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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.

Human waste can be reused as hydrogen for Hyundai Tucson FCEV

Here's the recipe: separate the water out of some sewage, leaving the biosolids behind. Then pipe those solids into airless tanks and let some microbes go to town. These bugs release a gas (roughly 60 percent methane, 40 percent CO2) which you can burn to power the plant where you're doing all this work but remember to send some of the methane to a tri-generation machine that leaves you with electricity, heat and hydrogen. It might sound a bit complicated, but this process is working in prototype form at the Orange County Sanitation District's Fountain Valley waste facility in California, and hydrogen car drivers in the area - including those of the upcoming Hyundai Tucson Fuel Cell CUV - can even power their rides from the end product. UC Irvine's National Fuel Cell Research Center's Jack Brouwer developed the process and he says reusing waste to move cars, "smells like money." Hyundai will soon start leasing the H2 CUV for $499 a month ($2,999 down) for 36 months, including free hydrogen refueling and Hyundai's Valet Maintenance. The Korean automaker says it has had a surprising number of people express an interest in the vehicle. We wonder if a waste-powered hydrogen station will make fuel cell technology more or less appealing. Read more details over at the Korea Herald. Featured Gallery 2015 Hyundai Tucson Fuel Cell: LA 2013 View 19 Photos News Source: Korea Herald Green Hyundai Technology Emerging Technologies Hydrogen Cars tucson

Hyundai bringing Elantra GT, special edition Veloster to Chicago

Hyundai will be bringing two new products to next week's Chicago Auto Show, a company source confirmed to Autoblog. The first is a freshened version of the Elantra GT – pictured above as a 2014 model – and the other is a special edition of the Veloster hatchback. Our source was mum about specific details, but said that the Elantra GT refresh was simply that – nothing crazy or all-new. In other words, we expect some lightly touched-up styling, and perhaps some improvements to the interior refinement, infotainment and technology, and maybe powertrain. As we reported earlier, the two-door Coupe is no longer part of the Elantra lineup, so these changes might be a way for Hyundai to further differentiate the GT from the sedan. As for that Veloster, it won't be anything revolutionary, either. Hyundai has historically used the Chicago show to debut special editions of the Veloster – take a look at last year's Re:Flex, for example – and we expect the same this time around. Perhaps a new matte paint finish? That's been a popular choice for Veloster Turbo buyers, after all. Whatever may be in store, we'll have the full scoop next week during the Chicago festivities. Stay tuned. Related Video: Featured Gallery 2014 Hyundai Elantra GT View 21 Photos Chicago Auto Show Hyundai Hatchback Economy Cars hyundai elantra gt