2014 Hyundai Sonata Gls on 2040-cars

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Hyundai may be working on Theta III power for a mid-engine car

Hyundai's been showing off mid-engine concepts and flogging mid-engine prototypes for at least four years. The fanciful 2014 Passo Corto gave way to a Veloster Midship concept just a few months later, the following years bringing the RM15 N and RM16 N. The "RM" stands for Racing Midship, and spy photographers caught the RM16 N painting a new racing line at the Nurburgring. Korean outlet Motorgraph reports that Hyundai is currently developing its Theta III engine for release late this year or in 2019 in the next-generation Genesis G80, but the four-cylinder will be engineered to suit front-wheel drive, rear-wheel drive, and mid-engine applications. In the interests of more power, displacement in the Theta III will increase to 2.5 liters from the 2.0- and 2.4-liter displacements of the Theta II. Naturally aspirated and turbocharged versions are in development, both maintaining Hyundai's GDi direct injection. Front-wheel drive, turbocharged applications are predicted to output 280 horsepower, rear-wheel-drive turbo vehicles would get 300 horsepower. The turbocharged 2.0-liter Theta II in the current Sonata tops out at 245 hp, the same engine previously offered in the Santa Fe took that up to 264 hp. The mid-engine turbo Theta III would shrink to 2.3 liters, but rock a max output of 350 horsepower. That would put a mid-engine Veloster at the award-winning end of the competitive set, alongside the 350-hp Ford Focus RS and well in front of the 292-hp Volkswagen Golf R. Admittedly, it's early days for such talk, but with a motor in the middle and ex- BMW M boss Albert Biermann helming the chassis department, Hyundai might even aim for dynamic comparisons to the 350-hp Porsche 718 Cayman S. A potential super sporty offering from the N division needn't be a Veloster, either; that hatch might merely be an engine testbed. The Korean carmaker didn't poach two ex- Bentley, Bugatti, and Lamborghini designers so that it could think small. Related Video:

Hyundai reveals CEO's pay for first time ever

Thanks to some government pressure, Hyundai's billionaire chairman, Chung Mong Koo, has revealed just how much he gets paid each year. Honestly, the amount is a bit lower than we'd expect considering he helms such a huge industrial empire. The 76-year-old chairman brought home $13 million in 2013, $5.2 million of which came from Hyundai's automotive business while both Mobis and Hyundai Steel chipped in $3.94 million, each. For reference, Ford CEO Alan Mulally netted $23.2 million in 2013, although the vast majority of that money came from stock options.
The push for Chung to reveal his pay was part of a larger effort by the South Korean government called the Financial Investment Services and Capital Markets Act. The act forces several thousand companies to release info on annual pay, bonuses and severance for employees earning over $5 million won ($469,000), according to Bloomberg.
"With the disclosure of the executives' compensation, the pressure to deliver better profits will increase," said Heo Pil Seok, the CEO of Midas International Asset Management. It seems to be working, as Hyundai shareholders, of which Midas is one, have seen their shares increase by 6.1 percent in 2014, which includes a 1.2-percent jump as of yesterday, according to Bloomberg.

South Korea firms up fuel economy regs following Hyundai/Kia debacle

According to a report from Reuters, South Korea's government has drafted strict new rules for automakers to follow when calculating fuel economy. The legislation comes after a major snafu by Hyundai and Kia that resulted in the automakers lowering the estimated fuel mileage of many popular models - some by several miles per gallon, including the Soul subcompact above - and compensating owners in the US and Canada for the reduction.
The new fuel economy rules were announced by the Ministry of Trade, Industry and Energy in South Korea and will see average mileage ratings drop by roughly three to five percent, according to the report. In addition, manufacturers found guilty of overstating mileage figures will be liable for fines of up to $900,000.
These sweeping new regulations will go into effect in the second half of 2013 and, while they won't have any effect on EPA estimates for Hyundai and Kia vehicles in the United States, they are expected to result in new ratings for the two automakers in their home market of South Korea, where they enjoy a whopping 70-percent market share.