2013 - Kia Optima on 2040-cars

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Kia negotiating to build $1.5B auto plant in Mexico

After a string of recent announcements from automakers, Kia may be the next business to break ground on a factory south of the border. The Korean company is reportedly nearly finished with negotiations to build a $1.5-billion plant near the city of Monterrey in the Mexican state of Nuevo Leon. The state's secretary of economic development confirmed the news to Reuters and anticipated talks to be completed in the first two weeks of August. Unnamed insiders also said that the location was aiming for an annual production capacity of 300,000 vehicles.
Rumors from a month ago first suggested the possibility of the new factory. It would reportedly build two models of small cars, and assembly could potentially begin as soon as 21 months after breaking ground. Currently, Kia only has one North American plant, in Georgia, that builds the Sorento and Optima.
In the last few years, Mexico has become of hotbed of North American automobile production. Mazda, Honda and Volkswagen all recently opened new or expanded factories to build cars there. There are even more on the way with a joint venture plant from Mercedes-Benz and Infiniti and BMW's announcement of its own $1 billion undertaking in Mexico.

Hyundai Motor heir Euisun Chung takes over from father after 20 years in waiting

SEOUL — Hyundai Motor Group appointed Euisun Chung as group chairman on Wednesday, cementing his succession from his octogenarian father in a move likely to give impetus to the world's fifth-largest automaker's push into electric vehicles and flying cars. In the first generational handover at the South Korean automobile giant in 20 years, Chung, 49, said he hoped to lead change at South Korea's second-biggest conglomerate as it battles to stay ahead of the pack in a time of rapid technological innovation in the global auto industry. "Carrying on their bold and innovative legacies, I feel privileged, yet also a sense of great responsibility for opening a new chapter of Hyundai Motor Group," Chung said in his inauguration speech to employees. Chung identified autonomous driving, electrification, hydrogen fuel cell, robotics and Urban Air Mobility (UAM) — industry jargon for flying cars — as his initiatives for the future. Hyundai Motor shares were trading up 0.3% after rising as much as 2.5% after the appointment, while the wider market was down 0.6%. Kia Motors and Hyundai Mobis fell 1.6% and 1.1%, respectively.   Legacies Hyundai Motor Group earlier on Wednesday said Chung had been promoted to chairman from executive vice chairman, replacing his father, Mong-Koo Chung, who was made honorary chairman. Key affiliates of Hyundai Motor Group, including Hyundai Motor, endorsed his inauguration unanimously. The appointment makes Chung the latest third-generation leader to take over one of South Korea's family-led conglomerates, which have been credited with lifting the war-stricken country out of poverty since the 1950s. His father took the wheel of the group in 2000 and transformed the company, once mocked for poor vehicle quality, into the world's No.5 automaker. The 82-year-old has been stepping back from frontline operations in recent years, and gave up his board seat in Hyundai Motor earlier this year. Euisun Chung has played an increasingly visible leadership role since September 2018 when he was promoted to executive vice chairman. Hyundai Motor Group invested $1.6 billion in a self-driving technology joint venture with U.S. Aptiv, forged a partnership with Uber on electric air taxis and invested in ride-hailing firm Grab. In July, Chung set a goal to win more than 10% of the global market for battery EVs by 2025.

Recharge Wrap-up: Kia Soul EV, Renault Zoe range boosts

California has removed its limit on the number of HOV lane access stickers available for plug-in hybrids. While the state removed limits for white stickers for solo drivers of battery electric vehicles to use the carpool lane, the green stickers for PHEVs and range-extended EVs had a limit of 85,000, which was reached months ago. Now, BEVs and PHEVs will each have an unlimited number of access stickers until the program expires on January 1, 2019. Read more at Green Car Reports. Kia could improve the driving range of the Soul EV in order to better compete with newer offerings. While its 93-mile range was competitive with most EVs when it was launched as a 2015 model, the Nissan Leaf and BMW i3 have since surpassed it, and other forthcoming affordable EVs like the Chevy Bolt and Tesla Model 3 will set the bar even higher. As such, Autocar says the Soul EV should get a range boost with a mid-cycle refresh for the 2018 model year. Read more at Autocar, and at Green Car Reports. Renault said to be set to unveil a new Zoe EV with a driving range of over 200 miles. With a debut at the Paris Motor Show in October, the popular European EV hatchback will about double its current range. Using a new battery pack from LG Chem, as well as a smaller, more efficient electric motor, the improved range would help make the Zoe even more popular as people make the switch to electric driving in Europe. Read more from Electrek. Related Gallery 2016 Renault Zoe Z.E.: Geneva 2016 View 16 Photos News Source: Green Car Reports, Green Car Reports, Autocar, ElectrekImage Credit: Kia Government/Legal Green Kia Renault Electric recharge wrapup