2013 Hyundai on 2040-cars

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Hyundai outlines EV strategy as it struggles with cost of engine defects

SEOUL — South Korea's Hyundai Motor pledged to boost sales of electric vehicles to over half a million by 2025 as part of a bid to focus on new technologies and catch up with rivals, but some analysts saw the target as conservative and warned of the costs. The announcement by Hyundai, the world's fifth largest car maker along with affiliate Kia Motors, underscores the accelerating strategy shift under Euisun Chung, who became the motor group's executive vice chairman last year. Hyundai announced a $35 billion investment last week in mobility and other auto technologies by 2025, less than a month after unveiling a $1.6 billion deal to develop self-driving vehicle technologies with Aptiv. The firm said on Thursday it plans to launch 16 EV models by 2025 to boost sales of such vehicles 17-fold to 560,000 by that year. Still, that would be equivalent to just over 10% of its projected global sales this year. The projection compares with more bullish forecasts offered by its bigger rivals. Volkswagen AG expects to make 22 million EVs over the next decade, while General Motors aims to sell 1 million EVs annually by 2026. "That is not an ambitious target. If Hyundai fails to boost volumes fast enough, costs of electric cars will weigh on profitability," Lee Jae-il, an analyst at Eugene Securities & Investment. Hyundai said that the EV market would face intensifying competition and oversupply soon and automakers failing to meet toughening European emissions regulations will face heavy penalties and suffer a serious blow to their reputation. "EV supply is expected to surpass demand from the second half of next year," Ka Suk-hyun, vice president of Hyundai Motor, told an earnings conference call. Quality issues Hyundai's third-quarter net profit rose 59% to 427 billion won ($365 million), well below the average 684 billion profit estimate of analysts based on Refinitiv data, due to 600 billion won provisions it earmarked to address potential engine defects in the United States and South Korea. Quality issues have been a major drag in Hyundai's attempt to steer a recovery from six consecutive annual profit declines and constrained its financial firepower to invest in future technologies. It is still under investigation by U.S regulators and prosecutors over potential faulty engines in some models. Total retail sales fell 3% in the third quarter, as higher U.S.

2019 Hyundai Elantra gets angular new styling, safety options

The 2019 Hyundai Elantra compact sedan has received a pretty radical refresh for a relatively conservative car. The rounded front fascia of the current model has given way to a face full of sharp corners. The headlights and fog lights are now triangles, and the grille is sharper. The headlights intersect the grille, too. There are some nice details in this new design. The base of the headlights match up with the top-most slat in the grille, and the lights intersect the grille at some of the grille's top corners. Two new creases on the hood also line up with vertical slats in the grille. The rear of the car is updated, too, if not as radically. The taillights get sharpened corners, as well as downward extensions on the outside edges. The illuminated parts are crisp zigzagging lines that match the nose. The license plate housing has been moved from the trunk lid to the bumper, and large Elantra lettering stretches across the lid. This mirrors the design of the current Sonata midsize sedan. Overall, the design changes are reasonably attractive, though they don't seem to fit especially well with the flanks of the car, which retain the softer, more organic lines of the current car. There are a number of other small updates as far as features are concerned with the Elantra. Hyundai now includes camera-based forward collision prevention, lane-keeping assist, and driver attention alert as standard equipment on the second-lowest SEL trim and above. All trim levels also get a 5-inch touchscreen as standard along with a rear-view camera and dynamic guidelines on the screen. The base SE model with a manual transmission finally gets Bluetooth and steering wheel controls, too. The top-end Limited gets an 8-speaker sound system with subwoofer, Qi wireless phone charging and Safe Exit Assist, which warns drivers of approaching cars when the door is open. What doesn't change is under the skin. The naturally aspirated 2.0-liter four-cylinder makes the same 147 horsepower as last year, and the turbocharged 1.4-liter engine still produces 128 horsepower. The 201-horsepower Elantra Sport is completely unchanged in regards to powertrain and exterior. Hyundai says that a restyled version will appear later this year. Pricing for the refreshed Hyundai Elantra has not yet been announced. It goes on sale this fall, and pricing should come just before it hits dealers. Related Video: Featured Gallery 2019 Hyundai Elantra View 36 Photos News Source: Hyundai Hyundai Economy Cars Sedan

The greenest cars of 2024: Vehicles that use the least fuel and cost less to operate

All-electric vehicles may make headlines for environmental friendliness and fuel efficiency, but the “greenest” car in America in 2024 has a gasoline engine. According to the American Council for an Energy-Efficient Economy's annual GreenerCars ratings of the most environmentally friendly cars, the latest Toyota Prius Prime SE plug-in hybrid tops the list of greenest cars, although it's something of an anomaly, because battery-electric EVs follow it in spots two to five. Of the top 10 vehicles in the ratings, six are electric and four are hybrids: Rank Make & Model Powertrain Green Score MSRP Estimated Annual Fuel Cost* 1 Toyota Prius Prime SE PHEV 71 $32,975 $529 2 Lexus RZ 300e EV 67 $55,150 $651 3 Mini Cooper SE EV 67 $30,900 $747 4 Nissan Leaf EV 66 $28,140 $741 5 Toyota bZ4X EV 66 $43,070 $689 6 Toyota RAV4 Prime PHEV 64 $43,690 $741 7 Hyundai Elantra Blue Gas Hybrid 64 $26,250 $864 8 Hyundai Kona Electric EV 63 $34,050 $695 9 Toyota Camry LE Gas Hybrid 63 $28,855 $907 10 Kia EV6 EV 63 $43,975 $689 11 Toyota Corolla Gas Hybrid 62 $23,500 $944 12 Hyundai Ioniq 5 EV 62 $41,650 $737 *ACEEE analysis using EIA data of annual cost—from gasoline, electricity, or a combination—of driving 15,000 miles The ACEEE also compiled two other vehicle rankings: the so-called “Greener Choices” and the “Meanest List.” The Greener Choices list includes a variety of high-scoring conventional vehicles, and the Meanest List identifies the worst-performing mass-market models. Finishing first in the “greener” list — which the organization says is about cars “available nationwide with among the lowest environmental impacts” — is the Honda Accord Hybrid. As far as the “worst-performing mass market” vehicle, that dubious distinction goes to the $184,000 Mercedes-Benz AMG G63. “ItÂ’s important for automakers to keep expanding affordable EV options rapidly so that the benefits of EVs are available to drivers across a wider spectrum of incomes as we transition away from cars that burn gasoline,” said Peter Huether, ACEEEÂ’s senior transportation research associate and lead researcher for the GreenerCars rankings. “For drivers whose needs are not met by todayÂ’s charging infrastructure, many efficient and affordable hybrid options are available.” Just over half the cars on the 2024 Greenest List start at under $35,000, including four EVs and three gas hybrids.