2011 Hyundai Hybrid on 2040-cars

Auto blog

IED Torino students dream up the PassoCorto for Hyundai

Every year the students at the Istituto Europeo di Design (IED) in Turin work up something new to unveil at the Geneva Motor Show. It's usually a concept for an Italian automaker (like the Alfa Romeo Gloria, the Cisitalia 202 E or the Abarth ScorpION) or at least something European (like the concepts they worked up with McLaren or the ones they did for Aston Martin). But this time they've wandered a little farther from home in designing a sports car for Hyundai.
It's called the PassoCorto - Italian for "short wheelbase" - and it was designed in collaboration between the grad students in the Master in Transportation Design program (under the supervision of Pininfarina design Luca Borgogno) and the Hyundai's European design center.
The design (theoretically) calls for a 1.6-liter twin-turbo four, mounted amidships and driving 266 horsepower to the rear wheels. It looks pretty promising, and if Hyundai were ever keen on taking on the likes of the Alfa Romeo 4C and Porsche Cayman, this strikes us as a damn good place to start.

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 and Kia recalling 1.6M more models for faulty brake switch

In what is likely the largest recall campaign for Hyundai and Kia, the National Highway Traffic Safety Administration has announced a recall of more than 1.6 million models due to a faulty brake switch. This is in addition to almost 700,000 Hyundai and Kia models recalled for the same problem back in 2009.
In more than 620,000 Kia models and 1 million Hyundai products for the 2007 through 2011 model years, the brake switch could malfunction causing the brake lights to not illuminate, which could lead to accident. Other possible issues with a faulty switch include the cruise control not cancelling with the brake pedal, the push-button starter not working properly and the shift interlock not disengaging causing the transmission to be stuck in Park. To fix the problem, the brake lights switch will be replaced.
Due to the large number of units being recalled, both automakers are issuing a notice by next month with parts not expected to be ready until June. The full list of affected vehicles and the NHTSA press releases are posted below.