2003 Hyundai Santa Fe Gls on 2040-cars

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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.

BMW, Hyundai score big in JD Power's first Tech Experience Index

While automakers are quick to brag about winning a JD Power Initial Quality Study award, the reality, as we've pointed out before, is that these ratings are somewhat misleading, since IQS doesn't necessarily distinguish genuine quality issues. JD Power's new Tech Experience Index aims to solve that problem. The new metric takes the same 90-day approach as IQS but focuses exclusively on technology – collision protection, comfort and convenience, driving assistance, entertainment and connectivity, navigation, and smartphone mirroring. It splits the industry up into just seven segments, based loosely on size, which is why the Chevrolet Camaro is in the same division (mid-size) as Kia Sorento and the Mercedes-Benz GLE-Class is in the same segment as the Hyundai Genesis (mid-size premium). It makes for some screwy bedfellows, to be sure. Still, splitting tech experience away from initial quality should allow customers to make more informed and intelligent decisions when buying new vehicles. In the inaugural study, respondents listed BMW and Hyundai as the big winners, with two segment awards – the 2 Series for small premium and the 4 Series for compact premium, and the Genesis for mid-size premium and Tucson for small segment. The Chevrolet Camaro (midsize), Kia Forte (compact), and Nissan Maxima (large) scored individual wins. Ford also had a surprising hit with the Lincoln MKC, which ranked third in the compact premium segment behind the 4 Series and Lexus IS. This is a coup for the Blue Oval, whose woeful MyFord Touch systems made the brand a victim of the IQS' flaws in the early 2010s. But Ford and other automakers might not want to celebrate just yet. According to JD Power, there's still a lot of room for improvement – navigation systems were the lowest-rated piece of tech in the study. Instead, customers repeatedly saluted collision-avoidance and safety systems, giving the category the best marks of the study and listing blind-spot monitoring and backup cameras as two must-have features – 96 percent of respondents said they wanted those two systems in their next vehicle. But this isn't really a surprise. Implementation of safety systems from brand to brand is similar, and they don't require any input from users, unlike navigation and infotainment systems which are frustratingly deep.

2019 Chevy Blazer vs Honda Passport, other midsize crossovers: How they compare

The two-row midsize crossover market is a sizable one that just keeps growing. The two newest additions being the 2019 Chevy Blazer and the 2019 Honda Passport, additions we just recently drove. As such, it seemed like a good time to see how their numbers compare with the veterans of the segment: Ford Edge, Jeep Grand Cherokee, Hyundai Santa Fe and Nissan Murano. In this comparison to see where it lands in the numbers game, we'll take a look at everything including power, torque, towing, ground clearance, passenger room, cargo space, fuel economy and pricing. Cue the chart. Powertrain The Passport only has one engine option, Honda's trusty 3.5-liter V6. You can find this engine in both the Pilot and Ridgeline, and we like it in all its applications. But if you're looking for something more affordable or more frugal, you're out of luck. The Passport is one of just two that offer just one engine option. Most of the others have two choices, and Jeep even offers three. Compared with similar engine options, the Passport is pretty middling. The Ford Edge ST's turbo V6 makes the most power and torque at 335 ponies and 380 pound-feet. Next up is the Blazer, the only other to break 300 horsepower, and then the 295-horsepower Grand Cherokee. The Passport does beat the V6 Murano and the turbocharged Santa Fe, though. 2019 Chevrolet Blazer View 37 Photos For vehicles with smaller engines, the Edge wins again with its 250-horsepower turbocharged four-cylinder. The Chevy Blazer is next, but at 193 horsepower, it's barely ahead of the 185-horsepower Santa Fe. The Jeep Grand Cherokee has a couple of powertrain aces, though. It's the only vehicle available with a V8, and it makes an impressive 360 horsepower and 390 pound-feet of torque. There's even a turbodiesel model with 240 horsepower and 420 pound-feet of torque, the most twist of the group. The Grand Cherokee is also the choice if you want to tow much. The V6 models will pull 6,200 pounds, and the V8 and diesel can handle 7,200 pounds. Add 200 more pounds to the diesel if it only has rear drive. 2019 Honda Passport View 19 Photos When it comes to fuel economy, the front-drive four-cylinder Edge and Santa Fe are tied for the best, with the all-wheel-drive Edge getting one more mpg on the all-wheel-drive Santa Fe on the highway. The Murano comes up next.