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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.

Kia Soul getting turbocharged variant, say hamsters

Last week, we reported on the return of Kia's Soul-promoting hamster mascots. They took on "Dueling Banjos," and it was adorable and entertaining and everything we expect from our favorite spokesrodents. But that same spot also hinted at something strange on the end slide – a Soul Turbo, coming this winter. One Autoblog staffer said I must have been so overcome by the return of my favorite spokeshamsters that I missed the end slide the first time around, and that might be true. Instead of debating that, let's focus on just what Kia revealed here. The company has long hinted that a higher-performance Soul was in the works, embodied by the Track'ster and Trail'ster concepts from 2012 and 2015. Both cars used a version of Hyundai/Kia's 1.6-liter, turbocharged four-cylinder, tuned to 250 hp in the Track'ster and 185 hp in the Trail'ster, which had the added bonus of a hybrid assist. Both added all-wheel-drive systems to the front-drive Soul package. A production Soul Turbo will likely fall between the hot-hatchback-like Track'ster and the off-road-focused Trail'ster. Expect Kia to pluck the corporate 1.6-liter turbo four for duty, with anywhere from 175 to 201 hp – we can hope for more, but that power spread covers Hyundai/Kia's current production trims for this engine. All-wheel drive seems like a given, based on Hyundai's approach to the Tucson, Kia's past few concepts, and the Soul's positioning as a sub-compact CUV. We've reached out to Kia for confirmation that the Soul Turbo is coming. As soon as we hear back, we'll update this post. And if you need a refresher on the video, we've embedded it below. The text in question pops up at 1:46. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Kia expects US to be Soul EV's top market

While its sister brand Hyundai invests in hydrogen fuel cell technology, Kia is entering the battery-powered electric vehicle market with the new Soul EV. The Korean automaker plans to sell some 5,000 units of its first electric vehicle around the world. While it's not saying exactly what proportion it hopes to sell in (or how many it's allocating to) any individual market, the latest reports indicate that it expects the United States to be its biggest market.
Part of that may come down to the growing popularity of electric vehicles in America, but also to the substantial incentives offered by federal and local government agencies towards buying an EV. Though the Soul EV retails for a reported 42.5 million won in South Korea - equivalent to less than $41,500 at today's rates, of which the battery alone accounts for about 40 percent - incentives will mean that the actual cost to a buyer in the US will be about half that, although Kia hasn't announced official pricing yet.
The latest electric vehicle on the market is based on the existing Kia Soul hatchback, a vehicle chosen due to its packaging vis-à-vis more conventionally shaped vehicles. The 27 kWh lithium ion battery pack adds about 330 pounds to the vehicle's curb weight, resulting in a 0-62 time of 11.2 seconds and a 92-mile range. The Kia Soul EV will initially be sold only in California, Oregon, New York, New Jersey and Maryland.