's Hasan Chowdhury, Apple, it's, Patrick O'Neill, Elizabeth Holmes, Lisa Lake, Theranos, Holmes, Read, Elon, Spriha Srivastava, Gray, Kia, Tim Levin, Kia's, Jack Sommers Organizations: Apple, Developers, Bloomberg, Apple —, Starco Brands, Forbes, Getty, Nvidia, Google, Challenger, Wireless, Amazon Prime Locations: London, Theranos, China, Shanghai

☆ I drove Kia's $63,000 electric SUV. It's quick and stylish — but falls short in range and cargo space.
▼ + stars: | 2023-06-02 | by ( Tim Levin | ) www.businessinsider.com time to read: +4 min

I drove Kia's high-performance electric SUV: the 2023 EV6 GT. A super-sporty version of Kia's EV6 series, the 2023 EV6 GT is one of the coolest electric cars I've driven recently — but it isn't perfect. Pro: Impeccable styleThe 2023 Kia EV6 GT. Tim Levin/InsiderThe EV6's saving grace is it offers some of the quickest charging on the electric-car market. Tim Levin/InsiderThe EV6 GT comes loaded with impressive features that make driving it feel safe and convenient.

Persons: Kia, Tim Levin, Kia EV6, Red Bull, oomph, you'll Organizations: Kia, Morning, Tesla, Con, Ford, EV

☆ Billy Joel Will End Madison Square Garden Residency in 2024
▼ + stars: | 2023-06-01 | by ( Ben Sisario | ) www.nytimes.com time to read: +1 min

The roster of special guests has included Bruce Springsteen, Tony Bennett, Olivia Rodrigo and Joel’s daughter Alexa Ray Joel. The residency has continued on a roughly monthly schedule since its inception, aside from an 18-month break during the Covid-19 pandemic, returning in November 2021. According to the trade publication Pollstar, Joel’s residency has played to nearly 1.7 million people through its 89th performance in April, and sold $207 million in tickets. The idea for the residency came about following Celine Dion’s two record-breaking runs in Las Vegas, which started in 2003 and ultimately sold about $660 million in tickets. Last year, for example, Harry Styles played 15 dates at the Garden and, in late 2022 and 2023, another 15 at the Kia Forum in Inglewood, Calif.

Persons: ”, Bruce Springsteen, Tony Bennett, Olivia Rodrigo, Joel’s, Alexa Ray Joel, Celine Dion’s, Joel, “, ” Dennis Arfa, Harry Styles Organizations: MSG, York State, New York Times, Kia Locations: “ Allentown, “, York, Las Vegas, Vegas, ”, Inglewood , Calif

☆ Nearly 4 Million Kia Cars Have Potentially Explosive Air-Bag Inflators, Document Shows
▼ + stars: | 2023-05-31 | by ( Ryan Felton | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones Organizations: kia

The host, Caleb Hammer, said they owed more than $112,000 in loans, credit cards, and car debt. The debts included six credit cards, two car loans, a hospital bill, and buy-now-pay-later spending. Discover credit card: $3,627.68. Citi credit card: $5,039.21. Hammer said he was "scared" for the couple because of their car loans, which represented around 70% of their debt.

Persons: Caleb Hammer, Hammer, Kia, Jessilyn, you've, I'm, we're, Brandon Organizations: Cherokee Overland, Apple, Citi, Capital, Cash American Express, Chase, Bank, Amazon, Apple Watch, Kia, Jeep Locations: Brandon, Springfield , Missouri, DoorDash

☆ Kia, Hyundai Thefts Continue Three Months After Carmakers Deployed Fix
▼ + stars: | 2023-05-30 | by ( Sean Mclain | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/kia-hyundai-thefts-continue-three-months-after-carmakers-deployed-fix-c4351e60

☆ State Farm will no longer offer new home insurance policies in California over wildfire concerns
▼ + stars: | 2023-05-29 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

State Farm said it won't accept new applications for business and personal lines of property and casualty insurance in California. The change won't impact those with personal auto insurance, and current property and casualty insurance holders can still file claims for property that's already covered by State Farm. "Insurance companies prioritize their short-term financial goals, the long-term goal of the Department of Insurance is protecting consumers," California Department of Insurance spokesperson Michael Soller told CNN. Soller continued: "It's important to note that current State Farm customers are not affected, and no non-renewals are being issued as a result of this announcement." "We pledge to work constructively with the CDI and policymakers to help build market capacity in California," Friday's statement from State Farm said.

☆ Hyundai Motor Group, LG Energy to build $4.3 bln EV battery plant in US
▼ + stars: | 2023-05-26 | by ( ) edition.cnn.com time to read: +1 min

South Korea’s Hyundai Motor Group and LG Energy Solution Ltd on Friday said they will build a $4.3 billion electric vehicle (EV) battery plant in the United States amid a push to take advantage of tax credits. Vehicles from Hyundai Motor Co and sister automaker Kia Corp are currently not eligible. Hyundai Motor Group, the world’s third-largest automaker by vehicle sales, is building EV and battery manufacturing facilities in Bryan County in the state, where its joint factory with LGES will be based. LGES and Hyundai Motor Group, which houses Hyundai Motor, Kia and autoparts maker Hyundai Mobis Co Ltd, will each own 50% of the joint venture. In April, Hyundai Motor finalized a $5 billion EV battery joint venture in the United States with SK On, a battery unit of SK Innovation Co Ltd, boosting electrification efforts in its largest market.

Persons: LGES, ”, Youngsoo Kwon Organizations: Hyundai Motor Group, LG Energy, EV, Vehicles, Hyundai Motor Co, Kia Corp, Hyundai, Kia, Hyundai Mobis Co, Tesla, General Motors, Hyundai Motor, SK, SK Innovation Co Locations: United States, Georgia, Bryan County, America

SEOUL, May 26 (Reuters) - South Korea's Hyundai Motor Group and LG Energy Solution Ltd (LGES) (373220.KS) on Friday said they will build a $4.3 billion electric vehicle (EV) battery plant in the United States amid a push to take advantage of tax credits. Vehicles from Hyundai Motor Co (005380.KS) and sister automaker Kia Corp (000270.KS) are currently not eligible. [1/2] The logo of Hyundai Motor Company is pictured at the New York International Auto Show, in Manhattan, New York City, U.S., April 13, 2022. LGES and Hyundai Motor Group, which houses Hyundai Motor, Kia and autoparts maker Hyundai Mobis Co Ltd (012330.KS), will each own 50% of the joint venture. In April, Hyundai Motor finalised a $5 billion EV battery joint venture in the United States with SK On, a battery unit of SK Innovation Co Ltd (096770.KS), boosting electrification efforts in its largest market.

☆ Kia and Hyundai to Pay $200 Million to Settle Viral Car-Theft Suit
▼ + stars: | 2023-05-19 | by ( Alyssa Lukpat | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/kia-and-hyundai-to-pay-200-million-to-settle-viral-car-theft-suit-7321e9fb

WASHINGTON, May 18 (Reuters) - Hyundai Motor (005380.KS) and Kia Corp (000270.KS) agreed to a consumer class-action lawsuit settlement worth $200 million over rampant car thefts of the Korean automakers' vehicles, lawyers for the owners and the automakers said on Thursday. In February, the Korean automakers said they would offer software upgrades to 8.3 million U.S. vehicles without anti-theft immobilizers to help curb increasing car thefts using a method popularized on TikTok and other social media channels. The settlement covers about 9 million U.S. owners and includes up to $145 million for out-of-pocket losses for consumers who had cars stolen, lawyers for the owners said. The consumer settlement covers owners of 2011 through 2022 model year Hyundai or Kia vehicles with a traditional "insert-and-turn" steel key ignition system. Other related expenses including car rental, taxi or other transportation costs not covered by insurance are also included by the settlement.

☆ Kia and Hyundai will pay out millions to people who had their cars stolen in Tik-Tok inspired 'Kia Boys' thefts
▼ + stars: | 2023-05-18 | by ( Chris Panella | Jack Newsham | ) www.businessinsider.com time to read: +3 min

Kia and Hyundai will pay millions to people who had their cars stolen in a Tik-Tok inspired trend. The "Kia Boys" trend involved using a common USB charging cord or metal object to start the car. Kia and Hyundai will pay millions of dollars to people who had their car stolen thanks to a missing antitheft device and a TikTok-inspired trend. It affects owners of certain 2016 to 2021 Hyundai models and certain Kia models made between 2011 and 2021. The spike in theft of the models is partially thanks to a TikTok trend from the "Kia Boyz," which followed people breaking into Kia and Hyundai models only using a screwdriver and a USB cord.

☆ Kia and Hyundai to Pay $200 Million to Settle Suit Over Car Thefts
▼ + stars: | 2023-05-18 | by ( Eduardo Medina | ) www.nytimes.com time to read: 1 min

Kia and Hyundai have agreed to pay about $200 million to settle a class-action lawsuit accusing the manufacturers of producing vehicles that have been especially vulnerable to theft, lawyers for the car owners and the manufacturers said on Thursday. The settlement, which affects the owners of about nine million vehicles, came as the nation contends with a surge in auto thefts fueled in part by videos on TikTok and YouTube that demonstrate the ease in which Kia and Hyundai vehicles can be stolen. Lawyers representing affected vehicle owners said in a news release that the automakers failed to equip several models from 2011 through 2022 with an immobilizer, a common anti-theft device that “prevents most vehicles from being started unless a code is transmitted from the vehicle’s smart key.”

☆ Hyundai and Kia agree to $200 million legal settlement over theft issues
▼ + stars: | 2023-05-18 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +4 min

New York CNN —Korean automakers Kia and Hyundai have agreed to an estimated $200 million class action legal settlement over claims that many of the companies’ cars and SUVs are much too easy to steal. The settlement, which could cover up to nine million vehicle owners, provides a total of up to $145 million that will be distributed to owners whose vehicles have been stolen to help cover their out-of-pocket losses. Hyundai and Kia operate as separate companies in the United States, but Hyundai Motor Group owns a large stake in Kia, and various Hyundai and Kia models share much of their engineering. Hyundai dealers will also affix window stickers stating that the vehicle has anti-theft software installed. As part of the agreement, installation of the anti-theft software will now be done automatically along with any dealer service appointment without the owner having to specifically request it.

☆ Say goodbye to the US car market as we know it: Cheap Chinese EVs are coming
▼ + stars: | 2023-05-16 | by ( Nora Naughton | Tim Levin | ) www.businessinsider.com time to read: +6 min

After years of eyeing the American market, Chinese brands are poised to arrive. After years of preparation, Chinese car companies are poised to upend the US electric-vehicle market. Chinese EV manufacturers can gain a foothold in the US by coming in at a budget price point, analysts said. "I've driven a number of the Chinese EV brands, and boy oh boy, the Europeans are in trouble." The sheer size of the US car market means new entrants will need to build locally to compete seriously in the long term, he said.

☆ I drove the electric Nissan Ariya SUV. It's a strong rival to Tesla, but not as tech-forward and fun to drive.
▼ + stars: | 2023-05-14 | by ( Tim Levin | ) www.businessinsider.com time to read: 1 min

When it comes to styling, the Ariya isn't quite as futuristic looking as a Kia EV6 or Polestar 2, but it isn't boring either. It's stylish and somewhat distinctive, but not over the top. The 2023 Nissan Ariya. Tim Levin/Insider

☆ Automakers find a tax credit loophole to increase EV leasing and boost sales
▼ + stars: | 2023-05-13 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

Buying a used Ioniq, which is produced in South Korea and Indonesia, wouldn't earn him $7,500 off through a federal tax credit. "I ran the numbers — what it would be without the leasing credit and with the leasing credit — and that kind of put me over the top and that was the main thing of why I went in that direction," he said. For a $50,000 EV and a 36-month lease, Chesbrough estimates the full $7,500 tax credit equates to $222 in monthly savings for a consumer. "It also allows them to level the playing field against competitors who get the full tax credit when purchasing." I wouldn't call it leveling the playing field," Watson said of leasing qualifying for the $7,500 tax credit.

☆ U.S. demands recall of 67 million air bag inflators
▼ + stars: | 2023-05-12 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

"Air bag inflators that project metal fragments into vehicle occupants, rather than properly inflating the attached air bag, create an unreasonable risk of death and injury." ARC air bag inflators are in General Motors (GM.N), Chrysler-parent Stellantis (STLAM.MI), BMW (BMWG.DE), Hyundai Motor (005380.KS), Kia Corp (000270.KS) and other vehicles. GM on Friday agreed to recall nearly 1 million vehicles with ARC air bag inflators after a rupture in March resulted in facial injuries to a driver. NHTSA said through January 2018, 67 million of thesubject driver and passenger frontal air bag inflators. Over the last decade, more than 67 million Takata air bag inflators have been recalled in the United States and more than 100 million worldwide, the biggest auto safety callback in history.

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