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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.

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.

Kia Niro hybrid CUV teased again ahead of Chicago debut

The 2016 Detroit Auto Show just started, but Kia is already looking forward to February. That's when the Chicago Auto Show happens, and that's when Kia promises to unveil its Niro hybrid compact crossover. The company's two teaser images offer a great look at the little CUV, especially when you consider them with the earlier design sketches. The Niro is part of Kia's push to create a greener lineup through 2020, and the model packs a dedicated hybrid powertrain. Earlier reports suggest that it consists of a 1.6-liter four-cylinder and 47-horsepower electric motor with a 1.56-kWh battery. A six-speed dual-clutch gearbox will likely put the power to the road. Kia's styling centers in California and Namyang, South Korea, are responsible for the Niro's look. The designers use a narrow version of the company's tiger-nose grille for this CUV, but the high-mounted headlights create a clear family resemblance to the latest Sportage. The roofline appears to have a coupe-like arch, and the rear gets nearly rectangular taillights that angle into the hatch. If the Niro name sounds familiar, that's because Kia first used it on a slightly bulbous crossover concept at the 2013 Frankfurt Motor Show. You'll have to wait a month for all the details, but until then, enjoy the teasers and press release below. KIA REVEALS FIRST IMAGES OF ALL-NEW NIRO HYBRID UTILITY VEHICLE Kia reveals first images of all-new Niro Hybrid Utility Vehicle Exclusive first images of Niro HUV illustrates sporty and versatile design Niro HUV world premiere set for Chicago Auto Show in February 2016 Dedicated hybrid powertrain specifically developed for all-new model (SEOUL) January 12, 2016 – Kia has today unveiled the first official images of the sporty and versatile Niro – an all-new Hybrid Utility Vehicle (HUV) that's set to add a fresh dimension to the global compact SUV market. The styling of the Niro was led by Kia's design centers in California, USA and Namyang, Korea and incorporates the practicality and aesthetic allure of a compact SUV, with a sleek, aerodynamic body and subtly sculptured surfaces. Highlighting the raised rear haunches that endow the HUV with an athletic stance, the image also reveals high-mounted LED taillights that complement an uncluttered rear end. The slim character line and rear windows emphasize the car's sleek profile, while allowing greater room for the Niro's muscular wheel arches.