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Hyundai spooks investors by paying $10B for new Gangnam HQ location

Doing things Gangnam style apparently costs a serious chunk of change, because Hyundai is reportedly paying roughly $10 billion for 19.6 acres (79,342 square meters) of land in the trendy district of Seoul, South Korea, to serve as the location for its new headquarters. That eye-popping number represents the highest amount ever paid for a plot of land in South Korea, according to Reuters. The hefty price tag reportedly scared investors enough for stock prices to sink dramatically.
Shareholders were apparently upset because the massive outlay could instead have been put back into the company for research and development or other improvements. Instead, the company reportedly bid triple the land's appraised value, says Reuters. The announcement caused Hyundai's stock price to plummet a massive 9 percent, and there were losses from Kia and the company's parts arm, as well. All told, the three of them lost nearly $8 billion in value from the falling share prices - almost enough to pay for the controversial land.
Hyundai currently has its headquarters on the outskirts of Seoul, but seems keen to move to the high-end Gangnam district to show off its rising status. It plans to build a new office complex, hotel, convention center and theme park on the site. According to an analyst speaking to Reuters, that could all cost an additional $6 billion to complete.

Hyundai shocks Korea with mid-engined Veloster concept

There are many things we love here at Autoblog, but one of the quirkiest is the mid-engined hot hatch, whether it's the Renaultsport Clio V6 or the Volkswagen GTI W12-650 concept. Unfortunately, we can never seem to get our hands on one - the former never having made the transatlantic journey and the latter remained strictly a concept. And now we've got one more to salivate over.
It's called, simply enough, the Veloster Midship concept, and Hyundai is unveiling it this week at the Busan Motor Show in South Korea. As you might have guessed, it's essentially a Veloster with the engine - a 2.0-liter Theta turbo four producing 296 horsepower - mounted behind the two seats. It's also got a lightweight aluminum suspension, a reinforced chassis and extreme aero to help that mid-mounted turbo engine do its thing.
The project was undertaken by the same team that developed the initial i20 WRC rally car, but unfortunately as Hyundai itself says in the press release below (released with the solitary image above), "The Midship is a concept only to explore possibilities for the Veloster chassis and is currently not related to any future production model." Which is a bit of a shame, but hardly a surprise.

Hyundai going with AeroVironment for dealership PHEV chargers

Hyundai will partner with AeroVironment as the supplier for charging stations at dealers for the 2016 Sonata Plug-in Hybrid. The 240-volt chargers will be able to top up the PHEV in less than three hours. Customers can also order AeroVironment's home chargers directly from the automaker's showrooms. AeroVironment is a veteran to working with automakers on charging solutions and has experience partnering with Fiat, Ford, Nissan, and BMW. The company also installed a network of locations along the I-5 corridor in Oregon. Customers can already buy the Sonata PHEV in ten states, including California, for a starting price of $35,435 (after $835 destination but before any tax incentives). The sedan has a total output of 202 horsepower from its 2.0-liter four-cylinder and electric motor. The 9.8-kWh lithium-polymer battery offers 27 miles of electric range and an EPA-estimated 99 miles per gallon equivalent. Hyundai dealers might have more green cars on the lot to use these chargers in the coming years. The company reportedly has a project codenamed AE under development, and rumor indicates that hybrid, PHEV, and EV models could be on the way. Hyundai Motor America Picks AeroVironment to Provide Dealer Charging Stations for the All-new 2016 Sonata Plug-in Hybrid Model AeroVironment to provide reliable and easy-to-use EV charging stations in Hyundai dealerships Hyundai becomes the seventh major auto manufacturer to choose AeroVironment as its preferred dealer charging station provider Hyundai drivers have the option to purchase AeroVironment's portable TurboCord charging system or its wall-mounted EVSE-RS charging station SIMI VALLEY, Calif., Nov. 24, 2015 – Hyundai Motor America has selected AeroVironment, Inc. (NASDAQ:AVAV) as the preferred provider for charging system installation at its dealerships across North America for its all-new 2016 Hyundai Sonata Plug-in Hybrid. Hyundai is the seventh plug-in electric vehicle (EV) auto manufacturer to choose AeroVironment as one of its suppliers. The 2016 Sonata Plug-in Hybrid comes with a high-capacity lithium-polymer hybrid battery system that delivers an all-electric range of 27 miles before switching to hybrid mode. The Sonata Plug-in Hybrid also comes with a lifetime hybrid battery warranty. The AeroVironment 240-volt TurboCord and the EVSE-RS charging station can charge the Sonata Plug-in Hybrid in less than three hours versus the approximate nine hours needed using a standard 120-volt charging cable.