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Hyundai Motor shares slide following U.S. probe of airbag failures

SEOUL — Shares in Hyundai Motor tumbled on Monday on a U.S. probe into why airbags failed to deploy in some of its Sonata sedans, with investors fretting about potential recall costs for the once popular cars. The probe, which follows crashes that reportedly killed four people and left six injured, will review the 2011 Sonata sedan as well as the 2012-2013 Forte made by affiliate Kia Motors, encompassing some 425,000 vehicles. It marks the second investigation by the U.S. National Highway Traffic Safety Administration into the South Korean duo in less than one year, exacerbating headaches for Hyundai which reported in January its worst annual earnings in seven years. Hyundai has issued a recall for more than 150,000 U.S. Sonatas after incidents of non-deployment were linked to electrical overstress in the airbag control unit, but said it did not have a final fix. "What I am concerned about is that the recall will be expanded to other markets," said Ko Tae-bong, an analyst at Hi Investment & Securities. The Sonata and Forte sedans were responsible for driving sales for Hyundai and Kia in key markets in recent years, although they are no longer as popular as they once were. Ko estimated the U.S. recall could cost as much as $575 million if airbags were replaced in 425,000 vehicles under review and the automakers were found responsible for the problem. Hyundai Motor shares tumbled 4.8 percent while Kia Motors lost 3.7 percent. Parts supplier Hyundai Mobis fell 5.4 percent while the broader market was down 0.7 percent. Hyundai declined to comment on whether the recall would be expanded. Kia said it has not confirmed problems with the airbags but added it would "act promptly to conduct a safety recall, if it determines that a recall would be appropriate." The automakers told the South Korean regulator that the Sonata and Forte models sold in the domestic market were not affected, an official at South Korea's transport ministry told Reuters. The U.S. regulator said the airbag control units were built by ZF Friedrichshafen-TRW, a German auto supplier that acquired TRW Automotive in 2015, adding that it would determine if any other manufacturers used similar airbag control units and if they posed a safety risk. The NHTSA also said that electrical overstress appeared to be the root cause in the 2016 recall by Fiat Chrysler America of 1.4 million U.S. vehicles for airbag non-deployments in significant frontal crashes.

Hyundai Kona Electric SUV revealed

Recently, Hyundai hinted at some of the details of the all-electric version of its Kona subcompact SUV. The automaker stated that the EV crossover would be available with a pair of powertrain offerings, one of which being "one of the most powerful electric engines on the market" with a driving range of 292 miles. Now, the Korean automaker has revealed the Kona Electric in advance of the upcoming Geneva Motor Show. The Hyundai Kona Electric looks like its hybrid siblings, with the biggest visual difference up front, with its closed grille. That's also where the car's plug resides. It features LED daytime running lights above its LED headlights. The Kona Electric offers a two-tone roof, and seven different exterior paint color offerings. On paper, at least, the Kona Electric is pretty compelling. The long-range, 292-mile version features a 64-kWh lithium-ion polymer battery pack supplying power to a 150-kW (201-horsepower) electric motor. It does 0-62 miles per hour in a respectable 7.6 seconds, with a top speed of 103 mph. The base version's 39-kWh battery offers 186 miles of driving range, and a 99-kW (133-horsepower) electric motor. It does 0-62 in a more leisurely 9.3 seconds. Inside the car, the Kona Electric features a pair of paddle shifters behind the steering wheel that allow the driver to dial in the preferred amount of regenerative braking force. A seven-inch digital display in the instrument cluster is accompanied by a head-up display providing key information directly in front of the driver. The car's infotainment system features Apple CarPlay and Android Auto and wireless phone charging. The Kona Electric offers a number of driver assist features for safety and convenience. These include forward collision avoidance with pedestrian detection, blind spot warning, rear cross-traffic alert, lane-keeping assist, intelligent speed limit warning and smart high. It also offers smart cruise control with stop-and-go capability to make those traffic jams a little more bearable. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2019 Hyundai Kona Electric: Geneva 2018 View 10 Photos Related Gallery Hyundai Kona Electric View 9 Photos News Source: HyundaiImage Credit: Live photos copyright 2018 Drew Phillips / Autoblog.com Green Hyundai Green Automakers Crossover SUV Electric 2018 Geneva Motor Show hyundai kona hyundai ev hyundai kona electric

Hyundai leased 70 Tucson fuel-cell vehicles in first year

Since going on sale in the early summer of 2014, Hyundai has leased around 70 of its hydrogen fuel-cell-powered Tucson CUVs. That's the number that Mike O'Brien, Hyundai's vice president of corporate and product planning, revealed at a green vehicle event in Huntington Beach, CA, this week. There's a reason for the low number, O'Brien said. "Of course, everybody asks 'Why 70?' and it's basically tied to the number of fuel stations that are available," he said. "We were the first to actually pass over ownership of the vehicle, it's not a test program. It helps people put their money on the table, and they lease the car from us and it's their car. The customers that we've leased the vehicle to are ones that live close to a fuel station. "Right now there is less than 10 in the state of California. By the end of this calendar year, there should be in the mid-20s. And then, of course, under Gov. Jerry Brown's $200 million towards construction, I believe about 100 stations [will come online] through the end of the next couple of years. As those stations get built out, we're taking more and more applications for vehicle sales." In January 2014, O'Brien told AutoblogGreen that 88,000 people had expressed an interest in owning a fuel-cell Tucson. O'Brien said that Hyundai needs the customers to be close to a hydrogen station so that driving the car feels similar to what they're used to doing. "We just want to make sure there is a satisfying experience of ownership, and that's the most important thing, to make that their ownership experience matches what they've experienced with a gasoline car," he said. The Hyundai Tucson Fuel Cell can be leased for $499 a month, which includes free refueling. For the 2016 model year, the Tucson FCV gets HomeLink connectivity in the rear-view mirror and two new exterior colors, Hydro Blue and Chromium Silver, in addition to the already available Winter White. 2016 Hyundai Tucson Fuel Cell Continues To Attract Zero-Emissions-Focused Customers With New Colors And Features World's First Mass-Produced Fuel Cell Vehicle Available For $499 per month Lease Includes Unlimited Free Hydrogen Refueling and At Your Service Valet Maintenance FOUNTAIN VALLEY, Calif., May 22, 2015 /PRNewswire/ -- Hyundai's zero-emissions, hydrogen-powered Tucson Fuel Cell vehicle continues to satisfy and attract new customers focused on high-versatility and clean transportation.