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All new Hyundai Elantra revealed in Korea

After thoroughly teasing the next-generation Elantra, Hyundai is finally unveiling its latest sedan for the South Korean market (where it's called the "Avante"). While the names might be different, expect the revised model to look just like this for the North American debut at the Los Angeles Auto Show in November. Although, the powertrain range might be tweaked when crossing the Pacific. Hyundai is reworking the swoopy Fluidic Sculpture design language into a sleeker, simpler shape for the latest Elantra, and the company calls the new direction "Modern Premium." Up front, there's a big hexagonal grill to grab attention, and it's matched with squinting headlights on each side. The roof now simply flows back elegantly to the trunk, and the sides are left largely unadorned beyond an understated crease along the shoulders. At the rear, narrowing taillights stretch horizontally across the trunk. Also, while the upgraded styling is meant to make the Elantra look low and wide, the dimensions grow less than an inch in length and width. Beneath the upgraded design is a revised platform that's made of 53 percent advanced high strength steel, versus 32 percent before. The result is a stiffer frame that Hyundai claims leads to better crash test results and lower NVH. Drivers get added security from a safety suite that includes autonomous emergency braking, high beam assist, blind spot detection, and rear cross traffic alert. Hyundai is clear that powertrains can vary with region, but South Koreans get three choices in the Avante. A 1.6-liter gasoline-fueled four-cylinder offers 130 horsepower and 119 pound-feet of torque, and a 1.6-liter diesel makes 134 hp and 221 lb-ft. There's also a 2.0-liter petrol mill running on the Atkinson cycle that produces 147 hp and 132 lb-ft. Rumors suggest North America might get the turbocharged 1.6-liter from the latest Tucson with 175 hp and 196 lb-ft. Hyundai Motor Holds World Premiere of All-new Elantra in Korea 09 September, 2015 • Hyundai Motor's best-selling model evolves with innovative design • Award-winning compact sedan inspires driver confidence with enhanced performance and stable handling • Class-leading convenience and safety features are tailored to customer needs September 9, 2015 – Hyundai Motor Company, South Korea's largest automaker, today unveiled the 'All-new Elantra (named Avante in Korea)', a sophisticated evolution of the brand's long-established compact sedan.

Hyundai Motor plans 17 EVs, $16B investment by 2030

SEOUL — South Korea's Hyundai Motor Co said on Wednesday it planned to invest about 95.5 trillion won ($79.21 billion) through 2030, including about 19.4 trillion won ($16.10 billion) towards electric vehicle (EV) related businesses. It also said it plans to introduce 17 EVs in that timeframe, six from Genesis and 11 from the Hyundai brand. Hyundai announced that three of those EVs would be sedans, along with six SUVs, a light commercial vehicle and one new type of model. It will begin sales of the Ioniq 6 later this year, followed by the Ioniq 7 in 2024. Hyundai Motor, which together with affiliate Kia Corp is among the world's top 10 biggest automakers by sales, targets to achieve a 7% market share in the global EV market by 2030, with an annual sales target of 1.87 million vehicles, the automaker said during a virtual investor day. The Seoul-based automaker said it aimed to achieve an operating profit margin of 10% or higher in EV business by 2030. "Hyundai is successfully accelerating its transition to electrification and becoming a global leader in EVs despite a challenging business environment caused by the global chip shortage and ongoing pandemic," Hyundai Motor Chief Executive Officer Jaehoon Chang said. Analysts, however said Hyundai's $16 billion investment in EV business would not be considered an "aggressive" approach compared to its rivals, adding, the investment is easily dwarfed by bigger rivals including Toyota Motor Corp, which plans to invest 8 trillion yen ($69.43 billion) for electrification by 2030. "Hyundai is allocating about 20% of its 95.5 trillion won investment to EV related businesses, which includes building new plants, EV charging stations and strategic alliances with battery manufacturers and the investment amount for EV does not seem too surprising or aggressive," said Eugene Investment & Securities analyst Lee Jae-il. Chang said Hyundai was considering building new dedicated EV production plants without proving details of new factories, including locations and timeline. Analysts said Hyundai would be eying on building dedicated EV factories in the United States, as it considers that as its key EV market. Shares in Hyundai Motor closed down 2.6%, compared to the benchmark KOSPI's 0.2% gain. ($1 = 1,205.2600 won) ($1 = 115.2300 yen) (Reporting by Heekyong Yang and Joyce Lee; Editing by Clarence Fernandez and Rashmi Aich) Related video: This content is hosted by a third party.

Tucson hydrogen fuel cell CUV will allow Hyundai to sell more dirty cars

With the first Hyundai Tucson Fuel Cell Vehicle deliveries happening soon (a bit later than expected), it's time for the Korean automaker to explain why it's offering the H2 CUV here in the states. After all, there are only 10 public hydrogen stations in the US today, according to the DOE, so it can't be to take over the market. According to a Hyundai exec, the reason we are getting the Tucson Fuel Cell is to make up to $130,000 through California's ZEV credit system. "We really don't make any money out of selling the fuel cell vehicles for now" – Byung Ki Ahn According to Wards Auto, the California Air Resources Board (CARB) will give the automaker up to 26 points worth of zero emission vehicle (ZEV) credits for each of the $499/month hydrogen Tucson leased through the 2017 model year. Those credits could be worth up to $130,000 to Hyundai. Byung Ki Ahn, Hyundai's director of the fuel cell group, told Wards Auto that, "We really don't make any money out of selling the fuel cell vehicles for now. ... So just by selling the fuel cell (vehicle) we could get a lot of credit points, which you could sell at a later time if you want, like Tesla does. It could be a good business model." Ahn clarified that Hyundai does not plan to cash in on those credits, but to use them to offset the rest of its vehicle lineup. Other automakers also participate in the ZEV credit system, of course, but if Anh's numbers are correct, then fuel cell vehicles earn more credits than battery electric vehicles do, so if you want to earn a lot of credits, hydrogen is a good way to go. You can find more details over at Wards Auto. *This post has been updated to mention other automakers using the ZEV scheme.