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Hyundai shoots down the rumor claiming it is done developing engines

Hyundai has clarified that the recent rumor claiming it had stopped developing gasoline- and diesel-burning engines to focus on various forms of electrifications is false. It said that development work remains on-going and that the internal combustion engine still has a future. "Hyundai Motor Group can confirm that it is not halting the development of its engines following recent media speculation. The Group is dedicated to providing a strong portfolio of powertrains to its global customers, which includes a combination of highly efficient engines and zero-emissions electric motors," said senior group manager Michael Stewart in an interview with Motor1. The report that emerged in late 2021 claimed that the Hyundai Group (which includes the Hyundai brand, Kia, and Genesis, among other entities) had completely stopped designing piston-powered engines to focus on electrification. It claimed that most of the engineers had been assigned new roles related to electrification, though it also noted that some were staying behind to continue refining the technology. If this sounds familiar, it's likely because Hyundai recently shot down a separate but similar rumor that said it had put the hydrogen-electric powertrain it planned to install in many of its cars (including some upmarket Genesis models) on hiatus. The carmaker explained that it has merely reshuffled the team that's developing the technology because unspecified technical hurdles have slowed down the project. Several electric Hyundai models are in the pipeline, including the production version of the Prophecy concept unveiled in 2020 and a relatively big SUV previewed by the 2021 Seven concept. But, its comments suggest that more gasoline-powered models are on the way as well, which is great news; its range of N-tuned high-performance models includes excellent cars and there's still room for it to grow. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Hyundai going with AeroVironment for dealership PHEV chargers

Hyundai will partner with AeroVironment as the supplier for charging stations at dealers for the 2016 Sonata Plug-in Hybrid. The 240-volt chargers will be able to top up the PHEV in less than three hours. Customers can also order AeroVironment's home chargers directly from the automaker's showrooms. AeroVironment is a veteran to working with automakers on charging solutions and has experience partnering with Fiat, Ford, Nissan, and BMW. The company also installed a network of locations along the I-5 corridor in Oregon. Customers can already buy the Sonata PHEV in ten states, including California, for a starting price of $35,435 (after $835 destination but before any tax incentives). The sedan has a total output of 202 horsepower from its 2.0-liter four-cylinder and electric motor. The 9.8-kWh lithium-polymer battery offers 27 miles of electric range and an EPA-estimated 99 miles per gallon equivalent. Hyundai dealers might have more green cars on the lot to use these chargers in the coming years. The company reportedly has a project codenamed AE under development, and rumor indicates that hybrid, PHEV, and EV models could be on the way. Hyundai Motor America Picks AeroVironment to Provide Dealer Charging Stations for the All-new 2016 Sonata Plug-in Hybrid Model AeroVironment to provide reliable and easy-to-use EV charging stations in Hyundai dealerships Hyundai becomes the seventh major auto manufacturer to choose AeroVironment as its preferred dealer charging station provider Hyundai drivers have the option to purchase AeroVironment's portable TurboCord charging system or its wall-mounted EVSE-RS charging station SIMI VALLEY, Calif., Nov. 24, 2015 – Hyundai Motor America has selected AeroVironment, Inc. (NASDAQ:AVAV) as the preferred provider for charging system installation at its dealerships across North America for its all-new 2016 Hyundai Sonata Plug-in Hybrid. Hyundai is the seventh plug-in electric vehicle (EV) auto manufacturer to choose AeroVironment as one of its suppliers. The 2016 Sonata Plug-in Hybrid comes with a high-capacity lithium-polymer hybrid battery system that delivers an all-electric range of 27 miles before switching to hybrid mode. The Sonata Plug-in Hybrid also comes with a lifetime hybrid battery warranty. The AeroVironment 240-volt TurboCord and the EVSE-RS charging station can charge the Sonata Plug-in Hybrid in less than three hours versus the approximate nine hours needed using a standard 120-volt charging cable.

Hyundai missing Q1 earnings targets blamed on slow US sales

Slow US growth is hampering profits at Hyundai. In its first quarter financial statement, the Korean automaker reported a profit of 1.93 trillion won ($1.86 billion). According to Reuters, this is less than analysts' expectations and nearly the same as last year.
According to the report, US sales fell by 3 percent in Q1 2014. To make matters worse, the high value of the South Korean currency caused lower profits on models exported from there. On the bright side, Hyundai's Chinese sales rose by 9 percent, according to Reuters. It's also working on building a fourth factory there.
The company has had a rough time in the US throughout the quarter. John Krafcik, the CEO of Hyundai of America, stepped down on January 1, and the company was already predicting slow growth in sales for 2014. Falling quality scores for the Sonata and Elantra aren't helping matters either. However, there may be hope on the way. The second-generation Genesis Sedan was introduced to the US in Detroit, and the redesigned Sonata was recently shown in New York. Successful launches of these important models could prove crucial.