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Hyundai reveals CEO's pay for first time ever

Thanks to some government pressure, Hyundai's billionaire chairman, Chung Mong Koo, has revealed just how much he gets paid each year. Honestly, the amount is a bit lower than we'd expect considering he helms such a huge industrial empire. The 76-year-old chairman brought home $13 million in 2013, $5.2 million of which came from Hyundai's automotive business while both Mobis and Hyundai Steel chipped in $3.94 million, each. For reference, Ford CEO Alan Mulally netted $23.2 million in 2013, although the vast majority of that money came from stock options.
The push for Chung to reveal his pay was part of a larger effort by the South Korean government called the Financial Investment Services and Capital Markets Act. The act forces several thousand companies to release info on annual pay, bonuses and severance for employees earning over $5 million won ($469,000), according to Bloomberg.
"With the disclosure of the executives' compensation, the pressure to deliver better profits will increase," said Heo Pil Seok, the CEO of Midas International Asset Management. It seems to be working, as Hyundai shareholders, of which Midas is one, have seen their shares increase by 6.1 percent in 2014, which includes a 1.2-percent jump as of yesterday, according to Bloomberg.

Hyundai unveils new i10

Hyundai has just revealed the new i10, the sub-Accent five-door sold in Europe. The diminutive city car first went on sale in 2007, but received a light facelift in 2011, to bring it more in line with Hyundai's then-new styling theme. The new model is an even more style-conscious offering, with a gaping front fascia, integrated LED running lights (because, why not?), and a stylish side strakes integrated into the doors.
The new model is longer (80 millimeters or 3.14 inches) and wider (65 mm or 2.5 in) than the car it replaces, but is 50 mm (2.0 in) lower than the old i10. The result is a purported best-in-class legroom and cargo space, while the lower overall height should lead to a slightly better driving experience. The wheelbase has been stretched an inconsequential five millimeters as well, as part of its move to a new platform.
Hyundai hasn't announced any engines just yet, although we'd suspect the regular suite of three- and four-cylinder engines, with both gas and diesel options will be available. The new i10 begins production in September, and will do battle with A-segment stalwarts like the Fiat Panda, Renault Twingo and Volkswagen Up!.

2016 Hyundai Sonata PHEV will be a 50-state car, sort of

Technically, the upcoming 2016 Hyundai Sonata Plug In Hybrid will be available in all 50 states. It will just be a lot easier to get in the ten ZEV states. That's because in the 40 states that do not follow California's Zero Emission Vehicle regulations, Hyundai dealers will not be stocking the plug-in version of the Sonata when it goes on sale in the fall of 2015. In the ten ZEV states (California, Connecticut, Maine, Maryland, Massachusetts, New Jersey, New York, Oregon, Rhode Island, Vermont), Hyundai will stock and sell the PHEV Sonata just like any other model, with numerous colors and trim levels available on dealer lots. In the other 40 states, "we're not going to encourage dealers to stock them," because the company expects demand to be low, said Mike O'Brien, Hyundai's vice president of corporate and product planning. O'Brien was speaking at a launch event for the two new Sonatas in California this week. Hyundai has a reason for choosing the ZEV states as a starting point, O'Brien said. "The ten states are spending more money on charging infrastructure, so you can park at work, you can park while you're in the grocery store, and you can charge your car while you're doing it." In any other state, where the plug-in infrastructure is weaker, a customer can order a PHEV Sonata just as if they were going to get a specific color Veloster that the local dealer didn't have in stock, O'Brien said. "It's really no different." "If you just look at the sales, basically all our competitors, over half of their plug-in hybrid sales are right here in the state of California," O'Brien said. "Usually, much more than half. If you cover the ZEV states, you're going to cover over 85 percent of the sales already. And we're going to make sure that our dealers can accommodate and customers that wish to buy outside those states." In other ways, the PHEV buying process will be similar. The customer can choose, at time of purchase, to rely on standard 110-volt outlets or to work with the dealer to install a Level 2, 240-volt charger at their home. Hyundai will train its dealers to offer a preferred partner's charger (Hyundai would not specify which company it will be working with). With 110, an empty-to-full charge of the 9.8-kWh lithium-ion polymer battery will take around nine hours, but with Level 2 it'll be around three hours. "The essential technical elements [of the PHEV] are the same as the hybrid," O'Brien said.