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Hyundai outlines EV strategy as it struggles with cost of engine defects

SEOUL — South Korea's Hyundai Motor pledged to boost sales of electric vehicles to over half a million by 2025 as part of a bid to focus on new technologies and catch up with rivals, but some analysts saw the target as conservative and warned of the costs. The announcement by Hyundai, the world's fifth largest car maker along with affiliate Kia Motors, underscores the accelerating strategy shift under Euisun Chung, who became the motor group's executive vice chairman last year. Hyundai announced a $35 billion investment last week in mobility and other auto technologies by 2025, less than a month after unveiling a $1.6 billion deal to develop self-driving vehicle technologies with Aptiv. The firm said on Thursday it plans to launch 16 EV models by 2025 to boost sales of such vehicles 17-fold to 560,000 by that year. Still, that would be equivalent to just over 10% of its projected global sales this year. The projection compares with more bullish forecasts offered by its bigger rivals. Volkswagen AG expects to make 22 million EVs over the next decade, while General Motors aims to sell 1 million EVs annually by 2026. "That is not an ambitious target. If Hyundai fails to boost volumes fast enough, costs of electric cars will weigh on profitability," Lee Jae-il, an analyst at Eugene Securities & Investment. Hyundai said that the EV market would face intensifying competition and oversupply soon and automakers failing to meet toughening European emissions regulations will face heavy penalties and suffer a serious blow to their reputation. "EV supply is expected to surpass demand from the second half of next year," Ka Suk-hyun, vice president of Hyundai Motor, told an earnings conference call. Quality issues Hyundai's third-quarter net profit rose 59% to 427 billion won ($365 million), well below the average 684 billion profit estimate of analysts based on Refinitiv data, due to 600 billion won provisions it earmarked to address potential engine defects in the United States and South Korea. Quality issues have been a major drag in Hyundai's attempt to steer a recovery from six consecutive annual profit declines and constrained its financial firepower to invest in future technologies. It is still under investigation by U.S regulators and prosecutors over potential faulty engines in some models. Total retail sales fell 3% in the third quarter, as higher U.S.

2018 Hyundai Ioniq Plug-In Hybrid costs $26,000, goes 29 miles on electricity

The Hyundai Ioniq hybrid and Ioniq Electric were two of the more pleasant surprises of 2017. Besides their lofty fuel economy and useful electric range, respectively, they boasted reasonable pricing, a useful interior and shockingly buttoned down handling. They could almost be deemed fun to drive. Yet, there was a missing member of the family for 2017. While we always knew a plug-in hybrid would be added — it was with its siblings when the Ioniq was introduced at the 2016 New York Auto Show, and we drove a prototype earlier this year — it wouldn't be until year 2 when the production car would show its face. And although that face is shared with the Ioniq Hybrid rather than the Electric, the 2018 Hyundai Ioniq Plug-in Hybrid obviously has its own set of facts and figures that have now been revealed. Chief among them is a 29-mile all-electric driving range, which, when depleted, effectively turns the Ioniq Plug-in into a regular hybrid capable of 52 mpg combined. It has a 119 MPGe estimate, for whatever that's worth. To put all those numbers into perspective, there's the Toyota Prius Prime (25 miles, 54 mpg combined, 133 MPGe), the Honda Clarity Plug-in Hybrid (48 miles, 42 mpg combined, 110 MPGe), Chevrolet Volt (53 miles, 42 mpg combined, 106 MPGe), and the Ioniq's mechanical sibling, the Kia Niro Plug-In Hybrid (26 miles, 46 mpg combined, 105 MPGe). Pricing for the Ioniq Plug-in Hybrid starts at $25,835, including destination. The Limited trim level starts at $29,185. By comparison, the regular Ioniq Hybrid starts at $22,200 for its Blue trim and goes up to $27,550 for the Limited trim. However, keep in mind that the Plug-in Hybrid is subject to a $4,500 federal tax rebate plus whatever your particular state doles out. As such, the Plug-in Hybrid is effectively cheaper. That's also the case with the Toyota Prius Prime relative to the regular Prius. However, the Prime starts at just north of $27,995 (including destination). A regular Prius' base price is also only about $1,500 lower than the Ioniq Hybrid. In other words, the Plug-in Hybrid seems like a screaming bargain ... and if its siblings are any indication, it'll be a pretty appealing car, too. Other updates for the 2018 Ioniq lineup include paddle shifters added to the Hybrid (yay?), lane keeping assist added when lane departure warning is specified, and the availability of red paint for the Hybrid.

2018 Hyundai Sonata Sport Quick Spin Review | Returning to the revolution

The 2018 Hyundai Sonata represents a course correction of the sort that just wasn't needed with the previous-generation model. Besides a few added features here and there, that car really didn't change much during the course of its lifetime, and frankly, it didn't need to. When something works, don't screw it up. It arrived at a time when Honda and Toyota were pretty much phoning it in, and boasted a revolutionary design that quite literally changed the way midsize family sedans look to this day. Toyota designer Ian Cartabiano told me that Sonata was one of the few cars over the years that made his fellow designers wake up a bit and realize the game was changing. Then, after staging a revolution, Hyundai played it safe. The Sonata introduced three years ago was conservative to the point of anonymity outside, while not really moving the needle on the vehicle dynamics front. If there was one, clear area where that revolutionary Sonata fell short -- and indeed virtually every Hyundai -- it was in the sophistication and poise it demonstrated out on the road. Well, after the cool reception to the model redesign, Hyundai got a wake up call of its own. This 2018 Hyundai Sonata gets a rather significant facelift, adopting the curvy trapezoidal grille found on more recently introduced models, and ditching its conservative anonymity for a more organic overall appearance certainly in keeping with its "Fluidic Sculpture" predecessor. The rear was also redone with more tapered, dare I say "aggressive" taillights and the license plate relocated to the bumper. Is the end result a great-looking car? Shoulder shrug, but it's sure better than before. Compare the 2018 Hyundai Sonata to its rivals using the Autoblog Compare Cars tool. 2018 Hyundai Sonata Sport View 5 Photos However, I knew the 2018 Sonata looked different. I was quite frankly not expecting it to drive different, because when you review cars long enough, you start to know what a particular brand's cars feel like behind the wheel. There'll be subtle changes over the years, but the language remains the same. Well, the Sonata has been hitting the Rosetta Stone. The change is immediately apparent. The on-center steering feel is crisp, the turn-in more immediate and effort is consistent. It just feels "right" now whereas before turning the Sonata was one of numb indifference.