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Kia builds one millionth vehicle in the US

Kia Motors Manufacturing Georgia, Inc. (KMMG), the plant that produces the Kia Sorento crossover and Optima sedan, celebrated today as a Snow White Pearl 2014 Sorento SXL rolled off the assembly line at the 2,259-acre site, marking the one-millionth Kia to be produced on US soil.
Located in West Point, Georgia, KMMG was Kia Motors America's first manufacturing plant in the US and represented an initial investment of $1 billion. The plant started producing the 2011 Sorento on November 16, 2009 and is responsible for the creation of 11,000 jobs in West Point and the surrounding region. Production of the Optima sedan, Kia's best-selling car in the US for the past 18 months, started at the factory in 2011, and, in 2012, the completion of a $100 million expansion upped annual vehicle production capacity to 360,000.
"Building one million vehicles in less than four years is a tremendous achievement and one that each one of our more than 3,000 team members can take great pride in," said Byung Mo Ahn, Group President and CEO for Kia Motors America and KMMG.

Kia shows Cee'd GT and Pro_cee'd GT ahead of Geneva debut

Kia has been releasing a lot of new models lately, showcasing improvements in both design and luxury, but a pair of introductions at the 2013 Geneva Motor Show could bring the automaker into the performance mindset. The five-door Kia Cee'd and three-door Pro_cee'd will be getting new GT trim levels that bring a little more horsepower and sportier styling to the compact hatchbacks.
For added power, the 1.6-liter direct-injected inline-four packs a new turbocharger that bumps engine output to 201 horsepower and 195 pound-feet of torque (an increase of 68 hp and 74 lb-ft), which is good enough to quicken the cars' 0-60 times to under eight seconds flat. Unfortunately, it doesn't appear that there are any suspension upgrades, but the cars do get a dual exhaust system and 18-inch alloy wheels. Red brake calipers and a unique front fascia finish off the exterior styling, while Recaro buckets and a "GT" embroidered steering wheel can be found inside.
Both the Cee'd GT and Pro_cee'd GT will be on sale by the end of this year, and although we don't expect to see these cars in the US, adding a GT model to the Rio or Forte doesn't seem like it wouldn't be that hard.

Hyundai spooks investors by paying $10B for new Gangnam HQ location

Doing things Gangnam style apparently costs a serious chunk of change, because Hyundai is reportedly paying roughly $10 billion for 19.6 acres (79,342 square meters) of land in the trendy district of Seoul, South Korea, to serve as the location for its new headquarters. That eye-popping number represents the highest amount ever paid for a plot of land in South Korea, according to Reuters. The hefty price tag reportedly scared investors enough for stock prices to sink dramatically.
Shareholders were apparently upset because the massive outlay could instead have been put back into the company for research and development or other improvements. Instead, the company reportedly bid triple the land's appraised value, says Reuters. The announcement caused Hyundai's stock price to plummet a massive 9 percent, and there were losses from Kia and the company's parts arm, as well. All told, the three of them lost nearly $8 billion in value from the falling share prices - almost enough to pay for the controversial land.
Hyundai currently has its headquarters on the outskirts of Seoul, but seems keen to move to the high-end Gangnam district to show off its rising status. It plans to build a new office complex, hotel, convention center and theme park on the site. According to an analyst speaking to Reuters, that could all cost an additional $6 billion to complete.