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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.

Recharge Wrap-up: Uber app for Apple Watch, Hyundai brings ix35 Fuel Cell to Australia

Uber has updated its app to support the upcoming Apple Watch. Users will be able to hail a car with a single tap directly from the wearable device. The Uber app for the Apple Watch will also let the user check on the driver's progress. The Apple Watch launches on April 24. Read more at iPhone Hacks. The Place at Terracina in Austin, Texas will offer Car2go services onsite. Through a partnership with real estate group MC Companies, the carsharing service will have six dedicated parking spots at the community's entrance for residents and other nearby users. "We know our residents will benefit from the Car2Go service and hope it helps them share the good life with others," says MC Companies Vice President of Marketing Eric Brown. Read more in the press release from MC Companies below. Hyundai has debuted the ix35 (Tucson) Fuel Cell in Australia. Along with giving Australia its first hydrogen vehicle, Hyundai is also unveiling a solar hydrogen refueler. The refueling station, located at Hyundai's Sydney headquarters, uses solar power to run the electrolyzer to make hydrogen from water onsite. Hyundai's Bill Thomas told 3AW that a future where most vehicles on the road are powered by hydrogen is "a way off. We're working on our next-generation fuel cell vehicle which we're hoping to bring out in 2018, but even at that stage, we're only talking in small numbers." Listen at 3AW, and read more at RenewEconomy. MC Companies Partners with Car2Go Brings Innovative Service to The Place at Terracina with Car2Go SCOTTSDALE, Ariz., March 31, 2015 /PRNewswire/ -- Cars are a costly investment. We can't all buy our own and we understand that life can get in the way of being financially stable enough to purchase one. Living expenses, bills and unexpected costs pop up all the time. Car 2 Go is making it easy to have access to a car no matter what life throws at you. MC Companies is teaming up with Car2Go to bring this convenient service to The Place at Terracina. Car2Go now has six spaces for cars to be dropped off and picked up at the entrance of the community and this is the furthest North location that Car2Go has in the city. This provides residents, and people in the area, with shared vehicles to help them navigate through their days with ease. "We are excited to have Car2Go on our property and can't wait to share it with our residents," says community manager Rachel Sypho.

Hyundai's Western designers want a Genesis supercar

Will Genesis build a supercar? The answer is that it could, eventually ... if the Hyundai Motor executives are convinced by the Western designers they've hired. Speaking with Peter Schreyer and Luc Donckerwolke at the New York Auto Show last week, Australia's CarAdvice reports that there is a desire within the company to create a supercar to cap the Genesis lineup, but that it might take a while. "It's still some time away, something like this," Schreyer told CarAdvice. "All these things take a little bit of time. We're just at the beginning and things like that, you know, we need to talk about and develop more." Donkerwolke seemed even more optimistic. "I won't reveal the secret now because it's still my baby! Obviously, yes, this is part of the interest of designing a brand, being able to create [supercars]. It's not just something which we'll do, let's say a rational traditional project, but there will be some highlights." The Hyundai N 2025 Vision Grand Turismo concept is shown above. Both Schreyer and Donkerwolke came to Hyundai from the Volkswagen Group. Schreyer now serves as one of three presidents at Kia and chief designer for the entire Hyundai portfolio. Donkerwolke recently joined him to run the premium design office for the Genesis brand, having designed the Lamborghini Gallardo, Murcielago, and Bentley EXP 10 Speed 6 concept, among others. Joining the likes of the Acura NSX, Lexus LFA, and Audi R8 may be a priority for the designers, but they'll like face a difficult task in convincing the bean-counters in Seoul to ever green-light such a project. "This is very difficult for them, the company is there to exist," said Schreyer. "It's a business." Related Video: Featured Gallery Hyundai N 2025 Vision Gran Turismo Concept: Frankfurt 2015 View 17 Photos News Source: CarAdviceImage Credit: Copyright 2016 Drew Phillips / AOL Design/Style Genesis Hyundai Supercars supercar