2014 Hyundai Genesis 3.8 on 2040-cars

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Hyundai outlines EV strategy as it struggles with cost of engine defects

SEOUL — South Korea's Hyundai Motor pledged to boost sales of electric vehicles to over half a million by 2025 as part of a bid to focus on new technologies and catch up with rivals, but some analysts saw the target as conservative and warned of the costs. The announcement by Hyundai, the world's fifth largest car maker along with affiliate Kia Motors, underscores the accelerating strategy shift under Euisun Chung, who became the motor group's executive vice chairman last year. Hyundai announced a $35 billion investment last week in mobility and other auto technologies by 2025, less than a month after unveiling a $1.6 billion deal to develop self-driving vehicle technologies with Aptiv. The firm said on Thursday it plans to launch 16 EV models by 2025 to boost sales of such vehicles 17-fold to 560,000 by that year. Still, that would be equivalent to just over 10% of its projected global sales this year. The projection compares with more bullish forecasts offered by its bigger rivals. Volkswagen AG expects to make 22 million EVs over the next decade, while General Motors aims to sell 1 million EVs annually by 2026. "That is not an ambitious target. If Hyundai fails to boost volumes fast enough, costs of electric cars will weigh on profitability," Lee Jae-il, an analyst at Eugene Securities & Investment. Hyundai said that the EV market would face intensifying competition and oversupply soon and automakers failing to meet toughening European emissions regulations will face heavy penalties and suffer a serious blow to their reputation. "EV supply is expected to surpass demand from the second half of next year," Ka Suk-hyun, vice president of Hyundai Motor, told an earnings conference call. Quality issues Hyundai's third-quarter net profit rose 59% to 427 billion won ($365 million), well below the average 684 billion profit estimate of analysts based on Refinitiv data, due to 600 billion won provisions it earmarked to address potential engine defects in the United States and South Korea. Quality issues have been a major drag in Hyundai's attempt to steer a recovery from six consecutive annual profit declines and constrained its financial firepower to invest in future technologies. It is still under investigation by U.S regulators and prosecutors over potential faulty engines in some models. Total retail sales fell 3% in the third quarter, as higher U.S.

Hyundai's Genesis G90 caught totally uncovered

It seems weird to type "Genesis" without "Hyundai" in front of it – unless we're referring to the band, of course, which we aren't. What we have here is the first car that'll launch under Hyundai's new premium brand, officially called Genesis. This is essentially the replacement for the Equus, and when it reaches the States, it'll be called G90. The G90 clearly makes strong use of Hyundai's "Athletic Elegance" design language, and looks like a more premium version of the existing Genesis sedan. There's a long hood, hexagonal grille, and vertically oriented taillamps that flow down the rear fascia. Judging by these low-res spy shots, we like what we see – even if, from some angles, it looks strangely familiar. Genesis (the brand) launches next month in Hyundai's home market. Following the G90, the Genesis sedan as we currently know it will move to G80 nomenclature, and a midsize, rear-wheel-drive sedan – G70 – will follow. A luxury SUV and sport coupe will round out the premium lineup. Head over to Korean site Bobaedream.co.kr for a view of the G90's rump, as well.

2013 Hyundai Veloster Turbo: May 2013

Although I went on the Portland launch of the regular-strength Veloster back in late 2011, my time in the Turbo model was previously limited to one very brief commuting experience, so I was glad to get some time in our long-term matte gray model this month. In a way, I lucked out, grabbing the key fob to our Hyundai just as the weather in mid-Michigan finally acknowledged spring's existence. The temperature change afforded us the chance to swap out the all-season Kumho Solus KH25 rubber that it arrived with in January for its optional ($1,200) Michelin Pilot Super Sport tires (215/40ZR18), an almost absurdly major-league, high-dollar set of shoes for what is actually only a hottish hatch.
You might have expected the Veloster Turbo to slide under the radar in such high-performance and shouty company, but the truth is it was a little magnet for attention.
With the new footwear freshly installed, I made a beeline for South Bend, Indiana for the start of this year's One Lap of America, an event I've been staffing for well over a decade. I rolled into the Tire Rack headquarters' expansive parking lot, parking the VT alongside the competitors, whose vehicles appeared "cunningly disguised as racecars," covered with all manner of sponsorship stickers and graphics. You might have expected the Veloster Turbo to slide under the radar in such high-performance and shouty company, but the truth is it was a little magnet for attention.