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Hyundai shoots down the rumor claiming it is done developing engines

Hyundai has clarified that the recent rumor claiming it had stopped developing gasoline- and diesel-burning engines to focus on various forms of electrifications is false. It said that development work remains on-going and that the internal combustion engine still has a future. "Hyundai Motor Group can confirm that it is not halting the development of its engines following recent media speculation. The Group is dedicated to providing a strong portfolio of powertrains to its global customers, which includes a combination of highly efficient engines and zero-emissions electric motors," said senior group manager Michael Stewart in an interview with Motor1. The report that emerged in late 2021 claimed that the Hyundai Group (which includes the Hyundai brand, Kia, and Genesis, among other entities) had completely stopped designing piston-powered engines to focus on electrification. It claimed that most of the engineers had been assigned new roles related to electrification, though it also noted that some were staying behind to continue refining the technology. If this sounds familiar, it's likely because Hyundai recently shot down a separate but similar rumor that said it had put the hydrogen-electric powertrain it planned to install in many of its cars (including some upmarket Genesis models) on hiatus. The carmaker explained that it has merely reshuffled the team that's developing the technology because unspecified technical hurdles have slowed down the project. Several electric Hyundai models are in the pipeline, including the production version of the Prophecy concept unveiled in 2020 and a relatively big SUV previewed by the 2021 Seven concept. But, its comments suggest that more gasoline-powered models are on the way as well, which is great news; its range of N-tuned high-performance models includes excellent cars and there's still room for it to grow. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Kia Soul EV priced at $33,700*, leases start at $249/month

Kia must have thought VW was aiming a little high when the German automaker priced its upcoming electric vehicle for the US market. Kia has just announced that the price for its new Soul EV will be $33,700 (before any tax incentives) when it comes to the US later this year. That's well above the base model Nissan Leaf, which starts at $28,980, but a few thousand dollars below the Volkswagen e-Golf, which starts at $35,445. The upper end Plus model starts at $35,700. The Soul EV will come in two trim levels, with the upper end Plus model starting at $35,700. The extra $2,000 will get you leather-trimmed heated and ventilated seats, fog lamps and power folding mirrors. As any EV driver in a cold climate will tell you, heated seats can do a lot for your body comfort when electrons count. Every Soul EV will have an onboard 6.6-kW charger, a nav system, a rear camera and Kia's UVO EV Services connection (with app) – as well as Kia's $800 destination charge. There are a few more details in the press release below. The Soul also has something that its competitors don't: an official range of 93 miles thanks to a 27-kWh lithium ion battery pack. The Leaf sits pretty at 84 miles while the e-Golf has not yet been officially rated. For those more interested in leasing than buying, the cost will be $249 per month with $1,999 down for the base model. Kia will announce more lease details closer to launch this fall. By the way, the Soul EV will be "initially available in certain California markets only with limited availability," so only some of you will have the option to get one from the start. Kia has said that the Soul EV will be available in other states –Oregon, New York, New Jersey and Maryland – as well, so expect announcements on that front at some point. 2015 KIA SOUL EV PRICING ANNOUNCED Starting MSRP of $33,700(1)(not including federal tax rebate of $7,500) with an expected introductory lease price(2) of $249 per month makes all-new Soul EV a compelling offer for eco-conscious buyers The 2015 Soul EV is Kia's first mass-market, all-electric, zero-emissions car and the centerpiece of the brand's Clean Mobility program Fully electrified variant retains Soul's funky design while delivering best-in-class(3) EPA-estimated driving range of 93 miles(4) IRVINE, Calif., September 11, 2014 – Kia Motors America (KMA) today announced pricing for the all-electric version of its hugely popular urban passenger vehicle, the Kia Soul.

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.