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Hyundai analyzes 12 trends that will shape the world of 2030

Hyundai announced this year the start of Project Ioniq, its attempt at figuring out what the world of 2030 will be like. Of course the project would also use that information to determine how that world will affect the transportation industry. And it happens to share its name with the company's newest eco-friendly model. The first part of Project Ioniq is under way with the Ioniq Lab. This lab will be run by Dr. Soon Jong Lee, a professor at Seoul National University. Lee is also in charge of the Korea Future Design and Research Institute, and ten researchers and ten consultant experts will assist him on the project. Phase one has now yielded what Hyundai sees as 12 "megatrends" that will affect how the world changes and develops in 2030. This will in turn affect what people are looking for as far as transportation and mobility, and may inform what technologies and segments Hyundai invests in the future. The 12 megatrends are as follows: Hyper-connected Society Hyper-aging Society Eco-ism Multi-Layered Mash-up Context-awareness-based Individualization High Concept Society Decentralization of Power Anxiety and Chaos Sharing Society Co-evolution Mega-urbanization Neo-frontierism The team has detailed descriptions of each megatrend, and they are interesting, but we'll try to sum up all twelve of them for you here. If you want to check out all the details, be sure to check out the press release at this link. Overall, we're looking at a world where there are many more old people, and a large majority of the population will live in urban areas. Not everyone will live in urban areas, and some people may have new living opportunities because of advancements in aerospace and aquatic engineering. It will be a much more diverse world as well that we will be even more connected with, sharing information more and more. This will make understanding what people share and how they do so vital. Society will also start sharing everything much more, something akin to Uber and ZipCar today, but expanded. Companies will be looking to combine technologies and collaborate more to be involved in a wider array of businesses. The environment as well as cyber crimes and terrorism will remain ever-present issues. We will also see the development of significantly more capable robots and artificial intelligence.

Hyundai, Kia to temporarily close U.S. plants in path of Irma

SEOUL — South Korea's Hyundai and sister car maker Kia said on Monday they planned to temporarily shut down plants in the United States to avoid potential damage from Hurricane Irma. The shut down comes at a time Hyundai's U.S. sales have fallen more than the market average, and after it recently announced plans to expand its SUV lineup and launch a pickup truck in the market in an attempt to reverse the slide. In a statement, Hyundai Motor said it would suspend operation of its Alabama plant for two days - between Monday and Wednesday — while Kia Motors will stop operation of its Georgia plant for one day - between Monday and Tuesday. The suspension is expected to result in lost production of about 3,000 vehicles for both, the Yonhap news agency earlier said on Monday, citing a Hyundai Motor group spokesman. A Hyundai spokeswoman declined to comment on the number. Hurricane Irma took aim at heavily populated areas of central Florida on Monday as it carved a path of destruction through the state with high winds and storm surges that left millions without power, ripped roofs off homes and flooded city streets. Hyundai's U.S. sales are down nearly 11 percent this year through July 31, worse than the overall 2.9 percent decline in U.S. car and light truck sales. Sales of the Sonata, once a pillar of Hyundai's U.S. franchise, have fallen 30 percent through the first seven months of 2017. In contrast, sales of Hyundai's current SUV lineup are up 11 percent for the first seven months of this year. Reporting by Joyce LeeRelated Video: Plants/Manufacturing Hyundai Kia alabama

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: