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Kia to launch four-door coupe next year

Kia has been toying for some time with the idea of building a sporty four-door model. But according to the latest reports from Seoul, the Korean automaker intends to stop showboating and finally put one into production. And it could come as early as next year. Reuters reports that the project known internally as CK will join Kia's lineup as its second rear-drive model, alongside the larger K900. Power would reportedly come in from engines displacing 2.0, 2.2, and 3.0 liters. The target would apparently be the BMW 4 Series Gran Coupe, but with a sportier, more youthful edge. That's something which Kia has been keen to capitalize on since the success of the Soul. It took similarly unconventional approaches with the new Sportage and the recent Telluride concept, but has not managed as of yet to transfer that youthful, unorthodox vibe to the lower-slung side of its lineup. With parent company Hyundai having recently launched the Genesis premium sub-brand, the sporty, young image could be left for Kia to pursue. Only time will tell if Toyota's abandonment of its Scion brand will leave room for Kia to swoop in, or if it'll be a dead end. Reuters anticipates the new Kia to launch in May 2017, with a targeted annual production of 60,000 vehicles worldwide. Expect some elements to carry over from recent four-door coupe concepts like the Novo (pictured) from last year and the GT concept of 2011. Reports have been circulating since then that the latter would reach production. Related Video:

Hyundai predicts 250-mile electric vehicle by 2020

Hyundai will start selling a battery-electric version of its Ioniq in the US later this year, but the company is ready for much more. Hyundai is forecasting having an EV with a 250-mile single-charge range by the end of the decade. Hyundai executive Ahn Byung-ki told Automotive News that, while electric-vehicle technology development has been steady during the past six years, it will accelerate during the next two. Think of it as the "hockey stick" effect, but for South Korean automakers instead of Silicon Valley tech giants or Canadian hockey players. The Ioniq, which will also get plug-in and hybrid variants, will have a single-charge range of 110 miles when the EV version arrives in November. After that, Hyundai and its Kia and Genesis sister companies may develop a 200-mile range EV for 2018, and then that 250-mile-range car for 2020. Byung-ki isn't concerned that the Ioniq will quickly be outdated because the longer-range vehicles will also be priced higher. The Hyundai executive also said the company had no plans to take on Tesla Motors in the luxury EV market. The Ioniq EV was unveiled at the New York Auto Show this past March. A hybrid version of that sedan debuted in South Korea in January, while the EV went on sale in South Korea last month. Overall, Hyundai, Kia, and Genesis are planning to introduce 10 hybrids, eight EVs, eight plug-in hybrids, and two hydrogen fuel-cell vehicles by the end of the decade. The Hyundai group's only electric vehicle currently sold in the US is the Kia Soul EV, which has a single-charge range of 93 miles as well as some dancing hamsters in its commercials. Neither the Tesla Model 3 nor the Chevrolet Bolt can make that second claim. Related Video:

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.