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Kia confirms $1B factory in Mexico to be completed in 2016

Kia is the latest in a string of automakers to announce plans to build new or expanded factories in Mexico. The Korean company has signed a $1 billion deal to establish a plant in Monterrey in the state of Nuevo León, with construction starting in late September. If everything proceeds on schedule, the facility should be complete in the first half of 2016 and be able to produce 300,000 vehicles a year.
The $1-billion investment will create a "new, highly automated manufacturing plant," according to Kia's announcement, a facility covering 1,235 acres of land. Confirming earlier rumors, Kia will produce compact models there, but the company won't reveal specific model names, just yet. When complete, the factory in Mexico will boost the automaker's annual capacity to 3.37 million vehicles a year with 1.69 million of those in Korea and 1.68 million abroad. It will also join Kia's plant in Georgia (where the Optima and Sorento are made) as the business' other North American location.
Kia hasn't kept plans for the Mexican factory a very close secret and openly admitted it was "being considered as a possible location" to Autoblog. The country was chosen partially because of its free-trade agreements (read: NAFTA), that make it less costly to move models elsewhere, not to mention its easy access to the North, Central and South American markets. The new plant should also alleviate some of the tight supply issues Kia has had in the US.

2018 Kia Stinger GT Long-Term Review Update | What living with the Stinger is like

You're going to like looking at it, and everyone else will too Man, this car is slick. It's long and low with curves in all the right places. Kia toed the line between in-your-face sportiness and luxury with every design decision on this car. I don't often feel the urge to look back at a car as I walk away, but the Stinger has a way of drawing my eye back to it wherever I go. The bright red paint might be partially responsible for this, but I've found I'm not alone. Everywhere I drive, this car turns heads and brings about inquisitive stares from onlookers — the Kia badge just causes brows to furrow deeper. Never in history have random passersby been this interested in a Kia. It makes sense, though. We don't often see completely new, from-the-ground-up sports sedans these days. The Stinger's fastback shape just makes it even more enticing and refreshingly different. Noticing the sidewalk interest in a car like the Stinger gives me a glimmer of hope for other great sedans to make it through the crossover-apocalypse. Big car, but a small back seat The usable space in the rear seat runs counter to how long and large the car looks. First off, the way the door is shaped makes for a narrow space to slide your body through. It's wide on top but narrows closer to the ground. That's no problem for a young and limber person such as myself, but less flexible folk may find it annoying. With the seat positioned for my 5-foot-10-inch frame, rear legroom is a bit scarcer than I would have thought. Throwing kids back there would be fine, but it still came off as one of the larger disappointments in my book. You'll enjoy the cargo space, though. Hatches are almost always more utilitarian than sedans with trunks, and this trend continues for the Stinger. Loading and unloading is an easy task, and you can shove a ton of stuff back there. Somewhat limited visibility through the short rear window from the driver seat is the only downside of the rear hatch design. It has a dual personality This car firmly plants itself onto the list of ideal daily drivers. Leave it in Comfort mode, turn the Harman Kardon stereo up, and relax on your way to the office. Twist the dial over to Sport, and you'll blow everybody else away getting on the highway as you head home. Like we said in our last long-term update, the Stinger is the perfect GT car, and we stand by that. You can use it as a backroad scalpel on weekends. However, I wouldn't go so far as to say it handles like a sports car.

Hyundai Motor heir Euisun Chung takes over from father after 20 years in waiting

SEOUL — Hyundai Motor Group appointed Euisun Chung as group chairman on Wednesday, cementing his succession from his octogenarian father in a move likely to give impetus to the world's fifth-largest automaker's push into electric vehicles and flying cars. In the first generational handover at the South Korean automobile giant in 20 years, Chung, 49, said he hoped to lead change at South Korea's second-biggest conglomerate as it battles to stay ahead of the pack in a time of rapid technological innovation in the global auto industry. "Carrying on their bold and innovative legacies, I feel privileged, yet also a sense of great responsibility for opening a new chapter of Hyundai Motor Group," Chung said in his inauguration speech to employees. Chung identified autonomous driving, electrification, hydrogen fuel cell, robotics and Urban Air Mobility (UAM) — industry jargon for flying cars — as his initiatives for the future. Hyundai Motor shares were trading up 0.3% after rising as much as 2.5% after the appointment, while the wider market was down 0.6%. Kia Motors and Hyundai Mobis fell 1.6% and 1.1%, respectively.   Legacies Hyundai Motor Group earlier on Wednesday said Chung had been promoted to chairman from executive vice chairman, replacing his father, Mong-Koo Chung, who was made honorary chairman. Key affiliates of Hyundai Motor Group, including Hyundai Motor, endorsed his inauguration unanimously. The appointment makes Chung the latest third-generation leader to take over one of South Korea's family-led conglomerates, which have been credited with lifting the war-stricken country out of poverty since the 1950s. His father took the wheel of the group in 2000 and transformed the company, once mocked for poor vehicle quality, into the world's No.5 automaker. The 82-year-old has been stepping back from frontline operations in recent years, and gave up his board seat in Hyundai Motor earlier this year. Euisun Chung has played an increasingly visible leadership role since September 2018 when he was promoted to executive vice chairman. Hyundai Motor Group invested $1.6 billion in a self-driving technology joint venture with U.S. Aptiv, forged a partnership with Uber on electric air taxis and invested in ride-hailing firm Grab. In July, Chung set a goal to win more than 10% of the global market for battery EVs by 2025.