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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.

Surprise Costs Have A Cost: Why we turned down the Hyundai Tucson Fuel Cell

They say you can always tell the pioneers. They're the ones with the arrows in their backs. Unfortunately, that was our experience pursuing – and eventually rejecting – the new hydrogen fuel cell-powered Hyundai Tucson. I first heard about Hyundai's new hydrogen fuel cell vehicle (FCV) at the Los Angeles Auto Show in November 2013. As a tech buff, the thought of driving a new, clean technology vehicle sounded exciting. Best of all, Hyundai was wrapping the new vehicle in a smart, familiar package, as a loaded current-generation Tucson SUV. The FCV Tucson was billed as $499 a month with $2,999 down, with free fuel and free maintenance. Our family needed a new, small, fuel efficient SUV, so I signed up for information on the upcoming lease program. Someone has to go first. Why not us? In the spring of 2014, I learned more at a Clean Fuel Symposium, held on the Queen Mary in Long Beach. The panel was packed with experts on alternative fuel vehicles. One spokesperson outlined the chicken or egg problem with alternative fuels like hydrogen: fuels first or vehicles? Another said something that I should have heard more clearly. "If the argument [to move to alternative fuel vehicles] has to start with a change of behavior from consumers, that's a hard row to hoe." I would soon to learn what an FCV would really cost, both in hours and in dollars. Nonetheless, I was ready to try jumping the hurdles and get an alternative fuel car. A low impact on the environment, plus free fuel and a solo car pool lane sticker? What could go wrong? My wife was a much harder nut to crack. My habit of jokingly calling it a "nuclear-powered" car probably didn't help much either. Our conversations went like this: "A what kind of car?" "Hydrogen fuel cell." "What?" "It's essentially an electric car." "Don't those things have a really short range?" "Yes. That's what the hydrogen is for. You fill it with hydrogen to fill the fuel cell, instead of charging it overnight like an electric car." "Where do you get hydrogen?" "Well..." It turned out the nearest hydrogen station was in Burbank, about 13 miles from our house. In LA traffic, that could be more than half an hour's drive each way. Since there's an excellent bakery in Burbank (Porto's), I told my wife I was fine with taking the time each week to fuel up every 200 miles or so.

2017 Hyundai Elantra Sport aims to be the Korean Jetta GLI

We've had a good idea of what the upcoming Elantra Sport would be like thanks to Hyundai's reveal of the Avante Sport, the quicker version of the Elantra's Korean-market twin. Now we know just how similar the two are: essentially identical. The Elantra Sport features a turbocharged 1.6-liter four cylinder engine that anyone familiar with the Veloster Turbo will recognize. Oddly though, at 200 hp and 190 lb-ft of torque, the engine is rated 1 horsepower and 5 lb-ft of torque less than either the turbo Veloster or Avante. The front-wheel drive Elantra Sport can also be ordered with either a 6-speed manual or 7-speed dual clutch transmission. We're happy to report the Elantra Sport and its Avante twin will share a new multi-link rear suspension. This replaces the less sophisticated torsion bar suspension and will hopefully contribute to more agile handling. Hyundai did not announce whether the Avante Sport's optional "extreme package" anti-roll bars, springs and shocks would be available in the States. We certainly hope they will at least be an option. The Avante Sport and Elantra Sport will also share exterior and interior updates. These updates give the fastest Elantra a subtle, classy look. Larger intake vents, a rear diffuser panel, larger wheels and slightly extended ground effects all say sporty without shouting it. The theme continues inside with red stitching on the flat-bottom steering wheel and more aggressive "sport" seats. The Elantra Sport also finds itself in an odd position. Many of the performance cars in its size segment have moved up in power. There are some small sedans that come close to the Elantra Sport's 200 ponies such as the turbocharged Honda Civic, 2.5-liter Mazda3 and the lame-duck 2.4-liter Dodge Dart. But when it comes to enthusiast-oriented small sedans with at least 200 horses, there's only one true option: the Volkswagen Jetta GLI. In fact, the 210-horsepower GLI matches the Elantra Sport quite nicely, as it also features subtle styling and just enough sportiness to feel special. Hyundai has yet to announce pricing, but if it undercuts the German veteran by a significant margin, it could become a bargain choice for the driver who wants some, but not too much, fun. Related Video: Featured Gallery 2017 Hyundai Elantra Sport View 19 Photos Image Credit: Hyundai Hyundai Performance Sedan turbocharged jetta gli