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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.

Kia Niro EV concept coming to CES

Kia announced that it will show a new electric concept car at this year's Consumer Electronics Show. The announcement didn't explicitly say what the vehicle is, but that's fine, because the teaser images above reveal the car's "secret" identity. At the back of the car are bright glowing letters spelling out the name "Niro EV." Even without seeing the name, the images make it pretty clear this is a Niro of some sort. The profile fits the production hybrid and plug-in hybrid production cars, especially the upright and wide rear hatch. It also has the Niro's distinct hood with twin creases above the headlights. There are a number of styling changes, though, mainly up front. The headlights look to be more swept back and have LED strakes for style. The taillights mirror this design, and they add a center portion between the main elements to make the lights full width. Additional three-pointed fog lights are also added front and rear. The grille at the front is no longer a grille, instead now featuring a bunch of little lights. This may have something to do with the "motion graphic" lighting technology Kia will show on the car, since it looks like the pattern and intensity could change. The shape of this faux grille panel also looks wider and slimmer than that on the production Niro. On the topic of production Niros, we wouldn't be surprised if this full EV Niro makes it to market. The Niro is based on the Hyundai Ioniq, which itself offers normal hybrid, plug-in hybrid, and full electric variants. And since the Niro is already available in hybrid and plug-in versions, a full EV would round out the model nicely. It wouldn't be without work, since the electric version of the Ioniq has a torsion bar suspension rather than the multi-link setup in the hybrid Ioniqs and Niros in order to fit the larger battery pack, but it's far from impossible. Stay tuned for more info on the concept and any news on a production version. Related Video:

The Kia Niro gets a plug-in model at Geneva

The Geneva Motor Show is usually a supercar event, but that didn't stop Kia from showing off the Niro hybrid. A new battery and some minor styling tweaks distinguish this Niro from the current model. The important part here is in the back of the little crossover. The standard Niro's 1.56-kilowatt-hour battery is replaced with a much higher capacity 8.9-kWh battery. When we test drove the standard Niro, Kia's representatives told us this battery should propel the Niro PHEV about 25 miles on a charge. For the European release, the range is listed as 55 km, which converts to 34 miles. However, this is likely a quirk of European fuel economy testing, which often yields higher numbers than American testing. Regardless, the Niro will have an electric range in the same ballpark as the Prius Prime plug-in hybrid. The new battery, besides offering more range, is also physically larger. It's placed under the cargo floor and rear seat, and the larger size means the cargo area shrinks by a little over 3.5 cubic feet. However, Kia says that the rest of the interior is unaffected. And an unusual note, Kia will offer a towing package that will allow the Niro PHEV to pull a trailer with brakes weighing up to roughly 2,900 pounds, although it's unclear if this is a European-only option. The Niro PHEV has a few minor styling tweaks as well. The chrome trim on the front and rear bumpers now has slim light-blue lines along the edges. The black rub strip along the doors on the normal model is now a metallic finish on the plug-in. The headlights are changed, too. Square-shaped projectors take the place of the round units on the standard model. The Niro plug-in will go on sale in Europe in the third quarter of 2017. We were told by Kia representatives on the standard car's press drive that it would arrive here by the end of the year. Related Video: