2005 Hyundai Sonata Lx on 2040-cars

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Hyundai Sonata PHEV may be a game (and mind) changer

If you really, really want to consume volts instead of fuel on your way to work, school or shopping, you currently have just three options: pure EV, hydrogen fuel cell, or plug-in hybrid EV. Much as we love them, we all know the disadvantages of BEVs: high prices due to high battery cost (even though subsidized by their makers), limited range and long recharges. Yes, I know: six-figure (giant-battery) Teslas can deliver a couple hundred miles and Supercharge to ~80 percent in 10 minutes. But few of us can afford one of those, Tesla's high-voltage chargers are hardly as plentiful as gas stations, and even 10 minutes is a meaningful chunk out of a busy day. Also, good luck finding a Tesla dealership to fix whatever goes wrong (other than downloadable software updates) when it inevitably does. There still aren't any. Even more expensive, still rare as honest politicians, and much more challenging to refuel are FCEVs. You can lease one from Honda or Hyundai, and maybe soon Toyota, provided you live in Southern California and have ample disposable income. But you'd best limit your driving to within 100 miles or so of the small (but growing) number of hydrogen fueling stations in that state if you don't want to complete your trip on the back of a flatbed. That leaves PHEVs as the only reasonably affordable, practical choice. Yes, you can operate a conventional parallel hybrid in EV mode...for a mile or so at creep-along speeds. But if your mission is getting to work, school or the mall (and maybe back) most days without burning any fuel – while basking in the security of having a range-extender in reserve when you need it – your choices are extended-range EVs. That means the Chevrolet Volt, Cadillac ELR or a BMW i3 with the optional range-extender engine, and plug-in parallel hybrids. Regular readers know that, except for their high prices, I'm partial to EREVs. They are series hybrids whose small, fuel-efficient engines don't even start (except in certain rare, extreme conditions) until their batteries are spent. That means you can drive 30-40 (Volt, ELR) or 70-80 miles (i3) without consuming a drop of fuel. And until now, I've been fairly skeptical of plug-in versions of conventional parallel hybrids. Why?

Hyundai Motor plans 17 EVs, $16B investment by 2030

SEOUL — South Korea's Hyundai Motor Co said on Wednesday it planned to invest about 95.5 trillion won ($79.21 billion) through 2030, including about 19.4 trillion won ($16.10 billion) towards electric vehicle (EV) related businesses. It also said it plans to introduce 17 EVs in that timeframe, six from Genesis and 11 from the Hyundai brand. Hyundai announced that three of those EVs would be sedans, along with six SUVs, a light commercial vehicle and one new type of model. It will begin sales of the Ioniq 6 later this year, followed by the Ioniq 7 in 2024. Hyundai Motor, which together with affiliate Kia Corp is among the world's top 10 biggest automakers by sales, targets to achieve a 7% market share in the global EV market by 2030, with an annual sales target of 1.87 million vehicles, the automaker said during a virtual investor day. The Seoul-based automaker said it aimed to achieve an operating profit margin of 10% or higher in EV business by 2030. "Hyundai is successfully accelerating its transition to electrification and becoming a global leader in EVs despite a challenging business environment caused by the global chip shortage and ongoing pandemic," Hyundai Motor Chief Executive Officer Jaehoon Chang said. Analysts, however said Hyundai's $16 billion investment in EV business would not be considered an "aggressive" approach compared to its rivals, adding, the investment is easily dwarfed by bigger rivals including Toyota Motor Corp, which plans to invest 8 trillion yen ($69.43 billion) for electrification by 2030. "Hyundai is allocating about 20% of its 95.5 trillion won investment to EV related businesses, which includes building new plants, EV charging stations and strategic alliances with battery manufacturers and the investment amount for EV does not seem too surprising or aggressive," said Eugene Investment & Securities analyst Lee Jae-il. Chang said Hyundai was considering building new dedicated EV production plants without proving details of new factories, including locations and timeline. Analysts said Hyundai would be eying on building dedicated EV factories in the United States, as it considers that as its key EV market. Shares in Hyundai Motor closed down 2.6%, compared to the benchmark KOSPI's 0.2% gain. ($1 = 1,205.2600 won) ($1 = 115.2300 yen) (Reporting by Heekyong Yang and Joyce Lee; Editing by Clarence Fernandez and Rashmi Aich) Related video: This content is hosted by a third party.

Biden says U.S. is willing to continue talks with South Korea on EV subsidy

SEOUL — President Joe Biden has expressed willingness to continue talks with South Korea over recent U.S. legislation that denies subsidies to most foreign makers of electric vehicles (EVs), an official from Yoon's office said on Wednesday. Biden gave the assurance in a letter to South Korean President Yoon Suk-yeol, who had asked the U.S. president last month for help to allay Seoul's concerns that the new U.S. rules would hurt South Korea's automakers. "We assess that President Biden reaffirmed his understanding of our concerns through a personally signed letter .... it shows Biden's willingness to be considerate towards South Korean companies in the future," the official said. The Inflation Reduction Act, signed by Biden in August, requires EVs assembled in North America to qualify for tax credits in the United States, but excluded Hyundai Motor Co and its affiliate Kia Corp from EV subsidies, as they do not yet make the vehicles there. As a result, only about 20 EVs qualify for subsidies under the new rules. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Government/Legal Green Genesis Hyundai Kia EV tax credit