2014 Hyundai Elantra Limited on 2040-cars

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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.

Hyundai expanding US plant capacity for SUV production

With cheap gasoline still driving CUV and SUV sales, three anonymous sources are reporting to Automotive News that Hyundai is looking to expand production at its Montgomery, AL factory with an eye towards production of high-riders. The Montgomery factory is currently responsible for Elantra and Sonata production, although as both sedans have faced slagging sales, Hyundai is seemingly taking a second look at its production priorities. "It's a new assembly line right next to the current Alabama line. State of Alabama is negotiating final terms," one of the sources told AN. The other two sources, meanwhile, indicated that while the company has been mulling expanded production in America, a final decision hadn't been made yet. As for what vehicle could join the Elantra and Sonata on a new line in Alabama, Korea Investment and Securities auto analyst Suh Sung-moon told AN the Santa Fe could move from its current home at the Kia facility in Georgia, although the Montgomery factory could also accommodate production of the compact Tucson (it's unclear if Suh was referencing the next-generation Tucson that debuted in Geneva or the current model) or even a pickup truck, were Hyundai to go such a route. Meanwhile, AN reports that Korea's Yonhap News Agency expects the Montgomery facility to be able to produce 300,000 vehicles, including an SUV, by 2017. While Hyundai declined Automotive News's inquiries, we have our ear to the ground for any official information from the South Korean marque.

Google shows off its Android Auto system

Cars fitted with the Apple CarPlay system should be in dealerships next year, available as a delayed option on the 2015 Hyundai Sonata and eventually expected to be available on Volvo, Mercedes-Benz and Ferrari vehicles. Google isn't that far behind with its Android Auto, and after Hyundai showed it off at the LA Auto Show, Google Developers used their Dev.Bytes program give us a better look at it. Any phone with Lollipop 5.0, the latest version of Android, will be able to interface with the system after being plugged into the car's USB port. The Google Now cards you're familiar with on the phone will appear on the infotainment screen, and from there you're in a mobile Android world. A report in Edmunds says that Whatsapp will be an option from the start, and nifty Google tricks like "contextual search via voice control" respond to queries based on what's being discussed. Although Bloomberg recently did a video examining the Google vs. Apple question, your choice won't be binary; in Hyundais, at least, both systems will be fitted, plugging a phone in will decide which one comes up on screen. We don't know when we'll see it dealerships, but the video will give you a glimpse into your Android future.