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Hyundai plans to catch up with other automakers, offer EVs

YONGIN, South Korea (Reuters) - South Korea's Hyundai Motor Co is developing its first dedicated architecture for electric vehicles, seeking to catch up with the likes of Tesla in the growing segment with multiple, long-range models. While the platform will not be completed soon, Hyundai Motor and affiliate Kia plan to roll out small electric sport utility vehicles (SUVs) based on an existing underpinning next year, said Lee Ki-sang, who leads Hyundai-Kia's green cars operations. Hyundai will launch an electric SUV, followed by a sibling model by Kia Motors next year, Lee said, citing strong demand for SUVs. The subcompact or compact models would have a range of more than 300 km (186 miles) per charge, and would be "more competitive" than rival offerings, Lee said. And Hyundai said in a statement on Thursday that it plans to launch a new luxury electric vehicle under its Genesis marque in 2021, after introducing a plug-in hybrid version of an unidentified Genesis model in 2019. The separate platform represents a major push into the battery electric-car segment for a firm which has long trumpeted rival fuel-cell vehicles, reflecting strong investor pressure to compete more vigorously in a market that has been stimulated by U.S.-based Tesla's longer-range models. And tough fuel-economy and emissions regulations in the United States, Europe and China are compelling automakers to push fuel-efficient cars even though low oil prices have undercut demand. Hyundai's electric-car platform would allow the automaker to install a battery pack in vehicle floors to accommodate more battery capacity and maximize cabin space, Lee said. "The electric-vehicle platform will require high up-front investments, but we are doing this to prepare for the future," he said at Hyundai-Kia's green car research center in the city of Yongin, outside Seoul. He did not reveal the cost. Lee, a senior vice-president at Hyundai Motor, was speaking during an interview on the eve of an auto show that kicked off in Seoul on Thursday. Analysts said Hyundai had no choice but to build separate electric-vehicle platforms to be relevant in the segment. "The separate platform may incur losses initially, but Hyundai will be left behind the market if they don't offer long-distance models, like 300 km, 500 km and 600 km," said Ko Tae-bong, an analyst at Hi Investment & Securities.

Driverless cars from Kia hit the road in Nevada

Drivers in Nevada might soon spot a Kia Soul EV that pilots itself because the South Korean brand is the latest automaker to get authorization from the state to test autonomous vehicles on public roads. Kia's development of driverless tech is part of the company's $2 billion investment with Hyundai through 2018 to help bring some of these systems to production models. Rather than handing complete control to the computers immediately, Kia first plans to introduce partially driverless features on models by 2020. Its engineers intend to test technology like Traffic Jam Assist, Highway Autonomous Driving, Urban Autonomous Driving, an Emergency Stop System, and Autonomous Valet Parking on Nevada's roads. Kia doesn't foresee a fully piloted model on sale until 2030 and believes innovations in vehicle-to-vehicle and vehicle-to-infrastructure communications are necessary to make that possible. Nevada has been a vital site for autonomous technology development since the state passed a law to allow testing on public roads. Google was among the earliest to get a permit, and Audi also quickly jumped on board. Freightliner was first to expand the authorization to commercial vehicles with its license for the Inspiration semi truck earlier this year. We're sure more will follow in short order. Related Video: Kia Motors granted Nevada autonomous driving license - US state of Nevada grants Korean manufacturer permission to test autonomous driving technologies on public roads - Soul EV's Advanced Driver Assistance Systems tested in Beatty, Nevada - US$2 billion investment by 2018 to develop autonomous vehicle technology - Kia to introduce partially-autonomous driving technologies by 2020, with arrival of fully-autonomous vehicles targeted for 2030 (SEOUL) December 14, 2015 – Kia Motors has been granted a licence by the US state of Nevada to carry out testing of its autonomous driving technologies on public roads for the first time. Kia – together with sister company Hyundai – hopes to experiment with partially- and fully- autonomous driving technologies in real-world conditions, an important part of its roadmap for autonomous driving. Kia plans to introduce a range of partially-autonomous driving technologies to its model line- up including eco-friendly vehicles by 2020, and is aiming to bring its first fully-autonomous car to market by 2030.

What a strike in Korea could mean for US Hyundai and Kia buyers

A prolonged factory strike at Hyundai-Kia factories in South Korea could mean that US dealership inventory of certain vehicles, such as the South Korea-built Hyundai Accent and Kia Soul, could dry up in the coming months, depending on the length of the strike, reports Cars.com's blog, Kicking Tires. The two brands together rank sixth in US sales and fifth in global sales.
Kicking Tires gives fascinating insight into how a production stoppage in South Korea might affect vehicle sales in the US, considering Hyundai-Kia has two factories in the US that build the Kia Sorento and Optima/Optima Hybrid, and the Hyundai Elantra sedan/coupe/GT, Sonata/Sonata Hybrid and Santa Fe/Santa Fe Sport. The only one of these vehicles that's built solely in the US is the Kia Sorento, with the rest of them sharing production with South Korea.
Be sure to read the piece, especially if you're in the market for a Hyundai or Kia, or just interested in global economics.