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Hyundai reveals CEO's pay for first time ever

Thanks to some government pressure, Hyundai's billionaire chairman, Chung Mong Koo, has revealed just how much he gets paid each year. Honestly, the amount is a bit lower than we'd expect considering he helms such a huge industrial empire. The 76-year-old chairman brought home $13 million in 2013, $5.2 million of which came from Hyundai's automotive business while both Mobis and Hyundai Steel chipped in $3.94 million, each. For reference, Ford CEO Alan Mulally netted $23.2 million in 2013, although the vast majority of that money came from stock options.
The push for Chung to reveal his pay was part of a larger effort by the South Korean government called the Financial Investment Services and Capital Markets Act. The act forces several thousand companies to release info on annual pay, bonuses and severance for employees earning over $5 million won ($469,000), according to Bloomberg.
"With the disclosure of the executives' compensation, the pressure to deliver better profits will increase," said Heo Pil Seok, the CEO of Midas International Asset Management. It seems to be working, as Hyundai shareholders, of which Midas is one, have seen their shares increase by 6.1 percent in 2014, which includes a 1.2-percent jump as of yesterday, according to Bloomberg.

Recharge Wrap-up: Kia Soul EV wins MotorWeek award, Virgin Hotels offering Tesla Model S rides

The Kia Soul EV has been awarded a MotorWeek's Drivers' Choice Award. Winning the honor for Best Eco-Friendly Vehicle, "The Kia Soul EV is the perfect EV," according to MotorWeek host and executive producer John Davis. "It has more power and range compared to other affordable all-electric vehicles. Plus, its funky style makes driving the Kia Soul EV really cool." The Soul EV has a driving range of about 93 miles on a single charge, and offers an interior roomy and comfortable enough to earn MotorWeek's praise. Read more in the press release below. Virgin Hotels will provide its Chicago guests car services in the Tesla Model S. Guests can get rides to and from the hotel in a red, dual-motor Model S P85D. Virgin Hotels offers the EV services as part of its sustainability program. "Tesla is the hottest electric car on the road right now, and we're elated to provide our hotel guests with this chic house-car service while also helping to reduce our carbon footprint," says Virgin Hotels vice president of sales and marketing Doug Carrillo. "For Virgin Hotels it's important to provide services our guests desire but do so with the environment in mind whenever possible." Hyundai has announced the first lease of its Tucson Fuel Cell in Canada. Hyundai chose the Vancouver couple, Jennifer Ma and Clayton Crawley, as the first buyers in part because they live near both a dealership and a fueling station, the latter of which sources its hydrogen from a chemical company that produces the gas as a byproduct. Crawley, whose children love the beach, says, "Getting there while reducing our environmental impact will be awesome." Read more at Automotive News. The Federal Transit Administration (FTA) is providing $30 million in grant money for Proterra electric buses. Six transit agencies will buy 28 of the EV buses for a variety of projects. Proterra CEO Ryan Popple calls the funding a "tremendous validation for the company." In total, the FTA is handing out $55 million in grant money for the deployment of American-made electric buses. Four other agencies will receive buses from BAE Systems and New Flyer as part of the program. Read more at Charged EVs. Kia Soul EV Wins 2015 MotorWeek Drivers' Choice Award Kia's First All-Electric Vehicle Wins Best Eco-Friendly Honor - Soul EV praised for funky style, power, range and roomy interior - MotorWeek's annual list of winners serves as a buying guide for the show's nationwide audience CHICAGO, Feb.

Chrysler and Hyundai join Pepsi and Coke as top Super Bowl spenders [w/ video]

Super Bowl XLVIII is barely a week away, and some of the early ads are already leaking out. It's timely then that The Street has released rankings of the top five Super Bowl advertisers since 2009, showing Chrysler and Hyundai/Kia taking two of the spots with $131.7 million in cumulative spending.
Since 2010, the cost to air a 30-second Super Bowl ad has risen from $3 million in 2009 to about $4 million in 2014, and about a fifth of advertisers opt for a one-minute ad, which doubles costs. Last year, the ads brought in $292 million, and they have brought in roughly $2 billion since 2010.
Chrysler has spent $64.3 million since 2009 to make it the fourth highest spending company in the last five years. In that time, the company has rebranded itself as it emerged from bankruptcy with the Imported from Detroit ad campaign that premiered in 2011 and last year's God Made a Farmer Ram Trucks ad. Its 2012 Halftime in America sparked national debate about whether it was also a reference to the upcoming presidential election.