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South Korea assists auto industry struggling with coronavirus fallout

SEOUL —  South Korea said on Monday it would provide logistical and financial support to help its auto industry through the coronavirus crisis, warning of disruptions to supply chains from Europe and the United States. The government said it would speed up customs clearance, arrange freight transportation and provide liquidity support for the industry, which employs about 12% of South KoreaÂ’s workforce, according to official figures. The coronavirus pandemic has led to shutdowns at auto factories and dealerships in the United States and Europe, which are expected to affect South Korean automakers such as Hyundai and Kia. “ItÂ’s time to prepare for the shock of a global demand contraction and European supply issues,” Industry Minister Sung Yoon-mo said in a meeting with parts supplier executives and industry associations, according to a readout from the ministry. “Survival is the most crucial thing in this unprecedented crisis when both demand and supply contract at the same time.” The ministry gave no details on how much liquidity support the government would provide or what form it might take. The assistance is part of 50 trillion won ($39 billion) in emergency financing announced last week to boost the economy. South Korea has reported 8,961 coronavirus cases and 110 deaths from the disease. Hyundai Motor closed its Montgomery, Alabama, assembly plant on Wednesday after an employee there tested positive for COVID-19. It also suspended production at its plants in the Czech Republic and India due to the coronavirus outbreak. Europe and the United States account for about 70% of Korean automakersÂ’ exports, and 54% of Korean parts exports, government data showed. A trade ministry official said South Korean exports would deteriorate in April and May, after rising 10% year-on-year in the first 20 days of March. Car exports rose 13.7% in the period, customs agency data showed on Monday. “For the time being, a drop in exports of cars and auto-parts are inevitable as car factories and dealerships are closing,” Sung said. South Korean automakers had stocked up on inventories which could last up to two months, Sung said. Related Video: Earnings/Financials Government/Legal Plants/Manufacturing Hyundai Kia coronavirus

Hyundai i30 N getting 'fastback' variant

Overseas, the Hyundai i30, known as the Elantra GT here in America, has three total bodystyles. The first of course is the hatchback that we have here, and the other two include a wagon and a "fastback." The latter is basically a sedan with a liftback. It's also apparently the next Hyundai to get the N treatment based on these spy photos. There's no question this i30 fastback is an N. It has huge wheels and bright red brake calipers. The side skirts and rear bumper are more aggressive. And, like the normal hatchback and the Veloster N, it has a triangular rear light. But, unlike those two cars, this triangular light appears to be a rear fog light instead of a center high-mount brake light. This i30 N fastback also has the wide-set dual exhaust outlets of existing Hyundai N models. One major deviation we see on this fastback is the lack of a large rear wing. Both the i30 N hatchback and the Veloster N have large wings at the trailing edge of their respective roofs that just barely walk the line between classy and garish. The fastback seems to lack any wing at all, opting instead for just the little lip of the trunk lid found on the standard fastback. It could be that there's a bigger lip spoiler hidden under this prototype's wrappings, but that's still not a wing. Whenever the fastback does arrive, perhaps within a year, it will likely have the same two engine options available on the i30 N hatchback: a base version of the 2.0-liter turbocharged four-cylinder making 247 horsepower and a hotter iteration making 271 horsepower. The latter of these is the only available engine in the American Veloster N. And it's safe to say we won't be seeing the i30 N fastback in America. Hyundai has already made it clear that the i30 N hatch isn't coming to the U.S., despite the fact we get the normal i30 hatch. Since there's no Americanized i30 fastback, there's effectively no chance Hyundai would try to certify the body style solely for a niche model like the N. Related Video: Featured Gallery 2018 Hyundai i30 N Fastback spy shots View 19 Photos Image Credit: CarPix Spy Photos Hyundai Hatchback Performance Sedan i30 hyundai i30 Hyundai N

2017 Genesis G90 signals Equus' evolution

As predicted, Hyundai's executive-level Genesis EQ900 has crossed the Pacific to make its big debut at the 2016 Detroit Auto Show. Known in the North American market as the Genesis G90, the first-ever vehicle for the new Genesis brand will occupy the same position as the old Hyundai Equus at the top of the heap. That means lots of interior space, most of which is finished in luxurious materials and stuffed full of technology. From the lone interior image Hyundai sent out, the cabin is clearly an evolution of the Equus' aesthetic. There's a large swath of real wood on the dash, which is topped by Nappa leather. The expansive center display sits atop a high, curving transmission tunnel that houses the traditional knob-and-dial controller for the infotainment, as well as the shift lever and HVAC buttons. Hyundai stretched the G90's wheelbase by 4.5 inches over the old Equus, but in the process, it removed an inch of backseat legroom. Now there's only 37.8 inches in the second row, which doesn't compare favorably to the 42.9 inches in the back of the Audi A8L or the 43.1 inches offered in the Mercedes-Benz S-Class. Unlike the EQ900 that was shown early last month, the US-market G90 will only offer a pair of engines. On the one end, we have a 3.3-liter, twin-turbocharged V6, capable of 365 horsepower and 376 pound-feet of torque. The 5.0-liter V8 from the Equus will be offered too, and it still churns out 420 hp and 383 lb-ft of torque. But with peak twist from the V6 model available between 1,300 and 4,500 rpm and less than 60 horsepower difference between the two engines, it sounds like the smaller engine will be the one to have, especially if it proves significantly lighter (Hyundai hasn't published the G90's weight yet). Both engines are paired to eight-speed automatic transmissions and can be paired with Hyundai's H-TRAC all-wheel-drive system. Look for more on the new G90 from its Detroit debut. And in the meantime, head over to our December 9 report on the new flagship model for more on Peter Schreyer's design and the safety equipment.