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Hyundai plans to catch up with other automakers, offer EVs

YONGIN, South Korea (Reuters) - South Korea's Hyundai Motor Co is developing its first dedicated architecture for electric vehicles, seeking to catch up with the likes of Tesla in the growing segment with multiple, long-range models. While the platform will not be completed soon, Hyundai Motor and affiliate Kia plan to roll out small electric sport utility vehicles (SUVs) based on an existing underpinning next year, said Lee Ki-sang, who leads Hyundai-Kia's green cars operations. Hyundai will launch an electric SUV, followed by a sibling model by Kia Motors next year, Lee said, citing strong demand for SUVs. The subcompact or compact models would have a range of more than 300 km (186 miles) per charge, and would be "more competitive" than rival offerings, Lee said. And Hyundai said in a statement on Thursday that it plans to launch a new luxury electric vehicle under its Genesis marque in 2021, after introducing a plug-in hybrid version of an unidentified Genesis model in 2019. The separate platform represents a major push into the battery electric-car segment for a firm which has long trumpeted rival fuel-cell vehicles, reflecting strong investor pressure to compete more vigorously in a market that has been stimulated by U.S.-based Tesla's longer-range models. And tough fuel-economy and emissions regulations in the United States, Europe and China are compelling automakers to push fuel-efficient cars even though low oil prices have undercut demand. Hyundai's electric-car platform would allow the automaker to install a battery pack in vehicle floors to accommodate more battery capacity and maximize cabin space, Lee said. "The electric-vehicle platform will require high up-front investments, but we are doing this to prepare for the future," he said at Hyundai-Kia's green car research center in the city of Yongin, outside Seoul. He did not reveal the cost. Lee, a senior vice-president at Hyundai Motor, was speaking during an interview on the eve of an auto show that kicked off in Seoul on Thursday. Analysts said Hyundai had no choice but to build separate electric-vehicle platforms to be relevant in the segment. "The separate platform may incur losses initially, but Hyundai will be left behind the market if they don't offer long-distance models, like 300 km, 500 km and 600 km," said Ko Tae-bong, an analyst at Hi Investment & Securities.

Hyundai, Kia expanding plug-in vehicle line-up in Korea

Hyundai is shedding a bit of light on its electric vehicle plans. About time, too, since the company has spend a long period being quite vague about plugging in while touting its hydrogen plans. The Hyundai and Kia brands will both release their first plug-in hybrid vehicles next year in Korea; an all-electric version of the Kia Soul will roll out in May of this year and a mid-size electric vehicle will be launched as early as next year. Test versions of the Hyundai i10 electric vehicle have been on Korean roads since first being used at the G20 summit in Seoul in 2010. There have been hints about an electrified Hyundai coming to America, and at the Washington Auto Show last week, Michael O'Brien, vice president of corporate and product planning for Hyundai Motor America told AutoblogGreen that a new EV will be coming to the US market sometime within the next three years. A Hyundai executive told Korean national daily The Chosunilbo that the company will be significantly increasing its investment in hybrids and EVs to roll out a few eco-friendly models starting in 2015. It's hard to say which of these might come to the US market – a new LF Sonata will be coming out in both a regular gasoline and hybrid system in Korea; the US already has the Sonata Hybrid for sale. As for plug-in hybrids, Hyundai said that there will be both Sonata and Kia K5 (Optima) models coming out next year. These will also be the first-ever plug-in hybrids in the Korean market. Featured Gallery 2012 Hyundai Sonata Hybrid View 13 Photos News Source: The Chosunilbo Green Hyundai Kia Electric Hybrid Hydrogen Cars PHEV

Kia Soul EV will go on sale in four more US states

Live from New York, it's the Kia Soul Electric Vehicle! The South Korea-based automaker believes its first mass-produced EV is a ready-for-prime-time-player and will start selling the EV in the Empire State during the fourth quarter. Kia will also expand Soul EV sales to New Jersey, Connecticut, and Maryland, giving the model some pretty good coverage along the Eastern Seaboard. Perhaps those funky hamsters will find yet another reason to rock out. The expansion may be a sign that Americans are gravitating to the Soul EV as quick or quicker than expected. The model delivers 109 horsepower and, probably more importantly, a single-charge range of 93 miles. Kia started selling the Soul EV in California late last year. Then, earlier this year, distribution was expanded to Georgia, Texas, Oregon, Washington, and Hawaii. Additionally, the Soul was given the first-ever Canadian Green Car of the Year Award. The car sells for a base price of $33,950, and that's before any federal tax incentives kick in. Additionally, Kia may be coming out with a "more" base model that cuts that price by another $2,000. With the fed's help, that could bring the cost down into the $24,000 range, Some states have their own incentives as well. As for New York, eight dealerships will start selling the Soul EV, while six New Jersey dealerships will also have that honor. Take a look at Kia's press release below and go here for our Quick Spin impressions of the car. Related Videos: