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Hyundai Motor plans 17 EVs, $16B investment by 2030

SEOUL — South Korea's Hyundai Motor Co said on Wednesday it planned to invest about 95.5 trillion won ($79.21 billion) through 2030, including about 19.4 trillion won ($16.10 billion) towards electric vehicle (EV) related businesses. It also said it plans to introduce 17 EVs in that timeframe, six from Genesis and 11 from the Hyundai brand. Hyundai announced that three of those EVs would be sedans, along with six SUVs, a light commercial vehicle and one new type of model. It will begin sales of the Ioniq 6 later this year, followed by the Ioniq 7 in 2024. Hyundai Motor, which together with affiliate Kia Corp is among the world's top 10 biggest automakers by sales, targets to achieve a 7% market share in the global EV market by 2030, with an annual sales target of 1.87 million vehicles, the automaker said during a virtual investor day. The Seoul-based automaker said it aimed to achieve an operating profit margin of 10% or higher in EV business by 2030. "Hyundai is successfully accelerating its transition to electrification and becoming a global leader in EVs despite a challenging business environment caused by the global chip shortage and ongoing pandemic," Hyundai Motor Chief Executive Officer Jaehoon Chang said. Analysts, however said Hyundai's $16 billion investment in EV business would not be considered an "aggressive" approach compared to its rivals, adding, the investment is easily dwarfed by bigger rivals including Toyota Motor Corp, which plans to invest 8 trillion yen ($69.43 billion) for electrification by 2030. "Hyundai is allocating about 20% of its 95.5 trillion won investment to EV related businesses, which includes building new plants, EV charging stations and strategic alliances with battery manufacturers and the investment amount for EV does not seem too surprising or aggressive," said Eugene Investment & Securities analyst Lee Jae-il. Chang said Hyundai was considering building new dedicated EV production plants without proving details of new factories, including locations and timeline. Analysts said Hyundai would be eying on building dedicated EV factories in the United States, as it considers that as its key EV market. Shares in Hyundai Motor closed down 2.6%, compared to the benchmark KOSPI's 0.2% gain. ($1 = 1,205.2600 won) ($1 = 115.2300 yen) (Reporting by Heekyong Yang and Joyce Lee; Editing by Clarence Fernandez and Rashmi Aich) Related video: This content is hosted by a third party.

Autoblog Subcompact Crossover Comparison | Honda HR-V, Hyundai Kona, Jeep Renegade, Kia Soul

LAKE LEELANAU, Mich. — Consumers, and consequently automakers, are increasingly moving away from sedans and into crossovers as drivers seek more space and utility on roads heavily populated by larger and taller vehicles. While the various crossover segments are dominated by bigger, more expensive, family-oriented vehicles, those at the very bottom of the size and price ladder are a little different. The diverse selection of subcompact crossovers are targeting an equally diverse selection of buyers who need something sized to fit into their urban and suburban driving lives — not to mention their budgets. Some sort of active, outdoorsy lifestyle is almost always intended. Enough of these small crossovers have popped up that we thought it high time to pick some popular competitors — the Honda HR-V, Hyundai Kona, Jeep Renegade and Kia Soul — and pit them against one another in a four-way comparison test. We tried to spec them out as closely as we could in terms of price, with the Jeep standing out as the sole outlier with a price over $30,000. Following in the footsteps of our midsize pickup comparison test, we drove up to Michigan's pinky, where weÂ’d eat, sleep, and breathe these four crossovers to figure out which came out on top based on our 100-point ranking of objective and subjective metrics. Autoblog Subcompact Crossover Comparison View 36 Photos Certainly, there are more choices available than this four (a Subaru Crosstrek in particular was not available at the time of our test), but we think the HR-V, Kona, Renegade and Soul are a representatively diverse collection of popular choices. Without further ado, here are the results of our test, starting with fourth place. Related: Autoblog's Midsize Pickup Truck Comparison Test Fourth place: 2019 Honda HR-V AWD Touring – 72.2 points The Honda HR-V is the second oldest vehicle in this comparative set behind the Jeep Renegade. We first tested it in April 2015. More so than its Jeep counterpart, the Honda feels its age. ItÂ’s dated inside and out, the infotainment tech is in dire need of an update (yes, even though it was actually recently updated), and the CVT feels at least a generation behind most others currently available. And that powertrain is the biggest issue that held the HR-V back from a better score in our comparison. Of the four vehicles, it has the least power, which makes the CVT even more of a nuisance.

Chrysler and Hyundai join Pepsi and Coke as top Super Bowl spenders [w/ video]

Super Bowl XLVIII is barely a week away, and some of the early ads are already leaking out. It's timely then that The Street has released rankings of the top five Super Bowl advertisers since 2009, showing Chrysler and Hyundai/Kia taking two of the spots with $131.7 million in cumulative spending.
Since 2010, the cost to air a 30-second Super Bowl ad has risen from $3 million in 2009 to about $4 million in 2014, and about a fifth of advertisers opt for a one-minute ad, which doubles costs. Last year, the ads brought in $292 million, and they have brought in roughly $2 billion since 2010.
Chrysler has spent $64.3 million since 2009 to make it the fourth highest spending company in the last five years. In that time, the company has rebranded itself as it emerged from bankruptcy with the Imported from Detroit ad campaign that premiered in 2011 and last year's God Made a Farmer Ram Trucks ad. Its 2012 Halftime in America sparked national debate about whether it was also a reference to the upcoming presidential election.