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Hyundai sticks to EV rollout plans, sees solid growth this year

SEOUL — Hyundai Motor said on Thursday it would not delay plans to roll out new electric vehicles and was upbeat about prospects for continued growth this year — a contrast to recent steps by rivals to cut back on EV output. Electric vehicle sales are growing strongly but not as much as carmakers had forecast, with demand hit by high interest rates. "We do not plan to dramatically reduce EV production or our line-up due to likely near-term hurdles as we believe EV sales will grow longer term," Seo Gang Hyun, an executive vice president at the South Korean automaker, told an earnings briefing for analysts. The Hyundai Motor Group, which encompasses the Hyundai, Kia and Genesis brands, said in April it plans to launch 31 EVs by 2030. This includes the launch of the Ioniq 7 SUV next year. Seo said Hyundai's EV sales next year could be slightly lower than previously expected, but the automaker had the production flexibility to boost output of gasoline engine cars if demand shifted that way and he did not expect a significant impact on overall sales. When asked about the impact on Hyundai Motor of the United Auto Workers (UAW) union reaching a tentative labour deal with Ford, Seo said the company expects the deal will have an impact on wage increases at its U.S. factories, but such costs could be covered as the automaker has been putting effort into reducing costs, such as in logistics. Hyundai Motor, which is not a member of the UAW, operates an assembly plant in Alabama and is building a factory to produce EVs in Georgia. For the third quarter, Hyundai booked a net profit of 3.2 trillion won ($2.4 billion), more than double its year-earlier result and beating an LSEG SmartEstimate of 2.9 trillion won, with the automaker helped by a favourable exchange rate. Sales also increased, climbing 8.7% to 41 trillion won on solid demand for high-margin gasoline SUVs. Sales of EVs and hybrids also grew, up by a third to 169,000 units. This month has seen a flurry of downbeat EV announcements. Citing flattening demand for EVs, GM said it would delay production by a year of Chevrolet Silverado and GMC Sierra electric pickup trucks at a plant in Michigan. Ford is temporarily cutting one of three shifts at the plant that builds its electric F-150 Lightning pickup truck. Tesla is also slowing plans for a Mexico factory, while GM and Honda announced on Wednesday that they were ending a $5 billion plan to develop lower-cost EVs together.

Hyundai Veloster facelift includes new 7-speed DCT, light cosmetics

Hyundai hasn't given the Veloster the exterior overhaul that we expected, but it has outfitted the quirky, oddly doored hatchback with some new tech, at least in the Korean market. The biggest change for the Veloster is confirmation that the previously rumored seven-speed dual-clutch gearbox will replace the current six-speed unit in the Turbo. It's mated to the same 1.6-liter, forced-induction four-cylinder featuring 201 horsepower and 195 pound-feet of torque. The exterior receives a few tiny tweaks, too, with new wheel designs and slightly different silver trim around the grille, but the bigger changes are found in the cabin. Those alterations aren't limited to new materials: Hyundai has included a new engine sound equalizer for the Veloster that lets drivers select from six different engine soundtracks. The instrument cluster also gets slightly altered, and there are new two-tone looks for the seats, as well. According to a blog post by Hyundai, the price for the Turbo with the seven-speed dual clutch starts at 23.7 million won ($22,000). Unfortunately, there's no official word whether these changes are going to make it across the Pacific to the US market. We've got an inquiry in with Hyundai Motor America, and will let you know if we hear more.

Recharge Wrap-up: Hyundai Tucson Fuel Cell logs moon-worthy mileage, Kolle makes Renault Kangoo ZE pickup

A French company called Kolle has made a pickup truck version of the Renault Kangoo ZE. The converted version of the electric van retains the same battery and drivetrain, offering a range of 106 miles, plus a bit more utility without the restraints of a roof over the cargo area. The tailgate is separated into two hinged doors, which swing open to the side for loading and unloading. Payload is about 1,433 pounds. The price is about $16,400, which includes incentives, but not the price of the battery. Read more at Inside EVs, and get more details at the Kolle website. Drivers in southern California have put enough cumulative miles on the Hyundai Tucson Fuel Cell to reach the moon. The hydrogen-powered crossover recently surpassed a combined 238,900 miles, which is the average distance from Earth to the moon. Mileage and other helpful information is gathered from participating owners periodically. "Surpassing this fundamental stellar threshold gives us a glimpse into the unlimited zero-emissions potential for Hyundai fuel cells," says Hyundai's Mike O'Brien. "If a small fleet of hydrogen-powered fuel cell vehicles can accumulate this kind of mileage in just a few short months, one can only imagine the potential for a zero-emissions hydrogen vehicle future." Read more in the press release below. A cross-country trip in a pickup running on chicken fat is scheduled for March 8. Cliff Ricketts, an agribusiness and agriscience professor at Tennessee State University, originally began the trip in November, running on biodiesel made from chicken fat. The 1981 Volkswagen Rabbit pickup's transmission broke near Kansas City, cutting short the trip between Key West, Florida and Seattle, Washington. With the truck repaired, he hopes to make the 3,550-mile trip next month. During his earlier attempt, though, Ricketts logged fuel economy ranging from 36 to more than 45 miles per gallon. Read more at Domestic Fuel. HYUNDAI TUCSON FUEL CELL DRIVERS FROM SOUTHERN CALIFORNIA ACCUMULATE SUFFICIENT MILEAGE TO REACH THE MOON EMISSIONS-FREE Cumulative Zero-emissions Mileage by Fuel Cell Drivers Surpasses 238,900 Miles FOUNTAIN VALLEY, Calif., February 25, 2015 – Hyundai Tucson Fuel Cell drivers have surpassed an impressive threshold, recently accumulating more than 238,900 miles on the roads of Southern California, all while emitting only clean water vapor.