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Are old airbags killers?

Takata airbags may not be the only ones with some very serious problems. A new report from TheDetroitBureau.com claims that the National Highway Traffic Safety Administration has opened its second investigation into bad airbag inflators, and this time, they aren't from Takata. The focus of this latest case is on the airbag inflators in some 500,000 older Chrysler Town and Country minivans and Kia Optima sedans, all of which come from ARC Automotive. While the Takata case looks at problems stemming from the engineering and production process, the ARC investigation focuses on the age of the inflators. As TDB explains, airbag inflators are essentially what the military refers to as shaped charges, sort of like Claymores (for fans of the Call of Duty series). In combat, they blow up in a specific direction, protecting those behind the explosion, although in the case of airbags, the explosion "[creates] a precise rush of hot gases" that inflate the bags. NHTSA's worry is that with the increased average age of today's vehicles, years and years of being bounced, jolted, and shaken about and exposed to often-radical temperature changes have altered the nature of the explosives in these vehicles, causing too big of an explosion. "It may be a reasonable assumption that as these things age they deteriorate." – Analyst George Peterson "It may be a reasonable assumption that as these things age they deteriorate," analyst George Peterson told TheDetroitBureau.com. NHTSA boss Mark Rosekind backed up aging angle. "Cars are lasting on the road a lot longer than ever before," Rosekind told TDB, adding that seals could start breaking down. "Is aging now an issue? That's part of the investigation going on." NHTSA has only identified two "incidents" so far, although according to Center for Auto Safety Director Clarence Ditlow, there's genuine concern that there could be additional unidentified cases. "Could we have missed more? That could be the case," Ditlow told TDB, citing the misidentified deaths in the Takata investigation. Ditlow was quick to point out that, even in older vehicles, airbags are much more likely to protect than harm. "No one is saying you should disable your airbags," the safety advocate told TDB. "You're far more likely to be helped than hurt by one if they go off." At least one automaker, meanwhile, has already been advised of the investigation by NHTSA and is checking its airbags.

Hyundai spooks investors by paying $10B for new Gangnam HQ location

Doing things Gangnam style apparently costs a serious chunk of change, because Hyundai is reportedly paying roughly $10 billion for 19.6 acres (79,342 square meters) of land in the trendy district of Seoul, South Korea, to serve as the location for its new headquarters. That eye-popping number represents the highest amount ever paid for a plot of land in South Korea, according to Reuters. The hefty price tag reportedly scared investors enough for stock prices to sink dramatically.
Shareholders were apparently upset because the massive outlay could instead have been put back into the company for research and development or other improvements. Instead, the company reportedly bid triple the land's appraised value, says Reuters. The announcement caused Hyundai's stock price to plummet a massive 9 percent, and there were losses from Kia and the company's parts arm, as well. All told, the three of them lost nearly $8 billion in value from the falling share prices - almost enough to pay for the controversial land.
Hyundai currently has its headquarters on the outskirts of Seoul, but seems keen to move to the high-end Gangnam district to show off its rising status. It plans to build a new office complex, hotel, convention center and theme park on the site. According to an analyst speaking to Reuters, that could all cost an additional $6 billion to complete.

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.