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Hyundai predicts 250-mile electric vehicle by 2020

Hyundai will start selling a battery-electric version of its Ioniq in the US later this year, but the company is ready for much more. Hyundai is forecasting having an EV with a 250-mile single-charge range by the end of the decade. Hyundai executive Ahn Byung-ki told Automotive News that, while electric-vehicle technology development has been steady during the past six years, it will accelerate during the next two. Think of it as the "hockey stick" effect, but for South Korean automakers instead of Silicon Valley tech giants or Canadian hockey players. The Ioniq, which will also get plug-in and hybrid variants, will have a single-charge range of 110 miles when the EV version arrives in November. After that, Hyundai and its Kia and Genesis sister companies may develop a 200-mile range EV for 2018, and then that 250-mile-range car for 2020. Byung-ki isn't concerned that the Ioniq will quickly be outdated because the longer-range vehicles will also be priced higher. The Hyundai executive also said the company had no plans to take on Tesla Motors in the luxury EV market. The Ioniq EV was unveiled at the New York Auto Show this past March. A hybrid version of that sedan debuted in South Korea in January, while the EV went on sale in South Korea last month. Overall, Hyundai, Kia, and Genesis are planning to introduce 10 hybrids, eight EVs, eight plug-in hybrids, and two hydrogen fuel-cell vehicles by the end of the decade. The Hyundai group's only electric vehicle currently sold in the US is the Kia Soul EV, which has a single-charge range of 93 miles as well as some dancing hamsters in its commercials. Neither the Tesla Model 3 nor the Chevrolet Bolt can make that second claim. Related Video:

Hyundai hearts House Hydrogen and Fuel Cell Caucus in Tucson promotion

Hyundai may be based in South Korea, but the automaker is touting hydrogen fuel-cell technology as an all-American benefit and is getting some help from the US government to do so. The company said this week that it's collaborating with the US Department of Energy and the House Hydrogen and Fuel Cell Caucus at promoting fuel-cell technology. The timing is good because Hyundai just started selling the first mass-produced fuel-cell vehicle sold/leased in the US (unless you count the Honda FCX Clarity, which we know Honda does). The goal for Hyundai and its public partners is to boost awareness of the benefits of fuel-cell technology (the full tank range is similar to a gas-powered vehicle without the tailpipe emissions). With enough awareness and resulting demand, the high cost of both building such vehicles and installing the refueling infrastructure needed to refuel them will theoretically get driven down. Or at least that's what Hyundai and future fuel-cell vehicle makers like Toyota, Mercedes-Benz and General Motors are shooting for. Hyundai started leasing its Tucson crossover fuel-cell vehicle in Southern California earlier this year. The company is charging $499 a month, in addition to a $2,999 down payment for the vehicle, and is allowing drivers to fuel up for no extra charge. Take a look at Hyundai's press release below, and then check out our Quick Spin impressions. Hyundai Collaborates With Congressional Hydrogen And Fuel Cell Caucus To Highlight Introduction Of Mass-Produced Fuel Cell Vehicles In The Retail Market Members of Congress, Department of Energy Tout Importance of Fuel Cell Technology WASHINGTON, Sept. 16, 2014 /PRNewswire/ -- Today, Hyundai collaborated with the House Hydrogen and Fuel Cell Caucus and the Department of Energy to highlight the introduction of the first mass-produced fuel cell vehicles in the U.S. retail market. In a briefing organized by the House Hydrogen and Fuel Cell Caucus, Hyundai executives, Members of Congress, and an official from the Department of Energy discussed the innovative and clean technology that powers hydrogen fuel cell vehicles and the need for additional hydrogen infrastructure in the United States. "Hyundai is thrilled to partner with leaders in Congress and the Department of Energy to promote the continued development and commercialization of these clean energy technologies," said Kathleen Hennessey, Vice President, Government Affairs for Hyundai Motor Company.

Hyundai Q1 profit triples, as it adjusts production due to chip shortage

  SEOUL — Hyundai Motor Co posted a first-quarter profit that nearly tripled to its highest in four years as people bought its luxury cars, but warned it would have to adjust production again in May because of a chip shortage. Unlike its rivals, the South Korean automaker staved off production halts in the first quarter, thanks to a healthy chip inventory. But the shortage, exacerbated by factors including a fire at a chip factory in Japan and storms in Texas, is now catching up with Hyundai. Hyundai, which has lagged its rivals in the electric vehicle (EV) race, also said on Thursday that it was developing solid-state batteries and planned to mass produce EVs using solid state batteries in 2030. In February, Hyundai launched its Ioniq 5 electric midsize crossover, the first in a planned family of EVs that it hopes will propel it into the third rank of global EV makers by 2025. Hyundai Motor and Kia together aim to sell 1 million EVs in 2025. In the quarter ended March 31, Hyundai was unscathed as people at home and the United States snapped up its high-margin sports-utility vehicles and premium Genesis cars as the coronavirus pandemic dragged on, fueling car ownership. Net profit surged 187% to 1.3 trillion won ($1.16 billion) from 463 billion a year earlier, when business slumped as countries shut down to limit the spread of the coronavirus. This was in line with an average Refinitiv SmartEstimate. Revenue rose 8.2% to 27.4 trillion won. Hyundai is expected to report net profit of 1.4 trillion won for the April-June period, up 536% from the corresponding period a year earlier, Refinitiv SmartEstimate showed. Hyundai affiliate Kia Corp reported operating profit of 1.1 trillion won for January-March, up 142% on the year. Hyundai, which together with Kia is among the world's top 10 automakers by sales, has temporarily paused production three times since the beginning of this month and saved chips for its most popular models. "The condition of semiconductor parts is being a little more prolonged than we expected," said Seo Gang-hyun, an executive vice president at Hyundai. "As the semiconductor procurement condition is rapidly changing, it's difficult to predict production status after May.