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Kia Soul EV starts production next month amidst modest sales projections

The hamsters in those Kia Soul commercials? Looks like they'll be riding real quiet and quite clean a little sooner than we thought. Kia is now saying it will start production of the 2015 Soul EV next month, and sales will start later this year in the company's home country of South Korea. Additionally, according to Reuters, Kia is keeping sales expectations low, suggesting it should sell about 5,000 Soul EVs a year at a price of around $39,000, though the out-of-pocket costs should be cut in half because of South Korean government subsidies. Kia's taking a somewhat conservative approach to its early sales target as it focuses largely on the US and Europe during its first phase, said Kia spokesman Michael Choo. "We are currently conducting launch feasibility studies for the secondary phase of Soul EV introduction and plan to expand sales to other countries at a later stage," he said. "Hence, we believe the sales volume of the Soul EV will steadily grow following our initial full year of sales." As for the US, Kia spokesman James Hope tells AutoblogGreen that while the company hasn't set a definitive debut date, "we are targeting Q3 of this year." Hope says Kia isn't providing Soul EV sales guidance for the US, so we'll just have to see where the EV chips fall come September or so. Reuters also notes that sister company Hyundai will start selling its own battery-electric vehicle in 2016, a timetable confirmed by Hyundai Senior Vice President Lee Ki-sang. Both Kia and Hyundai are shooting for a South Korean electric-vehicle market that they hope will expand exponentially from a total of just 713 sales last year. The front-wheel-drive Soul EV will have a 81-kilowatt electric motor, and its single-charge range will be about 120 miles. The model was first shown off at the Chicago Auto Show last month, but Autoblog scored an early prototype test drive ahead of the reveal – check out our feature drive report here. Kia Motors shows Soul EV and next-generation hybrid powertrain at Geneva Show (SEOUL) March 4, 2014 -- The new Kia Soul EV made its European debut at the 84th Salon International de l'Automobile in Geneva, Switzerland, today alongside a special technology exhibit of the brand's next-generation hybrid powertrain.

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.

Kia wants 11 green cars by 2020

Kia will invest $10.2 billion in an effort to become a more environmentally friendly automaker over the next five years, and the recently teased Niro hybrid crossover will be just the tip of the iceberg. The Korean automaker wants to more than double its green car lineup by 2020 to 11 models from the current four with plans for new hybrids, PHEVS, EVs, and even a hydrogen fuel-cell vehicle. This green rollout will start with an Optima PHEV (the 2014 hybrid variant is shown above) with a lithium-polymer battery and will continue with the Niro CUV. Spy shots also suggest both Hyundai and Kia have other dedicated hybrids under development, and rumors hint at their arrival in showrooms in 2017. "Global market demand is shifting to electric vehicles, with oil prices predicted to rise in future," Ki-Sang Lee, the senior vice president at Kia's Eco Friendly Vehicle R&D Center, said in the investment's announcement. Kia is already familiar with fuel-cell tech thanks to public testing in 2009, but the automaker really wants to push development with a mass-produced model in 2020. The new FCEV would use a 15- percent lighter and five-percent more efficient stack versus current units, and the setup would offer an estimated range of over 497 miles. The company hopes to build 1,000 of these vehicles annually at first. The automaker's green plan will also aim to boost the brand's average fuel economy by 25 percent from 2014 levels. To make that happen, Kia will replace seven of its 10 engine families and will cut the weight of future vehicles by five percent. The next-gen models will use more efficient transmissions too. KIA MAPS OUT FIVE-YEAR AMBITION FOR GREEN CAR LEADERSHIP Green car line-up expected to grow from four to 11 models by 2020 Kia targeting hydrogen fuel cell vehicle production within five years Kia aiming to improve average fuel efficiency by 25% over 2014 levels Roadmap for low emission cars includes clean combustion, hybrid- and pure- electric vehicles, and hydrogen fuel cells 70% of current engine range set to be replaced by more efficient units Kia Motors today announced its mid- to long-term plans for the development of a greatly increased range of environmentally friendly vehicles. The brand's 'green car roadmap' sets out Kia's ambition to become a leader in the low emissions car market by 2020.