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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.

Hyundai teases new Tucson ahead of Geneva [w/video]

Hyundai is giving us a pretty thorough tease of the design for the next-gen Tucson in sketch form ahead of the model's debut at the 2015 Geneva Motor Show on March 3, thanks to a newly released video and image. Up front, there's the latest version of Hyundai's chrome-framed hexagonal grille, and the squared-off wheel wells lend a more rugged appearance. According to the Korean brand's design boss Peter Schreyer in the CUV's announcement, the shape is meant to be a combination of flowing surfaces and sharp lines. The styling definitively takes some cues from the Hyundai Intrado concept from last year's Swiss show. While the grille is larger now, the two of them share similar shapes for the squinting headlights and more pronounced, bulging proportions overall, compared to the current Tucson. Also, judging by the additional shots in Hyundai's teaser video, the rear drops the show car's boomerang-shaped taillights and tiny hatch opening for more conventional features. While no interior looks are included, the clip suggests a more muted hue than the Intrado's eye-searing orange. Show full PR text HYUNDAI MOTOR SHOWS FIRST DESIGN IMPRESSION OF ALL-NEW TUCSON 03/02/15 Design sketch created in new teaser video Hints at bold and athletic SUV presence Global name underlines significance of new model Teaser video can be viewed at http://youtu.be/PzAJaWYRmdw High Wycombe, 3 February 2015 - Hyundai Motor has today unveiled its first hints about the design of the upcoming All-New Tucson, compact SUV, which will premiere at the 2015 Geneva Motor Show, on 3rd March. Commenting on the All-New Tucson, Peter Schreyer, President and Chief Design Officer of Hyundai Motor Group, said: "Our new compact SUV will be a big step forward for the Hyundai brand globally. The All-New Tucson has a bold and athletic presence and a proud stance. Its design is characterised by flowing surfaces, bold proportions, sharp lines and – most important – our brand signature hexagonal grille." The strong, sporty SUV appearance is enhanced by the upright silhouette and sleek character line. At the front, Hyundai Motor's distinctive chrome-framed hexagonal grille is connected to the headlamp clusters creating a powerful impression. With more than one million SUV sales in Europe since the introduction of the first Santa Fe in the early 2000s, Hyundai Motor has established its credibility in the SUV segment.

2015 Hyundai Genesis automatically slows for speed cameras

Speed cameras are something of a foreign curiosity for many drivers in the US. Sure, there is sporadic use of red light cameras here, but the cams to catch speeders are much more popular in Europe. However, Hyundai might have created a way to end that scourge for our foreign auto enthusiast compatriots. The Korean automaker recently showed off a system on the Genesis at its headquarters in Seoul that could detect and automatically slow down for the nefarious devices. It could make many speeding tickets a thing of the past.
According to Australian website Drive, the Genesis' tech is actually a simple integration of already existing structures. It combines a navigation system programmed with the locations of speed cameras and the sedan's automatic braking. Drivers get an audible warning about a half-mile beforehand to slow down, and if they don't the car can do it for them.
Unfortunately, this potentially money-saving tech isn't leaving its domestic market anytime soon. "This is offered only in Korea and not planned for the US. In Korea, many cars with smart cruise control offer this and it is viewed as a safety feature," said Hyundai spokesperson Jim Trainor to Autoblog via email.