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Europe to get next Hyundai Genesis

Hyundai is preparing to make a rather bold move with its Genesis, as reports are now stating that the next-generation rear-drive sedan, which we showed you earlier this week, will be sold in Europe. The first-generation of the Genesis sedan never crossed the pond.
The 2015 Genesis will enter the traditional stomping grounds of BMW, Mercedes-Benz and Audi armed with the same 3.8-liter V6 and 5.0-liter V8 found in the current model. All-wheel drive, a first for the model, will also be available in Europe. "We have to overcome the challenge of competing with established European brands. We expect the Genesis to play a crucial role in improving our brand recognition," Hyundai said in a statement.
Hyundai has done a fair job of changing its image in the US from a budget-minded brand into a legitimate, mainstream competitor that covers a broad swath of the American market, offering cars from the $14,545 Accent to the $61,000 Equus. That movement started in earnest with the Genesis, and it looks like Hyundai is determined to repeat that models success in Europe.

Recharge Wrap-up: Peugeot eF01 folding e-bike, Australia orders Hyundai FCEVs

Australia has ordered 20 hydrogen powered vehicles from Hyundai. The Australian Capital Territory Government in Canberra will take delivery of the fleet of Hyundai's next-generation fuel cell vehicles (set to replace the Tucson Fuel Cell in 2018) for its Renewable Transport Fuels Test Berth project. As part of the program, the vehicles will be powered by hydrogen made with a Siemens Silyzer System with electricity from Hornsdale Wind Farm in South Australia. The Siemens refueler is capable of powering over 1, 000 fuel cell vehicles each averaging 14,000 miles per year. Read more from Hyundai. Peugeot has unveiled its eF01 electrically assisted folding bike. Meant to facilitate multimodal travel, Peugeot's eF01 folds up quickly to be thrown in the trunk of a car, carried on public transport, or wheeled in its folded position while walking. It's a little hefty, at 37 pounds, but its compactness helps make up for that. It can be charged in the cargo area of any vehicle with a 12-volt outlet, so it's ready to provide 18 miles of electric assistance at speeds of up to 12 mph. It can also communicate with a smartphone via Bluetooth to show current charge and range. Read more from Peugeot. A123 Systems will collaborate with Argonne National Laboratory to create safe, better performing lithium-ion batteries. The partners will focus on cathode technology in order to increase energy density and durability in order to improve the driving range of electric vehicles. A123 expects to increase energy density and range by more than 60 percent over its current offerings. "Working with Argonne will further advance our already strong presence in plug-in vehicles and support the increasing market demand globally," says A123 Systems CEO Jason Forcier. "We look forward to expanding our customer base as we offer increasingly greater range to our plug-in vehicle programs without compromising on the life and safety performance that the market has come to expect from A123." Read more in A123's press release. Featured Gallery Peugeot eF01 Folding E-Bike Related Gallery 2015 Hyundai Tucson Fuel Cell: LA 2013 View 19 Photos News Source: Hyundai, Peugeot, A123 Systems Green Hyundai Peugeot Alternative Fuels Bikes Electric Hydrogen Cars recharge wrapup

Why BMWs are cheaper than Hyundais in Korea

Bloomberg reports shifting tariff regulations have upended the traditional automotive pecking order in Korea. Thanks to cheaper import taxes, foreign brands have seen market share jump from 28 percent to 41 percent over the last two years. BMW, Mercedes-Benz and Audi have all capitalized on the shift, with domestics like Hyundai and Kia suffering at the hands of their German rivals.
Taxes on European imports have fallen from 8 percent in 2011 to just 3.2 percent today. Over the next few years, tariffs will all but be eliminated for most imports, and taxes on US-made vehicles are expected to fall to just 4 percent in 2014. By 2016, that number will be zero. Needless to say, Hyundai and Kia are concerned about the shift.
Hyundai has seen profit fall by 15 percent last quarter, and the company says it is on pace to see the slowest sales growth since 2007. The company's shares have fallen by 12 percent. In order to stem the losses, Hyundai has discounted its midsize sedans and started working on diesel engine options.