2011 Gls 2.4l Auto Silver on 2040-cars

Auto blog

Hyundai spooks investors by paying $10B for new Gangnam HQ location

Doing things Gangnam style apparently costs a serious chunk of change, because Hyundai is reportedly paying roughly $10 billion for 19.6 acres (79,342 square meters) of land in the trendy district of Seoul, South Korea, to serve as the location for its new headquarters. That eye-popping number represents the highest amount ever paid for a plot of land in South Korea, according to Reuters. The hefty price tag reportedly scared investors enough for stock prices to sink dramatically.
Shareholders were apparently upset because the massive outlay could instead have been put back into the company for research and development or other improvements. Instead, the company reportedly bid triple the land's appraised value, says Reuters. The announcement caused Hyundai's stock price to plummet a massive 9 percent, and there were losses from Kia and the company's parts arm, as well. All told, the three of them lost nearly $8 billion in value from the falling share prices - almost enough to pay for the controversial land.
Hyundai currently has its headquarters on the outskirts of Seoul, but seems keen to move to the high-end Gangnam district to show off its rising status. It plans to build a new office complex, hotel, convention center and theme park on the site. According to an analyst speaking to Reuters, that could all cost an additional $6 billion to complete.

Hyundai expanding US plant capacity for SUV production

With cheap gasoline still driving CUV and SUV sales, three anonymous sources are reporting to Automotive News that Hyundai is looking to expand production at its Montgomery, AL factory with an eye towards production of high-riders. The Montgomery factory is currently responsible for Elantra and Sonata production, although as both sedans have faced slagging sales, Hyundai is seemingly taking a second look at its production priorities. "It's a new assembly line right next to the current Alabama line. State of Alabama is negotiating final terms," one of the sources told AN. The other two sources, meanwhile, indicated that while the company has been mulling expanded production in America, a final decision hadn't been made yet. As for what vehicle could join the Elantra and Sonata on a new line in Alabama, Korea Investment and Securities auto analyst Suh Sung-moon told AN the Santa Fe could move from its current home at the Kia facility in Georgia, although the Montgomery factory could also accommodate production of the compact Tucson (it's unclear if Suh was referencing the next-generation Tucson that debuted in Geneva or the current model) or even a pickup truck, were Hyundai to go such a route. Meanwhile, AN reports that Korea's Yonhap News Agency expects the Montgomery facility to be able to produce 300,000 vehicles, including an SUV, by 2017. While Hyundai declined Automotive News's inquiries, we have our ear to the ground for any official information from the South Korean marque.

Hyundai Ioniq model lineup shown ahead of Geneva debut

Hyundai released information on all three versions of the Ioniq ahead of their debut at the Geneva Motor Show next week. We've already taken a close look at the Toyota Prius-fighting hybrid model but now we have new information on the electric and plug-in hybrid variants. While the two hybrid models are nearly identical, the battery-electric Ioniq has an enclosed nose for better aerodynamics. The plug-in comes with an upgraded electric motor making 60 hp, compared to 43 in the hybrid. It uses the same 1.6-liter Atkinson-cycle four-cylinder, but Hyundai has to yet to divulge if the total system power in the plug-in is higher than the 139 horsepower figure for the hybrid. Using an 8.9 kWh battery, the plug-in is said to offer 31 miles of electric range. The larger, heavier Ford Fusion Energi plug-in uses as 7.6 kWh battery and is rated at 20 miles of electric range. On a loose estimate we'd guess the Ioniq plug-in will be rated around 25 miles of electric driving. As for the electric Ioniq, Hyundai is only giving us the numbers: 28 kWh battery, 118 horsepower, 103-mph top speed. Range is a quoted 155 miles, but again we're not sure what cycle that's on. The 110-hp, 30 kWh Nissan leaf manages 107 miles on the EPA sticker, so we expect similar (possibly lower) numbers from the Hyundai. We still don't know when any version of the Ioniq will go on sale in the United States, but with confirmation that the related Kia Niro is still 11 months away we don't expect the Hyundai to be in showrooms before the end of the year. View 7 Photos Green Geneva Motor Show Hyundai Electric Hybrid hyundai ioniq