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Hyundai, Kia announce buyback plan for angry Korean investors

Hyundai's controversial decision last September to move its Korean headquarters to an expansive (and expensive) new facility was met with a swift backlash by shareholders. After making the biggest land purchase in South Korean history, the company's share price took a nine-point nose dive.
Now, in a bid to get back in the good graces of its stockholders, Hyundai and its subsidiary, Kia, will make a $615-million stock buyback plan. Reuters claims this is the first time in ten years that Hyundai has made a buyback offer with the explicit purpose of pumping up share prices.
The total deal bumped up Hyundai's share prices 5.7 percent while Kia is up two percent, although neither company has fully recovered from the battering that followed the headquarters announcement. It's unclear what else it will take for Hyundai to recover the ground it lost during the land deal.

Which car companies are creating new jobs in America?

Since January, automakers have announced investments totaling $9.5 billion in U.S. plants, creating or retaining more than 12,000 jobs. Some of those companies have yet to announce just how many jobs will be created given their investments, with the location of many of those jobs still to be determined. Specifically, the 4,000-job Toyota-Mazda joint venture plant still hasn't announced its location, with numerous states jockeying for it. Hyundai has plans to invest $1 billion but has not announced a jobs number yet. And likewise Ford is investing $1.2 billion in Michigan without specifying a number of jobs. Volvo this week announced plans to add a second line to its factory under construction in South Carolina, spending another $500 million and adding 2,500 jobs to the 2,000 it was already trying to fill. Then Thursday, Daimler announced a $1 billion expansion to its facility in Tuscaloosa, Ala., to produce EV batteries and electric SUVs, a move that will add 600 jobs to its hiring this year. Above, we've created a handy pie chart showing you which companies have announced new jobs and how many there will be. Reporting by Paul Lienert in Detroit News Source: Reuters Plants/Manufacturing BMW Chrysler Ford GM Honda Hyundai Mazda Mercedes-Benz Toyota Volvo jobs

Recharge Wrap-up: Alguersuari out for Formula E season 2, hydrogen range test video

A pair of hydrogen proponents drove a Hyundai Tucson Fuel Cell 1,480.73 miles in 24 hours. Arnt-Goran Hartvig and Marius Bornstein, nicknamed The Viking and The Scientist, drove a 186-mile route in Germany repeatedly as many times as they could over the course of a full day to set the distance record. The advantage of short refueling times for the hydrogen vehicle helped the duo spend more time on the road. See the video above, and read more from Hybrid Cars. Jaime Alguersuari will miss the second season of Formula E. His license was suspended after fainting at the end of the Moscow ePrix, and he is still waiting for a diagnosis. "During the month of July I underwent several tests for which there has not been a medical resolution and I am still waiting for the final diagnosis," says Alguersuari. "For this reason I need to announce that, unfortunately, I will not be able to take part in the FIA Formula E Championship for the 2015/16 season with my team DS Virgin Racing." The former Formula 1 driver will make an announcement about his future in September. Read more at Autosport. Jeb Bush has come out against the Renewable Fuel Standard. In an interview in an Iowa Falls Dairy Queen, the Republican presidential hopeful gave his opinion about the ethanol mandate. "The best way to get to energy security, in my mind, is letting the markets work," says Bush. "So the RFS has had great success, and over a period of time I think it has to be phased out." Ditching the ethanol mandate could hurt Bush in the important corn-growing state of Iowa, though he thinks his record as Florida governor will help his status with voters. Read more at Grist, and from KCCI.