2017 Hyundai Tucson Se on 2040-cars

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Hyundai expanding US plant capacity for SUV production

With cheap gasoline still driving CUV and SUV sales, three anonymous sources are reporting to Automotive News that Hyundai is looking to expand production at its Montgomery, AL factory with an eye towards production of high-riders. The Montgomery factory is currently responsible for Elantra and Sonata production, although as both sedans have faced slagging sales, Hyundai is seemingly taking a second look at its production priorities. "It's a new assembly line right next to the current Alabama line. State of Alabama is negotiating final terms," one of the sources told AN. The other two sources, meanwhile, indicated that while the company has been mulling expanded production in America, a final decision hadn't been made yet. As for what vehicle could join the Elantra and Sonata on a new line in Alabama, Korea Investment and Securities auto analyst Suh Sung-moon told AN the Santa Fe could move from its current home at the Kia facility in Georgia, although the Montgomery factory could also accommodate production of the compact Tucson (it's unclear if Suh was referencing the next-generation Tucson that debuted in Geneva or the current model) or even a pickup truck, were Hyundai to go such a route. Meanwhile, AN reports that Korea's Yonhap News Agency expects the Montgomery facility to be able to produce 300,000 vehicles, including an SUV, by 2017. While Hyundai declined Automotive News's inquiries, we have our ear to the ground for any official information from the South Korean marque.

Albert Biermann, the man behind some of Hyundai's sportiest cars, retires

Hyundai Motor Group, which includes Kia and Genesis, made big news by announcing at the end of 2014 that it was bringing on Albert Biermann to its research and development division. He had spent just over 30 years at BMW and was in charge of the M division before he left. His time at Hyundai led to some of the company's best driving cars, which meet or beat the global competition. But now, the company has announced Biermann is retiring. At 65 years old, it's not entirely surprising that Biermann would be looking at retirement, and he seems to be leaving on good terms. "Korea will remain as my second home, and all of my colleagues at Hyundai Motor Group will always be considered part of my family. I would like to recognize that our success has always been based on the strong collective spirit of the many talented people at Hyundai, and I will value our unique achievements wherever I live," he said in a release from Hyundai. Fortunately, Biermann will still be an Executive Technical Advisor for the company. Specifically, he'll be advising on electrified performance cars. We say fortunately, because Biermann has been so involved in some of the company's best cars. He helped make the company's rear-drive-based cars such as the Kia Stinger and Genesis models so fun to drive. He also helped setup Hyundai's N sub-brand, and the N models are among the best sport compacts in the world. Assuming Hyundai has taken to heart many things from Biermann, and with his continued advising, the company should still be in a good position. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2022 Hyundai Kona N Short Cut

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.