2011 Hyundai Se on 2040-cars

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Hyundai will invest $35 billion in autonomy and emerging technologies

SEOUL — Hyundai Motor Group said it plans to invest $35 billion (41 trillion won) in mobility and other auto technologies by 2025, part of which will be directed to an ambitious effort to become more competitive in self-driving cars that has also received government backing. The plan, which Hyundai said encompasses autonomous, connected and electric cars as well as technology for ride-sharing, comes after the automaker and two of its affiliates announced an investment of $1.6 billion in a venture with U.S. self-driving tech firm Aptiv. South Korea's government is also onboard, unveiling more funding for autonomous vehicle technology with President Moon Jae-in declaring on Tuesday that he expected self-driving cars to account for half of new cars on the country's roads by 2030. "The self-driving market is a golden market to revitalize the economy and create new jobs," Moon said in a speech at Hyundai Motor's research center near Seoul. The government intends to spend 1.7 trillion won between 2021 and 2027 on self-driving technology. It expects Hyundai to launch level 4, or fully autonomous, cars for fleet customers in 2024 and for the general public by 2027, an industry ministry official told Reuters. But some experts question whether targets set by the government and the automotive group, which also includes Kia Motors, are realistic given the technological and cost challenges and the lack of home-grown technology. In a 45-page report on future automotive technology, the government acknowledged South Korea lags in some key areas necessary for self-driving cars such as artificial intelligence, sensors and logic chips. "Hyundai has to buy technology from someone else because it lacks software technology. Even though it has a lot of cash, this could become a financial burden if its earnings deteriorate," Esther Yim, an analyst at Samsung Securities, said. Other analysts noted that the prospects for self-driving cars are quite murky. General Motors' self-driving unit, Cruise, said in July it was delaying the commercial deployment of cars past its target of 2019 as tech firms and automakers acknowledge it will take more time and money than they had expected to make autonomous vehicles safe for unrestricted use on public roads. South Korea's government said it would prepare a regulatory and legal framework for autonomous cars and the safety questions they pose by 2024.

Hyundai admits 124-mile Ioniq EV is 'not enough'

The Hyundai all-electric Ioniq isn't even here yet, and the company is already admitting that it can't compete. That's one way to read a statement by Ahn Byung-ki, director of Hyundai's eco-vehicle performance group, who said recently that that 124-mile EV will be supplanted by a 200-plus-mile version in 2018. After all, in a world full of Bolt EVs, second-gen Leafs, and Tesla Model 3s, an electric car that goes 124 miles isn't going to wow the way it could. Despite the push Hyundai is making with the Ioniq – which will come with plug-in hybird, standard hybrid and full EV powertrains – Ahn told Automotive News that 124 miles is "not enough, and we have a plan to extend that to more than 200 by 2018." Ahn and Hyundai are working on more than just the Ioniq line-up. Aside from the hydrogen-powered Tucson Fuel Cell, the company has a totally new hydrogen-powered large-ish vehicle. We might see the first taste of that in the same year as the Ioniq EV gets its first range boost. In other words, everything's moving fast as the company works to introduce 26 green models through 2020. Related Video:

2015 Hyundai Genesis

Hyundai grabbed our attention with its first-generation Genesis. Now, with this second-gen model, the company's job is to keep it. The 2015 Genesis, known internally as "DH," wisely follows in the footsteps of its predecessor, a model that showed the automaker's naked ambition, putting it on the map of not just bargain hunters, but the upwardly mobile, too.
The outgoing Genesis proved Hyundai was capable of producing a premium car of superior quality, complete with a plush interior, handsome looks and a relatively sporty driving demeanor, all for the sort of cut-rate price the brand built its reputation on. The first Genesis worked wonders for expanding Hyundai's allure, opening it up to all kinds of new car shoppers who previously wouldn't have given its other models a second glance.