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John Krafcik eyes Sonata, talks about his new role

As hundreds of people gathered to watch the unveiling of the 2015 Hyundai Sonata at the New York Auto Show on Wednesday, John Krafcik, a driving force behind the new vehicle, found himself in a peculiar position.
He stood far away from the car, away from the crowd. He watched from the Nissan stand as the covers were pulled off the Sonata.
If it was an awkward moment for Krafcik, whose tenure as Hyundai's chief executive officer ended on January 1, he didn't show it. He offered effusive praise of the Sonata. "It's a beautiful car," he said. "I think it's wonderful."

Hyundai Motor plans 17 EVs, $16B investment by 2030

SEOUL — South Korea's Hyundai Motor Co said on Wednesday it planned to invest about 95.5 trillion won ($79.21 billion) through 2030, including about 19.4 trillion won ($16.10 billion) towards electric vehicle (EV) related businesses. It also said it plans to introduce 17 EVs in that timeframe, six from Genesis and 11 from the Hyundai brand. Hyundai announced that three of those EVs would be sedans, along with six SUVs, a light commercial vehicle and one new type of model. It will begin sales of the Ioniq 6 later this year, followed by the Ioniq 7 in 2024. Hyundai Motor, which together with affiliate Kia Corp is among the world's top 10 biggest automakers by sales, targets to achieve a 7% market share in the global EV market by 2030, with an annual sales target of 1.87 million vehicles, the automaker said during a virtual investor day. The Seoul-based automaker said it aimed to achieve an operating profit margin of 10% or higher in EV business by 2030. "Hyundai is successfully accelerating its transition to electrification and becoming a global leader in EVs despite a challenging business environment caused by the global chip shortage and ongoing pandemic," Hyundai Motor Chief Executive Officer Jaehoon Chang said. Analysts, however said Hyundai's $16 billion investment in EV business would not be considered an "aggressive" approach compared to its rivals, adding, the investment is easily dwarfed by bigger rivals including Toyota Motor Corp, which plans to invest 8 trillion yen ($69.43 billion) for electrification by 2030. "Hyundai is allocating about 20% of its 95.5 trillion won investment to EV related businesses, which includes building new plants, EV charging stations and strategic alliances with battery manufacturers and the investment amount for EV does not seem too surprising or aggressive," said Eugene Investment & Securities analyst Lee Jae-il. Chang said Hyundai was considering building new dedicated EV production plants without proving details of new factories, including locations and timeline. Analysts said Hyundai would be eying on building dedicated EV factories in the United States, as it considers that as its key EV market. Shares in Hyundai Motor closed down 2.6%, compared to the benchmark KOSPI's 0.2% gain. ($1 = 1,205.2600 won) ($1 = 115.2300 yen) (Reporting by Heekyong Yang and Joyce Lee; Editing by Clarence Fernandez and Rashmi Aich) Related video: This content is hosted by a third party.

Hyundai ups price of 2014 Sonata Hybrid slightly to $26,000

Hyundai is hoping prospective car buyers won't quibble with a 1.3 percent price hike for its Sonata Hybrid this year. Heck, the South Korean automaker brought the price down a year ago, so everyone's theoretically almost even. Or so they hope. Hyundai is boosting the base MSRP on the 2014 hybrid sedan by $350 to an even $26,000, with the top-of-the-line version now priced at $30,750. The company's probably feeling pretty confident after coming off its best sales year ever in the US. Last year, Hyundai boosted unit sales by 2.5 percent to almost 720,800 units domestically. Oddly, Sonata sales fell enough last year for Elantra to become Hyundai's new best-selling model in the US. And the company doesn't break out sales of the Sonata Hybrid (don't feel bad, sister company Kia doesn't break out hybrid sales figures for its twin Optima either). A year ago - and after a very public lowering of fuel economy numbers - Hyundai increasing the Sonata Hybrid's fuel efficiency while cutting its price, and even arranged for bigger cargo space to boot. Specifically, the 2013 model-year Sonata Hybrid increased fuel efficiency to a 36/40/38 miles per gallon split while cutting its price by $200 to a base MSRP of $25,650. Check out Hyundai's press release on the 2014 Sonata Hybrid below. 2014 Sonata Hybrid Refreshes Interior With New Standard Premium Features and Maximizes Electric-Only Driving Efficiency Hyundai Continues Industry-Exclusive Hybrid Lifetime Battery Warranty FOUNTAIN VALLEY, Calif., March 4, 2014 /PRNewswire/ -- Hyundai Motor America has announced pricing for the 2014 Sonata Hybrid, starting at $26,000 for the extraordinarily well-equipped Sonata Hybrid and $30,750 for the range-topping Sonata Hybrid Limited. Hyundai Motor America will continue to offer an industry-exclusive Hybrid Lifetime Battery Warranty on the 2014 Sonata Hybrid. 2014 SONATA HYBRID PRICING Model Engine Transmission MSRP Sonata Hybrid 2.4L Atkinson 4-cyl. Hybrid 6-Speed A/T $26,000 Sonata Hybrid Limited 2.4L Atkinson 4-cyl. Hybrid 6-Speed A/T $30,750 Freight Charges for the 2014MY Sonata Hybrid are $810 and not included in the prices above. The 2014 Sonata Hybrid continues to demonstrate Hyundai's commitment to innovation with its advanced Hybrid Blue Drive architecture, which features a powerful 35 kW electric motor, 47 kW Lithium Polymer battery pack and an optimized hybrid operating strategy.