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Hyundai reveals CEO's pay for first time ever

Thanks to some government pressure, Hyundai's billionaire chairman, Chung Mong Koo, has revealed just how much he gets paid each year. Honestly, the amount is a bit lower than we'd expect considering he helms such a huge industrial empire. The 76-year-old chairman brought home $13 million in 2013, $5.2 million of which came from Hyundai's automotive business while both Mobis and Hyundai Steel chipped in $3.94 million, each. For reference, Ford CEO Alan Mulally netted $23.2 million in 2013, although the vast majority of that money came from stock options.
The push for Chung to reveal his pay was part of a larger effort by the South Korean government called the Financial Investment Services and Capital Markets Act. The act forces several thousand companies to release info on annual pay, bonuses and severance for employees earning over $5 million won ($469,000), according to Bloomberg.
"With the disclosure of the executives' compensation, the pressure to deliver better profits will increase," said Heo Pil Seok, the CEO of Midas International Asset Management. It seems to be working, as Hyundai shareholders, of which Midas is one, have seen their shares increase by 6.1 percent in 2014, which includes a 1.2-percent jump as of yesterday, according to Bloomberg.

South Korea island of Jeju becoming an EV-incentive heaven

When it comes to providing some island EV love, we can point to Hawaii, which has been pushing hard for greater electric-vehicle adoption through subsidies and a broader charging network. Now, South Korea has Jeju. We're not sure if the surf is as good. Like Hawaii, Jeju is focusing on a "carbon-free" existence and lowered fossil-fuel dependency as a way to help the environment while addressing the extra expenses involved in providing fuel locally, Wards Auto says. Jeju, which is about 720 square miles, provides about $7,000 worth of EV incentives on top of those provided by the South Korean government. As a result, the cost of buying an EV can be cut in half. In the case of a Chevrolet Spark EV, going electric actually has a lower out-of-pocket price tag than buying a gas-powered counterpart on the island. South Korea's Ministry of Environment has earmarked about $14,000 in subsidies for each EV purchase, while 10 South Korean cities are adding on incentives anywhere from about $2,800 to $7,400 per vehicle. South Korean automaker Hyundai and affiliate Kia are just starting to do their part to boost the country's EV sales, which didn't even break the 800-unit mark last year. Kia recently said it will start making its 2015 model-year Soul EV in April, with sales debuting in South Korea by the end of the year. Hyundai is said to start selling its own EV starting in 2016. News Source: Wards AutoImage Credit: Korean Tourism Organization Government/Legal Green Hyundai Kia Electric incentives tax incentives island

2014 Kia Cadenza

Teenage passengers are often among the first people I turn to for second opinions about a test vehicle. While they understandably aren't allowed behind the wheel - most aren't even old enough to drive - their honest and generally unbiased observations, coupled with a complete lack of understanding about what a particular vehicle costs, can provide a wealth of insight.
An open-minded approach is especially important when taking a closer look at the 2014 Kia Cadenza, a premium sedan from an automaker best known for providing affordable transportation for entry-level buyers. But unlike the Rio and Forte, low-priced compacts designed to cater to consumers looking for fuel economy and value, this more substantial four-door sedan asks for twice the out-of-pocket investment in exchange for promises of luxury and technology.
With an impartial mindset and a genuine curiosity, I recently spent a week with the more substantial Cadenza to see if it could live up to its aspirations.

Kia Soul EV starts production next month amidst modest sales projections

The hamsters in those Kia Soul commercials? Looks like they'll be riding real quiet and quite clean a little sooner than we thought. Kia is now saying it will start production of the 2015 Soul EV next month, and sales will start later this year in the company's home country of South Korea. Additionally, according to Reuters, Kia is keeping sales expectations low, suggesting it should sell about 5,000 Soul EVs a year at a price of around $39,000, though the out-of-pocket costs should be cut in half because of South Korean government subsidies. Kia's taking a somewhat conservative approach to its early sales target as it focuses largely on the US and Europe during its first phase, said Kia spokesman Michael Choo. "We are currently conducting launch feasibility studies for the secondary phase of Soul EV introduction and plan to expand sales to other countries at a later stage," he said. "Hence, we believe the sales volume of the Soul EV will steadily grow following our initial full year of sales." As for the US, Kia spokesman James Hope tells AutoblogGreen that while the company hasn't set a definitive debut date, "we are targeting Q3 of this year." Hope says Kia isn't providing Soul EV sales guidance for the US, so we'll just have to see where the EV chips fall come September or so. Reuters also notes that sister company Hyundai will start selling its own battery-electric vehicle in 2016, a timetable confirmed by Hyundai Senior Vice President Lee Ki-sang. Both Kia and Hyundai are shooting for a South Korean electric-vehicle market that they hope will expand exponentially from a total of just 713 sales last year. The front-wheel-drive Soul EV will have a 81-kilowatt electric motor, and its single-charge range will be about 120 miles. The model was first shown off at the Chicago Auto Show last month, but Autoblog scored an early prototype test drive ahead of the reveal – check out our feature drive report here. Kia Motors shows Soul EV and next-generation hybrid powertrain at Geneva Show (SEOUL) March 4, 2014 -- The new Kia Soul EV made its European debut at the 84th Salon International de l'Automobile in Geneva, Switzerland, today alongside a special technology exhibit of the brand's next-generation hybrid powertrain.

Kia says fewer than 30% of its dealers will get 2015 K900

Kia is moving into unknown territory with its $60,000 K900 luxury sedan in many ways. Not only will it act as the company's flagship model, it will be the Korean brand's first in the US with rear-wheel drive and a V8 engine. The first batch will hit showrooms in March, but according to Edmunds, it will be a soft launch in some ways, because only around 30 percent of dealers have paid a premium to sell the plush ride.
Kia has sent the selected dealers back to school to make sure they are prepared to sell the K900 to the industry's famously finicky luxury sedan buyers. The company believes its flagship model will be "a catalyst in support of our long-term strategy to elevate the ownership experience," said James Hope, Kia's National Manager for product communications, to Autoblog in an email. According to Edmunds, the dealers paid about $30,000 each in required training, tools and showroom displays. It wants the improvements to "shift the culture" in its dealers to be ready to welcome luxury buyers, according to Hope. Kia Director of Public Relations Scott McKee told Autoblog that the brand expects buyers to be "independent thinkers" from a blend of current Kia owners stepping up to the K900 and conquests from other luxury brands.
Kia has been slowly building awareness of the K900, especially with its Super Bowl ad, but it still has a long road ahead of it to prove what makes it crown jewel different. The company believes more dealers will sign up to sell it once public awareness for the new sedan grows. "There has never been a better time to challenge the status quo," said Hope. Also, a V6 model will launch in the future at a lower price, which should bring more people into the updated showrooms. Given what Kia has accomplished in the US in the last 20 years, it would be foolish to count the K900 out, but that doesn't mean it will be easy to break into the luxury sedan market.

A closer look at the 2015 Kia Soul EV

Kia is set to join the fully electric vehicle space this year, with the fresh-faced 2015 Soul EV. The all-electric Soul made its debut at the Chicago Auto Show earlier this month, and Autoblog west coast editor Michael Harley had a chance to speak with Orth Hedrick, Kia's vice president of product planning, about the new electrified hatchback. In its standard form, the Kia Soul offers tons a wealth of functionality with its upright packaging, and with a new 81-kilowatt electric motor underhood, the electric vehicle should be good for between 80 and 100 miles of driving range. Charging times vary from as long as 24 to five hours, depending on your setup, and Kia is partnering with Bosch, Leviton and AeroVironment to provide different charging solutions, depending on a customer's specific needs. Take another, closer look at the 2015 Kia Soul EV in the video, below.

2014 Kia Sorento

For most new car shoppers, three-row crossovers are little more than a way for the family-minded to avoid succumbing to the minivan stigma. Admit it - the only things that differentiate most larger CUVs from minivans are their lack of sliding side doors and - on most of them - the option of all-wheel drive. Having blossomed into a popular segment with thicker profit margins, though, automakers have plenty of incentive to keep their offerings fresh, and that's exactly why Kia is presenting its 2014 Sorento so soon.
At first glance, the crisply styled utility vehicle seen here appears to be nothing more than a mid-cycle refresh - and not a particularly extensive one, at that. But that's not the case at all. Despite looking very similar to the second-generation vehicle that came on the scene for the 2010 model year, this is an all-new Sorento. Or, more precisely, it's about 80-percent new. Kia says less than 20 percent of the parts have been carried over from the 2013 Sorento, and that's a pretty typical amount for an 'all-new' vehicle generation.
Since we've yet to spend quality time with the "Made in the USA" Sorento for more than a short First Drive in Arizona last February, we snagged the keys to a 2014 model in the all-new SX Limited trim level for a lengthy backroad sojourn from Florida to South Carolina.

Refreshed Kia Optima Hybrid continues to blend good looks and efficiency

With all the excitement at the Kia stand surrounding the new Soul EV, it's easy to forget that there were other cars on display at the Korean marque's Chicago Auto Show display. The Niro Concept from the Frankfurt Motor Show made an appearance, but the other production model on display was the refreshed Optima Hybrid (which was tucked away in a corner).
Like the standard Optima, which was refreshed at the 2013 New York Auto Show last year, the hybridized sedan gets a slightly restyled face and rear end. As we told you in our official post on the car yesterday, the gas-electric powertrain of the 2014 Optima Hybrid still deploys 199 total system horsepower and 235 pound-feet of torque. Buyers of the base LX car will net 36 miles per gallon in the city and 40 on the highway, while the upmarket EX loses a mile per gallon in both environments.
Have a look at our live gallery of the new Optima Hybrid, from the floor of the Chicago Auto Show.

2015 Kia Soul EV whirrs in to the Windy City

Earlier this week, we got our first glimpse of the 2015 Kia Soul EV out on the road, completely uncovered. And even before then, executive editor Chris Paukert had the opportunity to drive a camouflaged electric Soul prototype on Kia's home turf in Korea. But now, finally, officially, the electron-happy Soul makes its debut at the Chicago Auto Show.
Powering the Soul EV is an 81-kilowatt electric motor that sends 109 horsepower and 210 pound-feet of torque to the front wheels. That's not immensely powerful, with Kia quoting a 0-60 time of "fewer than 12 seconds," but we're big fans of the instant torque thrust that EVs like the Soul provide. Top speed is electronically limited to approximately 90 miles per hour.
Kia says the Soul EV is good for roughly 80 to 100 miles of driving range.

2014 Kia Optima Hybrid shows its freshened face

Think back to the 2013 New York Auto Show, and you'll recall that the already attractive Kia Optima midsize sedan was re-schnozzed for the 2014 model year. The hybrid version was left alone, visually, though its powertrain was updated to provide more oomph and slightly better fuel economy. And now, the whole thing comes full circle - the fresh-faced 2014 Optima Hybrid is making its debut here at the Chicago Auto Show.
The new look is really the only news here, with a reworked front fascia that combines restyled Hybrid-specific LED lighting elements and new enhancements that Kia says improves aerodynamics. A similar touch-up has been given to the rear end, and new 16- and 17-inch wheel designs are also available.
Under the hood, the Optima Hybrid's powertrain is unchanged, the four-cylinder gasoline-electric system still putting out a combined 199 horsepower and 235 pound-feet of torque. Fuel economy is also unchanged for 2014, with the LX model estimated to achieve 36/40/38 miles per gallon (city/highway/combined), and the higher-grade EX estimated to net 35/39/37 mpg.