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Hyundai to buy electric vehicle batteries from SK Innovation, according to report

SEOUL — Hyundai Motor and affiliate Kia Motors have decided to secure electric vehicle batteries from SK Innovation for the next four to five years, Maeil Business Newspaper said on Friday, citing industry sources. The sources said the deal was worth more than 10 trillion won ($8.6 billion). SK Innovation, Hyundai Motor and Kia declined to comment. Hyundai Motor said in October it would launch 16 EV models by 2025, aiming to boost EV sales 560,000 by then, a level that would be equivalent to more than 10% of its projected global sales this year. Reporting by Hyunjoo Jin. Related Video:    

The 2018 Hyundai Azera looks pretty classy

With the reveal of the new Azera, Hyundai has made it clear that it has no plans to leave the large, upscale sedan market. This South Korean Avalon-fighter underwent a significant redesign inside and out and will first go on sale in Korea next month. Outside, the Azera has a significantly different and more formal, profile. While the previous model was rakish and wedgy, the new model adopts an upright version of Hyundai's new corporate grille, along with a long hood and more vertical windshield. The flanks also receive long, flowing character lines that give it a muscular appearance. At the back, the Azera gets a new version of the full width taillights that the model has had since the nameplate's introduction two generations ago. The Azera also changes radically inside. Instead of the downward flowing dash of the old model, the new interior features an instrument panel that emphasizes width, with a dark top portion and lighter lower section. Sandwiched between the two halves of the dash is a section that rises up at the center stack to house the large touch screen and an analog clock, which looks a bit out of place. Hyundai has yet to reveal any stats, pricing or availability for the new Azera, except for its aforementioned launch date in South Korea, where it will carry the Grandeur name. However, we would imagine more details will be coming soon ahead of its US launch. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2018 Hyundai Azera Image Credit: Hyundai Design/Style Hyundai Sedan hyundai azera

Hyundai sales tank due to weak sales in China, Russia

Hyundai Motor's global volume dipped 13 percent in January to 338,035 deliveries. The drop is the automaker's first worldwide decline since July 2015, according to Bloomberg. The current slump of the once-booming Chinese market is especially hurting Hyundai's global volume, and a downturn in Russia also isn't helping the company's situation. Sales are down 1.1 percent in South Korea and 14 percent outside of the automaker's home market, according to Bloomberg. Hyundai expects the difficult situation to last much of the year. While Hyundai had a hard month internationally, the automaker's US division just reported its best January volume ever. The company delivered 45,011 vehicles, which was up one percent over 2015. The strong performance came in part from a 72-percent jump in Tucson volume and a 55-percent improvement for the Veloster. The company forecasts a strong year here in the States thanks to the introduction of the 2017 Elantra and an upcoming refresh for the Santa Fe. Hyundai already has a plan to build strength in the US and rebound elsewhere. For example, the company wants to capitalize on American's hunger for utility vehicles by adding capacity to build more of the Santa Fe Sport. It also intends to launch a B-segment CUV to challenge models like the Jeep Renegade, and the Genesis luxury sub-brand would eventually get an SUV, too. A cost-cutting strategy should help offset the downturn outside of this market. Related Video: