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Hyundai Motor plans 17 EVs, $16B investment by 2030

SEOUL — South Korea's Hyundai Motor Co said on Wednesday it planned to invest about 95.5 trillion won ($79.21 billion) through 2030, including about 19.4 trillion won ($16.10 billion) towards electric vehicle (EV) related businesses. It also said it plans to introduce 17 EVs in that timeframe, six from Genesis and 11 from the Hyundai brand. Hyundai announced that three of those EVs would be sedans, along with six SUVs, a light commercial vehicle and one new type of model. It will begin sales of the Ioniq 6 later this year, followed by the Ioniq 7 in 2024. Hyundai Motor, which together with affiliate Kia Corp is among the world's top 10 biggest automakers by sales, targets to achieve a 7% market share in the global EV market by 2030, with an annual sales target of 1.87 million vehicles, the automaker said during a virtual investor day. The Seoul-based automaker said it aimed to achieve an operating profit margin of 10% or higher in EV business by 2030. "Hyundai is successfully accelerating its transition to electrification and becoming a global leader in EVs despite a challenging business environment caused by the global chip shortage and ongoing pandemic," Hyundai Motor Chief Executive Officer Jaehoon Chang said. Analysts, however said Hyundai's $16 billion investment in EV business would not be considered an "aggressive" approach compared to its rivals, adding, the investment is easily dwarfed by bigger rivals including Toyota Motor Corp, which plans to invest 8 trillion yen ($69.43 billion) for electrification by 2030. "Hyundai is allocating about 20% of its 95.5 trillion won investment to EV related businesses, which includes building new plants, EV charging stations and strategic alliances with battery manufacturers and the investment amount for EV does not seem too surprising or aggressive," said Eugene Investment & Securities analyst Lee Jae-il. Chang said Hyundai was considering building new dedicated EV production plants without proving details of new factories, including locations and timeline. Analysts said Hyundai would be eying on building dedicated EV factories in the United States, as it considers that as its key EV market. Shares in Hyundai Motor closed down 2.6%, compared to the benchmark KOSPI's 0.2% gain. ($1 = 1,205.2600 won) ($1 = 115.2300 yen) (Reporting by Heekyong Yang and Joyce Lee; Editing by Clarence Fernandez and Rashmi Aich) Related video: This content is hosted by a third party.

Recharge Wrap-up: "E-Mobility Thought to the End" project, Tesla owner tracks stolen car

A Tesla owner helped police track her stolen Model S and catch the thief. Katya Pinkowski of Vancouver, BC found her car missing after a concert, and she was able to track the car's movements with the Tesla app. She relayed the information to the police, who surrounded the car and arrested the driver. "High tech definitely played a helping role," in arresting the suspect, says Richmond RCMP spokesman Cpl. Dennis Hwang. In what appears to be the first Tesla theft in Canada, Pinkowski accidentally left an electronic fob in the car, giving the thief easy access. Read more from The Province. Hyundai has delivered a shipment of 50 ix35 (Tucson) Fuel Cells for distribution in Europe. Europe's largest ever shipment of the hydrogen-powered vehicles puts the count at over 250 of the ix35 Fuel Cells shipped to Europe so far. "This latest landmark delivery enhances our leading position in the roll-out of fuel cell vehicles in Europe," says Hyundai Europe COO Thomas Schmid. "With our fuel cell distribution network growing to 13 European countries, we are enhancing our sales and customer service capabilities, making fuel cell electric vehicles more accessible for customers throughout Europe." Read more in the press release from Hyundai. Daimler, The Mobility House, Getec and Remondis are partnering to connect the world's largest second use battery storage unit to the grid. As part of their "E-Mobility Thought To The End" project, retired EV batteries are being used in the 13-MWh storage unit to help stabilize the grid and help manage energy fluctuations from renewable sources. It serves as another step in the life of the battery before recycling, where the materials from the lithium-ion batteries re-enter the production process. This helps reduce the environmental impact and the costs of electromobility. Read more in the press release below. E-mobility thought to the end: World's largest 2nd-use battery storage unit set to connect to the grid • Cooperation between Daimler, The Mobility House, GETEC and REMONDIS completes the battery value creation cycle • Re-use of electric vehicle batteries improves environmental performance and the lifecycle costs of e-mobility • 13-megawatt battery storage unit to connect to the grid in early 2016 • Levelling out fluctuations in the power grid as an active contribution towards the energy revolution The world's largest 2nd-use battery storage unit will soon go into operation in the Westphalian town of Lunen.

We get our hands on Android Auto [w/video]

After a week with version one of Android Auto in a 2015 Hyundai Sonata, my opinion is that it fulfills the promise of the technology. I couldn't even exploit it fully because I'm not married to the Android ecosystem. At my desk right now there's a PC in front of me, an iPad on my left, and an Android phone on my right. My Android phone is, in fact, so old that it's not compatible with Android Auto. So in addition to a Sonata, Hyundai let me borrow a Nexus 5 smartphone and a Motorola Moto360 watch. Yet even with all that gear, which, in practical terms is someone else's borrowed digital life, Android Auto still showed itself to be tech worth having. When you start the Sonata you get the standard Hyundai infotainment screen. Plug your phone in, and you'll get an option to click over to Android Auto. At that point, you lose the ability to use your phone, which is the purpose of the system, to keep you from using the handset. Since the contents of your phone are ported to the head unit, there is hardly any reason to reach for the portable device anyway. The Google Now screen comes up first, populated with a series of notifications resulting from Google having learned your life and kept track of where you've been going, who you've been calling, and what you've been searching for. After only two days, Google Now understood that I probably lived in Venice, CA, and not in Orange County, where the phone had previously resided. No matter the make of car, the interface is the same. The icons along the bottom of the screen indicate Navigation, Phone, Home (Google Now), Audio, and Return – to go back to the car's native interface. The first four options represent much of what we use our phones for (we'll get to texting in a second), and that's what buyers want: for cars to work seamlessly with their phones. Oh, and to have voice recognition actually be useful. Android Auto works with the Hyundai system, so if music is playing when you turn the car on, it will continue to play even though you're in Android Auto, and you can control it through that interface. Switching to media or apps on your phone is as easy as saying, "Play music," which defaults to Google Play, or pressing the audio button and choosing an app like JoyRide or NPR One. You do have to figure out how to speak to the system. I couldn't find any list of Android Auto-specific voice commands, so sometimes it would take a few tries to figure out how Google liked to be ordered around.