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Hyundai Q1 profit triples, as it adjusts production due to chip shortage
Thu, Apr 22 2021Â 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.
Hyundai app lets you build your own zombie apocalypse car
Sun, 04 Aug 2013Walking Dead fans, rejoice! Thanks to Hyundai, you can build your very own virtual zombie survival machine. We've all seen the light-green Hyundai Tucson transporting the likes of Rick Grimes and his motley crew of survivors in AMC's hit series, and now you can get in on the action with Hyundai's Walking Dead Chop Shop.
Available both as a mobile app and desktop version, this quirky configurator presents you with a choice of three Hyundai vehicles: the Veloster Turbo, Santa Fe and Elantra. Each one has its strengths, though we particularly like the Santa Fe's utility. After all, according to Hyundai, "There's room for seven survivors inside" and you won't have to worry about "getting zombie all over your seats. They're easy to wipe clean." But for those who prefer not to invite zombies along for the journey, the speedy Veloster Turbo and its 201-horsepower engine may be the way to go.
Once you select your post-apocalyptic ride, you have a choice of colors (including Apocalypse Black, of course), decals ("Alive Inside" is a useful one) and nearly 300 other zombie-fighting features. We're partial to the automatic shotguns on the hood, although the flamethrower is also quite tempting. You can even add titanium or aluminum armor and a dizzying array of other defensive and offensive weapons: spinning saw blades on the wheels, a horde plow on the front bumper and barbed wire on the side windows, just to name a few.
Hyundai spotted testing Prius-style hybrid
Tue, Jan 20 2015The Toyota Prius has become an automotive icon – maybe less so among actual automotive enthusiasts than with the public at large – to the extent that most anyone on the street would recognize its five-door hatchback form and immediately identify it as a hybrid. Little wonder that Honda tried to emulate it with the second-gen Insight, but while that didn't work out so well for Honda, it looks like Hyundai is preparing to go down the same road with a dedicated hybrid of its own. Our paparazzi on the ground in the Arctic Circle have spotted this protoytpe and tell us what we're looking at is a new Prius-fighter from the Korean automaker. Snapped up high on a transporter truck, you can see the orange high-voltage cables underneath and a label with the letters AE HEV – the latter standing, of course, for Hybrid Electric Vehicle. We wouldn't be surprised if the AE stood for Advanced Experimental or Alternative Energy or something of the sort. Tipped to be based on the same platform as the next-generation Elantra, the new Hyundai hybrid is said to pack a 1.6-liter inline-four working in parallel with an electric motor juiced by a lithium-ion battery pack. It's expected to begin production in the second half of 2016, with a plug-in and possibly other variants to follow a year to a year and a half after its initial launch.