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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.

Nine things we learned driving the 2017 Hyundai Elantra [w/video]

You know how there are pretty much no bad cars anymore? Manufacturers have switched their efforts from eradicating badness to improving on good things. If the last Elantra had any real issues, it rode kind of poorly and had a so-so interior. This 2017 model fixes that while quietly improving on just about everything else too. Not a lot of it is noticeable on its own, but it adds up to a better car. Read our full First Drive for the usual impressions, or if you prefer, take them in via this new format we're trying out. Cutting right to the chase, here are nine things we learned from our time in the 2017 Hyundai Elantra. It looks like three or four other cars, but that's a good thing. The old model of derivative styling took a few well-known designs as inputs and spat out a bland object reminiscent of nothing and everything at once. Because there are no new ideas, and since recycling is a thing, designers have thankfully moved on to picking and choosing the pieces that work best and knitting them together into a cohesive design. On this Elantra, that means some Dodge Dart (RIP) in the hood and front fenders, a bit of Jaguar in the headlights, and hints of Mazda in the way the front end comes together. The result is handsomely inoffensive – less character than the last Elantra, maybe, but it all works. And the interior is a big step up in terms of materials, layout, and design. Have a look at our 360-degree VR overview below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. It will talk to your phone. Every Elantra but the basiest base car comes with a touchscreen head unit. On models with the Popular Equipment Package, that's a seven-inch head unit with normal radio functions plus Apple CarPlay and Android Auto functionality. The Limited with Tech Package swaps that out for an eight-inch display with nav and the same smartphone projection powers. The ride is better than the last Elantra's. The front and rear suspensions have both been tweaked for the 2017 model, and the car is supposed to be much more rigid. It's most noticeable over big bumps; the car doesn't shudder like it used to and the suspension manages body movement well in almost all situations. There's still some body roll, but the front seats have surprisingly large bolsters that keep you in place. The steering is as numb as most other electric systems, although it does feel less artificial than on previous Hyundais.

Hyundai Santa Cruz, Kona N and Elantra Hybrid | Autoblog Podcast #691

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by West Coast Editor, James Riswick. They've been driving a lot of new cars, including the 2022 Hyundai Santa Cruz pickup, 2022 Hyundai Kona N, 2021 Hyundai Elantra Hybrid, 2021 Acura TLX Type S and 2022 Hyundai Genesis G70. Lamborghini revealed a modern interpretation of the Countach, for better or worse. Finally, they heelp a listener replace a 2013 Ford Edge in this week's "Spend My Money" segment. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #691 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving: 2022 Hyundai Santa Cruz 2022 Hyundai Kona N 2021 Hyundai Elantra Hybrid 2021 Acura TLX Type S 2022 Hyundai Genesis G70 Lamborghini Countach LPI 800-4 revealed Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related Video: