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Hyundai spooks investors by paying $10B for new Gangnam HQ location

Doing things Gangnam style apparently costs a serious chunk of change, because Hyundai is reportedly paying roughly $10 billion for 19.6 acres (79,342 square meters) of land in the trendy district of Seoul, South Korea, to serve as the location for its new headquarters. That eye-popping number represents the highest amount ever paid for a plot of land in South Korea, according to Reuters. The hefty price tag reportedly scared investors enough for stock prices to sink dramatically.
Shareholders were apparently upset because the massive outlay could instead have been put back into the company for research and development or other improvements. Instead, the company reportedly bid triple the land's appraised value, says Reuters. The announcement caused Hyundai's stock price to plummet a massive 9 percent, and there were losses from Kia and the company's parts arm, as well. All told, the three of them lost nearly $8 billion in value from the falling share prices - almost enough to pay for the controversial land.
Hyundai currently has its headquarters on the outskirts of Seoul, but seems keen to move to the high-end Gangnam district to show off its rising status. It plans to build a new office complex, hotel, convention center and theme park on the site. According to an analyst speaking to Reuters, that could all cost an additional $6 billion to complete.

Hyundai Motor Group reveals the E-GMP modular electric platform

Just as Volkswagen has the MEB platform for its ID. line of electric cars, Hyundai Motor Group is launching a modular architecture of its own. It's called E-GMP for "electric-global modular platform," and the motor and battery powertrain is called PE for "power electric." These components will underpin models from Hyundai, Kia, Genesis and the new Ioniq brand. The first to launch with it will be the Ioniq 5. One of the interesting aspects of this platform is that it will be designed with rear-wheel drive in mind. Like VW's and Tesla's EVs, the basic layout will feature a rear-mounted motor powering those back wheels, and the battery pack fits in the floor between the wheels. All-wheel drive will be available on some of these models with the addition of a second, front-mounted motor. That front motor will be able to mechanically disconnect from the front drive axles when not needed, allowing for less mechanical drag and more efficient driving. Hyundai is promising impressive performance from the E-GMP and its batteries and motors. The company claims that a car built on the platform could be capable of 0-62 mph sprints of 3.5 seconds with a top speed of about 162 mph. This will vary depending on motors, and Hyundai Motor Group revealed that there are three outputs of motor in development. Maximum range is expected to be 311 miles on the WLTP cycle. Hyundai didn't give exact power outputs or battery capacity in kWh, though. The battery pack is made up of standardized modules that can be added or subtracted depending on the needs of the vehicle, and the individual cells are pouch-type, similar to what GM is using in its Ultium batteries. The E-GMP cars will also support fast charging up to 800V and 350kW, so an 80% charge from empty could happen in just 18 minutes. Two-way charging will also be supported, so your electric Hyundai or Kia could provide up to 3.5kW of power to various appliances or even to another EV. Hyundai says you could run a "midsize" air conditioner and a 55-inch TV for up to 24 hours with an E-GMP car. Hyundai 45 View 14 Photos We won't have to wait long to see the first car based on this platform. The Ioniq 5, which will take design inspiration from the Hyundai 45 concept, will launch next year. The Ioniq 6, based on the Hyundai Prophecy concept, will come in 2022 and the Ioniq 7 in 2024. The first Kia model will be a crossover revealed next year, and it will have a performance variant.

Autoblog's Editors' Picks: Our complete list of the best new vehicles

It's not easy to earn an “EditorsÂ’ Picks” at Autoblog as part of the rating and review process that every new vehicle goes through. Our editors have been at it a long time, which means weÂ’ve driven and reviewed virtually every new car you can go buy on the dealer lot. There are disagreements, of course, and all vehicles have their strengths and weaknesses, but this list features what we think are the best new vehicles chosen by Autoblog editors. We started this formal review process back in 2018, so there's quite of few of them now. So what does it mean to be an EditorsÂ’ Pick? In short, it means itÂ’s a car that we can highly recommend purchasing. There may be one, multiple, or even zero vehicles in any given segment that we give the green light to. What really matters is that itÂ’s a vehicle that weÂ’d tell a friend or family member to go buy if theyÂ’re considering it, because itÂ’s a very good car. The best way to use this list is is with the navigation links below. Click on a segment, and you'll quickly arrive at the top rated pickup truck or SUV, for example. Use the back button to return to these links and search in another segment, like sedans. If youÂ’ve been keeping up with our monthly series of the latest vehicles to earn EditorsÂ’ Pick status, youÂ’re likely going to be familiar with this list already. If not, welcome to the complete list that weÂ’ll be keeping updated as vehicles enter (and others perhaps exit) the good graces of our editorial team. We rate a new car — giving it a numerical score out of 10 — every time thereÂ’s a significant refresh or if it happens to be an all-new model. Any given vehicle may be impressive on a first drive, but we wait until itÂ’s in the hands of our editors to put it through the same type of testing as every other vehicle that rolls through our test fleet before giving it the EditorsÂ’ Pick badge. This ensures consistency and allows more voices to be heard on each individual model. And just so you donÂ’t think weÂ’ve skipped trims or variants of a model, we hand out the EditorsÂ’ Pick based on the overarching model to keep things consistent. So, when you read that the 3 Series is an EditorsÂ’ Pick, yes, that includes the 330i to the M3 and all the variants in between. If thereÂ’s a particular version of that car we vehemently disagree with, we make sure to call that out.