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Hyundai promoting younger execs in bid to 'smoothen an eventual leadership succession'

Experience versus the next generation. It's the decision any organization has to make when it comes to its succession of leadership. But even companies that value wisdom over vitality will eventually have to hand the reins to a new generation of leaders. And that seems to be what the Hyundai Motor Group is preparing for. The Korean automaker has promoted three executives in their early 50s to the rank of Executive Vice President. Chief marketing officer Cho Won-hong (50), PR chief Kong Young-woon (50) and Kim Gyun (52), head of strategic planning at Kia, are all being promoted to the role, putting them in senior leadership positions at one of the world's largest automakers. Reuters frames the promotions as earmarked to "smoothen an eventual leadership succession" at Hyundai. The family-owned company is currently chaired by Chung Mong-koo (76), who has given little indication that he's preparing to step down in the near future. But when he does, he's widely expected to relinquish control to his only son, current vice-chairman and former Kia president Chung Eui-sun (44, pictured), who is said to have chosen the aforementioned US-educated Cho for the promotion. News Source: ReutersImage Credit: SAMUEL KUBANI/AFP/Getty Hirings/Firings/Layoffs Hyundai Kia

Hurricane Sandy cost automakers 15,000 vehicles, may have ruined up to 200k

Hurricane Sandy was the largest Atlantic storm in US history, and its total economic impact is just now coming into view. According to Automotive News, Toyota, Chrysler, Nissan and Honda are set to scrap around 15,000 new vehicles ruined by the storm. Nissan alone accounts for about 40 percent of those, with 6,000 Nissan and Infiniti models deeded "un-saleable" due to damage. The company saw 56 dealerships shuttered due to the storm, but 51 of those have since reopened.
Toyota, meanwhile, had some 4,000 vehicles at its Newark port facility, and of those, 3,000 may be scrapped. An additional 825 were dealer inventory when they were ruined. Honda and Acura dealers are reportedly sending 3,440 vehicles to the salvage yard. By comparison, Chrysler weathered the storm fairly well with 825 units destroyed, while Hyundai suffered only 400 lost units and Kia scrapped around 200.
As you may recall, Fisker also suffered some losses, and Automotive News reports the manufacturer saw 320 Karma models damaged beyond repair. Ford and General Motors have yet to come up with estimates, and no automaker has commented on the full cost of replacing the vehicles.

Here are all the EVs with 800V charging available in 2024

As technology advances, electric cars are improving their fast-charging times. That means less time spent waiting at a DC public charger when you’re out on the road. While Level 3 chargers used to provide a maximum of 150 kilowatts of power, 350-kW chargers are become more common, making for super-fast charging Â… if your car is capable of taking advantage of it. So how do automakers improve the charging speed of their EV batteries? Some are turning to higher voltage, specifically 800V charging. What's the difference between 800-volt charging and 400-volt charging? So how does 800V charging improve upon the more common 400V EVs? Put simply, the higher the voltage, the less amperage (current) it requires to charge. In other words, with more voltage, you get more wattage (power, aka charge rate) from the same amperage (current). 800V architecture is also more efficient, with less electrical resistance, so it can use thinner cables and smaller, lighter components while needing less cooling. The tradeoff is that it is more costly, and guess who that cost gets passed on to. While automakers don't break down their pricing to show how much more you're paying for that 800V system, you'll just have to evaluate any potential purchases as a whole, and make your decision based on overall pricing of the vehicle. Thankfully, the 800V EVs on sale now are generally ones we like. Now, 800V charging capability doesn't necessarily mean an EV has 800V vehicle architecture. For instance, the GMC Hummer EV and Chevy Silverado EV operate at 400V, but with their dual battery packs, can switch to 800V when charging by temporarily connecting those packs in series. Currently, there are only a handful of EVs available with 800V charging. But if you are going to find yourself taking longer trips in your EV and using DC fast chargers more often, you might want to consider choosing one with this faster charging capability. With that in mind, these are the EVs available with 800V charging, either on sale now or coming in 2024. 800-volt EVs available in 2024 Audi E-Tron GT Chevrolet Silverado EV Genesis GV60 Genesis Electrified G80 Genesis Electrified GV70 GMC Hummer EV Pickup GMC Hummer EV SUV GMC Sierra EV* Hyundai Ioniq 5 Hyundai Ioniq 6 Kia EV6 Kia EV9 Lotus Eletre* Lotus Emeya* Lucid Air Lucid Gravity* Porsche Macan Electric* Porsche Taycan Ram 1500 REV* Tesla Cybertruck *Coming later in 2024 Green Audi Chevrolet Genesis GMC Hyundai Kia Lotus Porsche Tesla Electric Lucid EV charging