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Hyundai, Kia expanding plug-in vehicle line-up in Korea

Hyundai is shedding a bit of light on its electric vehicle plans. About time, too, since the company has spend a long period being quite vague about plugging in while touting its hydrogen plans. The Hyundai and Kia brands will both release their first plug-in hybrid vehicles next year in Korea; an all-electric version of the Kia Soul will roll out in May of this year and a mid-size electric vehicle will be launched as early as next year. Test versions of the Hyundai i10 electric vehicle have been on Korean roads since first being used at the G20 summit in Seoul in 2010. There have been hints about an electrified Hyundai coming to America, and at the Washington Auto Show last week, Michael O'Brien, vice president of corporate and product planning for Hyundai Motor America told AutoblogGreen that a new EV will be coming to the US market sometime within the next three years. A Hyundai executive told Korean national daily The Chosunilbo that the company will be significantly increasing its investment in hybrids and EVs to roll out a few eco-friendly models starting in 2015. It's hard to say which of these might come to the US market – a new LF Sonata will be coming out in both a regular gasoline and hybrid system in Korea; the US already has the Sonata Hybrid for sale. As for plug-in hybrids, Hyundai said that there will be both Sonata and Kia K5 (Optima) models coming out next year. These will also be the first-ever plug-in hybrids in the Korean market. Featured Gallery 2012 Hyundai Sonata Hybrid View 13 Photos News Source: The Chosunilbo Green Hyundai Kia Electric Hybrid Hydrogen Cars PHEV

Hyundai Motor reassigns 17 top execs to make way for fresh ideas

SEOUL — South Korean conglomerate Hyundai Motor Group shook up its executive ranks on Tuesday and appointed its first foreign head of research and development, raising expectations of a smooth transition of power at the family-run business empire. The reshuffle, first reported by Reuters on Tuesday and confirmed by Hyundai on Wednesday, is part of preparations for generational change in the executive ranks at South Korea's second-largest family-owned business empire. Group President Albert Biermann, a German former BMW executive, was named head of research and development, replacing longtime executives Yang Woong-chul and Kwon Moon-sik. The move was seen as a significant step to bring in fresh ideas at the Korean-dominated group. In all, 17 top executives were reassigned across the group including at Hyundai Motor Co and Kia Motors Corp — which together form the fifth-biggest automaker in the world. The move follows the promotion of Euisun Chung in September to Hyundai Motor's executive vice chairman, moving him closer to succeeding his 80-year-old father, Mong-Koo Chung, as group chairman. It comes as Hyundai Motor Co battles to reverse falling profits as a result of U.S. recall costs and weak sales in the U.S. and Chinese markets. Hyundai Motor Co shares jumped as much as 9 percent to their highest level since Oct. 10, while shares in affiliates like Hyundai Mobis, Hyundai Wia and Hyundai Glovis also rallied. While the announcement by Hyundai on Tuesday of a major investment in fuel cell production also lifted sentiment, analysts said most of the share price rise could be attributed to the leadership changes. In particular, it signaled that the junior Chung was making progress with his plans to restructure the sprawling group after a previous plan was scrapped due to opposition from U.S. hedge fund Elliott. "The reshuffle signals that the junior Chung is tightening his grip on the conglomerate, a move which raises investors' hopes for change," said Kim Joon-sung, an analyst at Meritz Securities. Ascendance of outsiders In a sign that Chairman Chung's grip may be weakening, one of his closest lieutenants, Hyundai Motor Co Vice Chairman Kim Yong-hwan, was reassigned away from the core automaker and named vice chairman of steelmaking affiliate Hyundai Steel.

Hyundai Recalling 883,000 Sonata Sedans

DETROIT (AP) - Hyundai is recalling its popular Sonata midsize sedan to fix problems with the gear shift levers. The recall covers 883,000 cars from the 2011 through 2014 model years. The Korean automaker says the automatic transmission shift cable can separate from the shift lever. If that happens, the lever may not show the correct gear, increasing the risk of a crash. Also, if the driver stops the car and puts the transmission in "park," the car may still be in gear and could roll away, injuring drivers, passengers or bystanders, Hyundai said in documents posted Wednesday by the U.S. National Highway Traffic Safety Administration. Other symptoms include an inability to start the car because it can't be shifted into park. Hyundai has received 1,171 warranty claims about the problem, plus seven other reports with related symptoms. The documents don't say if there have been any crashes or injuries. The Sonatas being recalled were made from Dec. 11, 2009 through May 29, 2014. The Sonata is Hyundai's second-best-selling car in the U.S. so far this year. First is the compact Elantra. Hyundai will notify owners by letter between now and the end of September. Dealers will inspect the shift cables and repair the connection if needed. Owners with questions can call Hyundai customer service at (800) 633-5151. Recalls Hyundai