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Hyundai confirms a shift to EVs, unveils fuel cell SUV

SEOUL — Hyundai confirmed on Thursday it was placing electric vehicles at the center of its product strategy — one that includes plans for a premium long-distance electric car as it seeks to catch up to Tesla and other rivals. Like Toyota, Hyundai had initially championed fuel cell technology as the future of eco-friendly vehicles but has found itself shifting to electric as Tesla shot to prominence and battery-powered cars have gained government backing in China. Hyundai's debut of its more modestly priced Ionic hybrid and electric has been well-received. But the pure electric's per-charge driving range is much shorter than the Tesla Model 3 or Chevrolet Bolt. Toyota is now also working on longer-distance, fast-charging electric vehicles. Hyundai first started signaling this strategic shift back in May when it first discussed plans to launch an electric sedan under its high-end Genesis brand in 2021 with a range of 500 km (310 miles) per charge. It will also introduce an electric version of its Kona small crossover with a range of 390 km in the first half of next year. "We're strengthening our eco-friendly car strategy, centering on electric vehicles," Executive Vice President Lee Kwang-guk told a news conference, calling the technology mainstream and realistic. The automaker and affiliate Kia, which together rank fifth in global vehicle sales, also said they were adding three plug-in vehicles to their plans for eco-friendly cars, bringing the total to 31 models by 2020. Underscoring Hyundai's electric shift, those plans include eight battery-powered and two fuel-cell vehicles — a contrast to its 2014 announcement for 22 models, of which only two were slated to be battery-powered. Hyundai also confirmed a Reuters report that it is developing its first scaleable, dedicated electric vehicle platform, which will allow the company to produce multiple models with longer driving ranges. HYDROGEN SUV Hyundai unveiled a near production version of its new fuel cell SUV with a driving range of more than 580 km per charge, compared with the 415 km for its current Tucson fuel cell SUV. The mid-sized SUV will be launched in Korea early next year, followed by U.S. and European markets. A fuel cell electric bus is slated to be unveiled late this year, while a sedan-type fuel cell car is also planned. Even so, analysts noted that gaining traction with fuel cells was going to be a long hard slog partly due to a lack of charging infrastructure.

Kia will launch a fully autonomous car by 2030

Kia promises to have a fully autonomous vehicle on sale by 2030, and the South Korean automaker will provide an early preview at that next-gen tech by launching the Drive Wise sub-brand at the Consumer Electronics Show. The new branding will encompass all of the company's advanced driver assistance systems and innovations in the human-machine interface over the next 15 years. Before Kia's fully driverless vehicle hits the street, the company thinks that partially autonomous Drive Wise technology could be ready by 2020. These early steps are largely what the company has on display at CES. Tech like Highway Autonomous Driving and Urban Autonomous Driving use sensors and GPS to allow a model to control itself. An Emergency Stop System can automatically get the car off the road if there's a problem, and an electronic valet would even allow a vehicle to park without a driver inside. Kia took a major step toward its autonomous future in December 2015 when it received permission from Nevada to test driverless tech on public roads there with a Soul EV (pictured above). The company and Hyundai have also pledged $2 billion in research through 2018 to help bring these advanced systems into production. Kia also folds future in-vehicle tech under the Drive Wise branding, and its I-Cockpit concept shows some of these solutions off at CES. This demonstrator of a next-gen vehicle cabin supports gesture controls and can detect an owner's fingerprint to adapt the interior to the person's preferred music and climate settings. Autonomous tech is one of the hottest parts of the auto industry right now, and a host of companies are ready to challenge Kia's coming innovations. For example, General Motors plans to test a network of driverless vehicles with ridesharing service Lyft, and Ford and Google might form a similar partnership. BMW also could show of a concept with a nearly production-ready solution early in 2016. Kia Motors introduces new 'DRIVE WISE' sub-brand for autonomous driving technologies - Kia 'DRIVE WISE' encompasses future Advanced Driver Assistance Systems - DRIVE WISE intelligent safety technologies exhibited at 2016 Consumer Electronics Show in Las Vegas - U.S.

Insider trading ahead of Hyundai-Kia MPG debacle suspected

Reuters is reporting that large-scale insider trading may be at the heart of some particularly fishy stock-selling behavior, just prior to the original announcement about the Hyundai-Kia fuel economy ratings debacle.
On November 1st, Hyundai-Kia shares traded roughly 2.2 million times (the single highest-volume day of the year), and the stock price fell by about four percent. For reference, a standard daily trading volume for the stock in 2012 saw about 600k shares trading hands. On November 2nd, the company made public the bad news about the dropping fuel economy ratings for many of its models. In other words: No one outside of the company (and only a smallish group inside the company, we'd imagine) should have known anything about the impending bad news as of the first day of November. After the announcement, the stock price tanked, as you'd expect, and trading volume was way down as well.
Experts seem fully aware that the whole thing reeks of leaked information and subsequent insider trading. If chicanery on this sort of scale seems wacky to you, you'd be inline with the experts who report to Reuters that the level of trading is absolutely suspicious.