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Hyundai, Kia announce buyback plan for angry Korean investors

Hyundai's controversial decision last September to move its Korean headquarters to an expansive (and expensive) new facility was met with a swift backlash by shareholders. After making the biggest land purchase in South Korean history, the company's share price took a nine-point nose dive.
Now, in a bid to get back in the good graces of its stockholders, Hyundai and its subsidiary, Kia, will make a $615-million stock buyback plan. Reuters claims this is the first time in ten years that Hyundai has made a buyback offer with the explicit purpose of pumping up share prices.
The total deal bumped up Hyundai's share prices 5.7 percent while Kia is up two percent, although neither company has fully recovered from the battering that followed the headquarters announcement. It's unclear what else it will take for Hyundai to recover the ground it lost during the land deal.

Kia recalls over 50k new Soul compacts over steering issue

Kia is recalling certain 2014 models of its adorable Soul due to a bad adhesive used in the steering system. According to the bulletin from the National Highway Traffic Safety Administration, the "thread-locking adhesive" that attaches the plug between the pinion gear and steering gear assembly could come loose.
Should that happen, the condition could lead to a "loss of steering," which, of course increases the likelihood of a crash. The 51,641 affected cars were built between July 21, 2013 and January 17, 2014. There have been no reported accidents, let alone injuries or deaths due to this issue.
Kia is in the process of notifying owners of the affected vehicles as well as dealers in possession of the faulty Souls.

Kia continues Ecology Center support, donates Soul EV

Kia is reaffirming its green side by continuing its support of The Ecology Center in San Juan Capistrano, CA. In addition to events at the company's American headquarters in Irvine, CA, the Korean automaker is donating a Soul EV for the non-profit organization to use. The Center's goal is to educate the people of Southern California in food, water supply and energy conservation. This is the third year of Kia's partnership with the group. The Soul EV should go perfectly with last year's donation of two charging stations, too. To get people motivated about the environment, the Center offers events like film screenings, classes, and camps for kids. After it hit the market late last year, the Soul EV has proven reasonably popular. Sales started exclusive to California, but Kia recently decided to broaden the offering to Texas, Georgia, Oregon, Washington, and Hawaii. The electric hatchback offers drivers 109 horsepower and 210 pound-feet of torque with an official 93-mile range from a 27-kWh, lithium-ion battery. KIA MOTORS AMERICA RENEWS PARTNERSHIP WITH THE ECOLOGY CENTER AND PROVIDES SOUL EV TO SUPPORT COMMUNITY OUTREACH EFFORTS Automaker's "Visionary" Sponsorship of San Juan Capistrano-Based Eco-Education Center Supports Awareness and Education about Food, Water Supply and Energy Conservation Partnership with The Ecology Center supports Kia's diverse corporate sustainability practices Two electric vehicle charging stations available at The Ecology Center IRVINE, Calif., June 23, 2015 – Kia Motors America (KMA) today announced the renewal of its partnership with The Ecology Center, a San Juan Capistrano, California-based non-profit eco-education center dedicated to creating a healthy and abundant future for all of Southern California and beyond. In its third year as a "Visionary" partner, Kia is providing the use of a 2015 Soul EV to The Ecology Center, which complements the two electric vehicle charging stations installed as part of the partnership last year. Kia and The Ecology Center will organize and carry out sustainability-themed learning projects at the KMA campus in Irvine, California, and in the surrounding community, and both organizations will continue work together to plan hands-on conservation and volunteer activities at The Center.