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Hyundai, Kia announce buyback plan for angry Korean investors

Hyundai's controversial decision last September to move its Korean headquarters to an expansive (and expensive) new facility was met with a swift backlash by shareholders. After making the biggest land purchase in South Korean history, the company's share price took a nine-point nose dive.
Now, in a bid to get back in the good graces of its stockholders, Hyundai and its subsidiary, Kia, will make a $615-million stock buyback plan. Reuters claims this is the first time in ten years that Hyundai has made a buyback offer with the explicit purpose of pumping up share prices.
The total deal bumped up Hyundai's share prices 5.7 percent while Kia is up two percent, although neither company has fully recovered from the battering that followed the headquarters announcement. It's unclear what else it will take for Hyundai to recover the ground it lost during the land deal.

Hyundai readying 708-hp Sonata for SEMA

For the past two years at the SEMA show, the folks at Bisimoto Engineering have taken one of Hyundai's models and tuned it up to levels of power previously unimaginable. It started in 2012 with a 600-horsepower Elantra GT, and they outdid themselves last year with a 1,000-hp Genesis Coupe. This year Bisimoto's tuners are teasing their latest wild creation by starting with a normal 2015 Sonata and turning the wick up to 708 hp thanks to a long list of engine mods. The key in this massive injection of power is taking the regular 2.4-liter Theta-II four-cylinder engine and doing everything necessary so that it can actually withstand so much additional strain. That means introducing forged pistons and connecting rods and an improved valvetrain with new cams, plus a high-boost turbocharger to really up the ante. It's all then mated to a six-speed manual to get things rolling. "After hundreds of hours of testing, failure analysis and prototyping, 18 new products will be engineered and produced in house to produce 708 horsepower from the Sonata," said Bisi Ezerioha, owner of Bisimoto Engineering in Hyundai's release. While it might be pretty cool to find a 708-hp Sonata that looked completely stock at first glance, this is for the SEMA show after all, and it's all about showing off there. So in addition to the huge increase in horsepower, the Hyundai gets a complete aero upgrade, a coil-over suspension and a roll cage inside, in addition to other improvements. At the moment, only the rear of the car is being teased ahead of the November 4 reveal. Until we get to see more, scroll down to read Bisimoto's entire parts list to turn Sonata from a commuter into a racer. HYUNDAI PARTNERS WITH BISIMOTO FOR A THIRD YEAR TO CREATE 708 HORSEPOWER FLEX-FUEL 2015 SONATA 22/09/14 Bisimoto Engineering Focuses on Strengthening and Reliability to Create Most-Powerful Sonata Ever FOUNTAIN VALLEY, Calif., Sept. 22, 2014 – For the third year in a row, Hyundai is partnering with the powertrain gurus at Bisimoto Engineering, this time to create a 708 horsepower Sonata for the 2014 SEMA show in Las Vegas. Bisimoto's team specializes in extracting huge output from Hyundai's engines, like the 1000 horsepower Bisimoto Genesis Coupe that was built for last year's SEMA show. For this year's show, the team is using Hyundai's 2.4-liter "Theta-II" 4-cylinder engine as the starting point for their build.

Hyundai Ioniq model lineup shown ahead of Geneva debut

Hyundai released information on all three versions of the Ioniq ahead of their debut at the Geneva Motor Show next week. We've already taken a close look at the Toyota Prius-fighting hybrid model but now we have new information on the electric and plug-in hybrid variants. While the two hybrid models are nearly identical, the battery-electric Ioniq has an enclosed nose for better aerodynamics. The plug-in comes with an upgraded electric motor making 60 hp, compared to 43 in the hybrid. It uses the same 1.6-liter Atkinson-cycle four-cylinder, but Hyundai has to yet to divulge if the total system power in the plug-in is higher than the 139 horsepower figure for the hybrid. Using an 8.9 kWh battery, the plug-in is said to offer 31 miles of electric range. The larger, heavier Ford Fusion Energi plug-in uses as 7.6 kWh battery and is rated at 20 miles of electric range. On a loose estimate we'd guess the Ioniq plug-in will be rated around 25 miles of electric driving. As for the electric Ioniq, Hyundai is only giving us the numbers: 28 kWh battery, 118 horsepower, 103-mph top speed. Range is a quoted 155 miles, but again we're not sure what cycle that's on. The 110-hp, 30 kWh Nissan leaf manages 107 miles on the EPA sticker, so we expect similar (possibly lower) numbers from the Hyundai. We still don't know when any version of the Ioniq will go on sale in the United States, but with confirmation that the related Kia Niro is still 11 months away we don't expect the Hyundai to be in showrooms before the end of the year. View 7 Photos Green Geneva Motor Show Hyundai Electric Hybrid hyundai ioniq