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2016 Hyundai Elantra gets new Value Edition [UPDATE]

Update: Hyundai informs us the 2016 Elantra Value Edition actually collects $1,550 in equipment together for $550 more than the Elantra SE with the Popular Equipment Package. The next-generation Hyundai Elantra reportedly debuts at the 2015 Los Angeles Auto Show in November, but there's still quite a while before the updated model arrives at dealers. To keep the sedan somewhat fresh among a crowded fielded of competitors, Hyundai is giving the 2016 model year a new Value Edition and some small tweaks to other trims. The 2016 Elantra Value Edition rings up for $19,700, plus $825 destination, and all of them come with a 1.8-liter four-cylinder with 145 horsepower and 130 pound-feet of torque along with a six-speed automatic. To earn its budget-friendly name, Hyundai claims the new trim bundles $1,000 in features for $550 more than the Elantra SE with the Popular Equipment Package. On the outside, these models get a sunroof, chrome beltline molding, and turn signals in the side mirrors. The improvements are a little more extensive inside with a tilt-and-telescoping, leather-covered steering wheel, push-button start with proximity key, and heated seats. In addition to the Value Edition, the Elantra Limited now gets standard push-button start with a proximity key and dual climate zones. Hyundai claims that it's a $600 value, but the $21,700 price is the same as last year. Finally, the Elantra Sport is losing some features to lower its price. The trim now retails for $1,350 less than last year at $20,250 with the 173-hp, 2.0-liter four-cylinder and six-speed manual or $21,250 with a six-speed automatic. However, to make that savings possible, the leather seats and power sunroof are no longer standard features. The interior now has cloth upholstery. The 2016 model year Elantras should arrive at dealers in May. 2016 ELANTRA ADDS NEW TRIM LEVEL AND MORE VALUE 15/05/15 from Hyundai New Elantra Value Edition provides $1,000 in value savings; Elantra Limited gets more standard features FOUNTAIN VALLEY, Calif., May 11, 2015 – Today, Hyundai Motor America announced the 2016 Elantra, featuring product improvements and new value-focused packaging updates. Elantra continues its high value proposition as a strong choice for shoppers in this highly-competitive segment, validated by several coveted accolades over the model's lifecycle. Elantra ranked highest in its segment for initial quality in the influential J.D. Power 2014 U.S. Initial Quality StudySM (IQS).

Hyundai, Kia looking to cut costs

Hyundai and Kia are off to roaring starts in the United States this year, underscored by Kia's best sales month ever in May. But globally the situation for the South Korean siblings hasn't been nearly so positive. Recently, they reported their fourth consecutive quarter of decreasing operating profits worldwide, and now they're "making efforts to cut costs," according to a statement in a joint email obtained by Bloomberg. However, the companies aren't detailing where they would make the cuts or how much they want to save. The amount could be significant, though. An unnamed Hyundai senior executive reportedly told a South Korean newspaper that the business might be aiming for up to 30 percent in reductions. According to Bloomberg, Hyundai and Kia are facing falling total sales worldwide. Making the situation worse is that the strong Korean won versus the weaker Japanese yen gives competitors an advantage. The automakers also angered investors enough last year to prompt a stock buyback after paying $10 billion for the land for a future headquarters. The prognosis doesn't look utterly dire, though, and new products are on the way. For example, the Hyundai Santa Fe is being refreshed in South Korea, and the next-gen Elantra debuts at this year's Los Angeles Auto Show. There's also the Creta on the way for foreign markets. Additionally, several models are still awaiting the green light, including a Hyundai Genesis-based luxury crossover, a compact CUV, and the Santa Cruz unibody pickup. Meanwhile, the Kia GT is reportedly close to production, too. Related Video:

Recharge Wrap-up: meet the '66 ZelectricBug, DOE announces home-scale H2 refueling competition

The US Department of Energy has launched the $1 million H2 Refuel H-Prize competition to create small- to medium-scale hydrogen refueling systems. The systems could be home-scale systems that produce hydrogen using utilities at home for refueling, or medium-scale systems to supply locations such as retail centers, apartment complexes or small fleets. The DOE sees hydrogen fueling infrastructure as the biggest obstacle to fuel-cell vehicle adoption and putting the production and refueling in the hands of the consumer could be a way around that obstacle. Read more at Energy.gov and at Green Car Congress. Hyundai has announced a new six-speed automatic transmission with integrated electric motor for new hybrid models. The new configuration puts most of the hybrid powertrain components within the transmission, and the torque converter has been eliminated. The new engine clutch reduces drag with fewer clutch discs, and the mechanical oil pump has been replaced with an electric one. The result is fewer energy losses, improved efficiency and greater mileage. Read more at Hybrid Cars in Reuters or in the press release from Hyundai below. Zelectric Motors has completed its electric 1966 Volkswagen Beetle rebuild, and has put it up for sale. The '66 ZelectricBug, as it's called, is powered by a 50-kW electric motor and 20-kWh battery pack, and offers 120 pound-feet of torque. It has a range of 80 miles, and is capable of at least 100 mph. The stock transmission has been rebuilt. It also has some new goodies like high-performance sway bars, custom shocks, and LED lighting. The '66 ZelectricBug is priced at $45,000. Check it out in the video below and read more at Hybrid Cars. A startup called Alevo says it will build a billion-dollar factory in North Carolina to make longer-lasting lithium iron phosphate batteries. Alevo has purchased an old cigarette factory in Concord for $68.5 million, but it's unclear whether or not the company has secured the $1 billion investment to begin producing batteries. The company plans to create 2,500 to 6,000 jobs and produce several gigawatts worth of batteries per year, which is a tall order for a relatively unknown company. Read more at Gigaom, or in Alevo's press release below. Tesla owners in Shanghai will be exempt from the city's $12,000 registration fee. About 400 people have already received the free license plates in Shanghai, where the government wants to encourage alternative fuel vehicles.