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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.

Hyundai will add Ioniq EVs to WaiveCar car-sharing fleet

Hyundai Motor America will add its Ioniq electric vehicles to a Southern California-based car-sharing fleet that launched earlier this year with Chevrolet Spark EVs. Hyundai reached an agreement with Santa Ana, Calif.-based WaiveCar in which Hyundai will provide 150 Ioniq EVs to the fleet by the time sales begin for the model early next year. Hyundai may add an additional 250 Ioniq EVs to WaiveCar fleets in other cities. WaiveCar is an app-based car-sharing service that debuted in Los Angeles in early 2016. The company offers drivers the cars for free for the first two hours, then charges $6 an hour for more time. WaiveCar also generates revenue via external advertising wraps around the vehicles, and also features geo-located targeted ads. Take a look at Hyundai's press release about the WaiveCar agreement here. Curiously, and somewhat admirably, Hyundai earlier this week went on record as saying the Ioniq's 124-mile single-charge range won't be sufficient in the long haul. The South Korean automaker has vowed to replace the upcoming version with an Ioniq EV for 2018 that will be able to go at least 200 miles on a full charge. That's not a bad move, considering General Motors is preparing to launch its Chevrolet Bolt EV, while Tesla is working on its Model 3. Both of those models will have 200-mile-plus full-charge ranges. Hyundai announced the incoming sales of the Ioniq EV earlier this year. A hybrid version of the Ioniq also debuted in South Korea earlier this year. Overall, Hyundai is looking to debut more than two-dozen hybrids, plug-ins, and fuel-cell vehicles to the world by the end of the decade. Related Video:

Hyundai N Performance division working on 'exotic' halo model like the RM16

This is the year of Hyundai N Performance. After three official launches, the division's leadership has made imprecise noises about a halo car since this summer. Brand boss Albert Biermann said, "Right now, we don't need a halo car in N. We have to get in a routine with N cars, and not just hit a peak." Around the same time, VP Thomas Schmera said, "Rest assured we are coming up with something," that something being a halo car. Reports expected either a two-seat coupe or a four-door sedan like the Kia Stinger. In a recent interview with AutoRAI, Schmera narrowed the focus, saying, "Think of the Hyundai RM16 and you have a bit of an idea of what is possible." The RM16 is the third iteration of the mid-engined Veloster RM first showed at the Busan Motor Show in 2014. In 2015 the RM15 debuted at the same motor show, followed in 2016 by the RM16. By then, the performance specs listed a 2.0-liter turbocharged four-cylinder with 296 horsepower, an electric compressor and electronic differential, rear-wheel drive and a six-speed manual. The bodywork, draped on an aluminum spaceframe, channeled the spirits of other outrageous mid-engined hatchbacks like the Renault 5 Turbo, Renault Clio V6 Renault Sport, and Lancia Delta S4. Four months after showing the RM16, Hyundai took a running prototype to the Nurburgring (pictured). Earlier this year we heard tale of a new Theta III engine suited for front- and rear-wheel drive, and mid-engined applications. With the ability to be tuned to 350 hp, this led to suspicion that there could be a mid-engined Hyundai sports car on the way. The evidence is circumstantial, but now we have Schmera telling us to consider a long-lived mid-engined concept as the potential template for a future N Performance halo car. The idea of Hyundai rolling out a mid-engined coupe sounds crazy. It sounds doubly crazy when Biermann has said of the i30 N, "This is a halo car that can make [the company] money, so what better halo can we get?" Hyundai knows its math better than we do, but we don't see how the carmaker makes money in a segment ruled by the Porsche 718 twins under $100K, and by a number of storied brands above that figure.