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Hyundai, Kia announce buyback plan for angry Korean investors

Hyundai's controversial decision last September to move its Korean headquarters to an expansive (and expensive) new facility was met with a swift backlash by shareholders. After making the biggest land purchase in South Korean history, the company's share price took a nine-point nose dive.
Now, in a bid to get back in the good graces of its stockholders, Hyundai and its subsidiary, Kia, will make a $615-million stock buyback plan. Reuters claims this is the first time in ten years that Hyundai has made a buyback offer with the explicit purpose of pumping up share prices.
The total deal bumped up Hyundai's share prices 5.7 percent while Kia is up two percent, although neither company has fully recovered from the battering that followed the headquarters announcement. It's unclear what else it will take for Hyundai to recover the ground it lost during the land deal.

Kia Soul EV fitted with wireless charging

As the industry continues to build out electric vehicle charging infrastructure, parallel projects are working to improve it as quickly as it's deployed. Now we're seeing some groups launching fast charging stations capable of 350-kW, and more. Meanwhile, wireless charging is making advances, which would allow drivers to simply park and charge without fussing with a cable. Kia is the latest to test inductive charging, and has announced that it has deployed a fleet of Soul EVs capable of recharging wirelessly. The three-year project — a partnership between the Hyundai-Kia America Technical Center, wireless charging company Mojo Mobility and the U.S. Department of Energy's Office of Energy Efficiency and Renewable Energy (EERE) — culminated in the system being equipped to five vehicles and tested in real-world environments. The system uses electromagnetic fields transmitted between a transmitter coil on the ground and a receiver on the bottom of the car to transfer energy. It can charge at over 10 kW, with 85 percent grid-to-vehicle efficiency. Kia adds that because the system is so efficient, it can still charge even if there is some misalignment between the two coils. That means an imperfect parking job doesn't mean the car won't charge. Other automakers are also testing wireless charging, and BMW plans to offer it on a limited basis in the U.S. for its 530e plug-in hybrid. Kia is not making any promises to customers yet, though. "There is no current plan to offer the wireless charging system on production vehicles for sale to consumers," Kia stated in its press release, "however, the success of this development project suggests similar systems are possible on future Kia electric vehicles." Wireless charging could play well with other technology for Kia. For instance, it would be a boon for autonomous efforts, which the Korean automaker has begun undertaking with the testing of self-driving Soul EVs in Nevada. Wireless charging means an autonomous Kia could not only drive and park itself, but also take care of its own charging duties. Related Video: Related Gallery Kia Soul EV Autonomous Testing in Nevada News Source: Kia Green Kia Technology Emerging Technologies Hatchback Electric doe wireless charging inductive charging eere

Kia Cadenza preparing new look for 2016

It may have only been on the North American market for a few short years, but the Kia Cadenza is a fairly old warhorse, having hit global markets back in 2010. Considering that, it seems aptly timed for Kia to be testing a redesign of its second largest sedan. Our spies expect the new Cadenza to arrive in 2016 pioneering a new design language for the South Korean brand, which will also be featured on the new Optima. Based on the Kia Sportspace that's making its auto show debut at tomorrow's 2015 Geneva Motor Show, we should expect something more aggressive than the relatively benign sheetmetal of the current Cadenza. That said, it's difficult to pick out the Sportspace-inspired details in the attached spy photos. Kia's designers look to have retained the basic greenhouse shape of the current car, although the styling from the firewall forward and from the C-pillar back is too heavily camouflaged to really pick out anything more than the new headlights, quad foglights, the un-Sportspace-like grille and taillights. Check out our gallery of spy photos, and let us know what you think. Related Video: