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Hyundai will invest $35 billion in autonomy and emerging technologies

SEOUL — Hyundai Motor Group said it plans to invest $35 billion (41 trillion won) in mobility and other auto technologies by 2025, part of which will be directed to an ambitious effort to become more competitive in self-driving cars that has also received government backing. The plan, which Hyundai said encompasses autonomous, connected and electric cars as well as technology for ride-sharing, comes after the automaker and two of its affiliates announced an investment of $1.6 billion in a venture with U.S. self-driving tech firm Aptiv. South Korea's government is also onboard, unveiling more funding for autonomous vehicle technology with President Moon Jae-in declaring on Tuesday that he expected self-driving cars to account for half of new cars on the country's roads by 2030. "The self-driving market is a golden market to revitalize the economy and create new jobs," Moon said in a speech at Hyundai Motor's research center near Seoul. The government intends to spend 1.7 trillion won between 2021 and 2027 on self-driving technology. It expects Hyundai to launch level 4, or fully autonomous, cars for fleet customers in 2024 and for the general public by 2027, an industry ministry official told Reuters. But some experts question whether targets set by the government and the automotive group, which also includes Kia Motors, are realistic given the technological and cost challenges and the lack of home-grown technology. In a 45-page report on future automotive technology, the government acknowledged South Korea lags in some key areas necessary for self-driving cars such as artificial intelligence, sensors and logic chips. "Hyundai has to buy technology from someone else because it lacks software technology. Even though it has a lot of cash, this could become a financial burden if its earnings deteriorate," Esther Yim, an analyst at Samsung Securities, said. Other analysts noted that the prospects for self-driving cars are quite murky. General Motors' self-driving unit, Cruise, said in July it was delaying the commercial deployment of cars past its target of 2019 as tech firms and automakers acknowledge it will take more time and money than they had expected to make autonomous vehicles safe for unrestricted use on public roads. South Korea's government said it would prepare a regulatory and legal framework for autonomous cars and the safety questions they pose by 2024.

Senator calling for answers from Hyundai and Kia over MPG debacle

Hyundai and Kia have already gone public with plans to make good on the inflated fuel economy claims scandal that has rocked both companies in recent weeks. But one US senator, Jay Rockefeller (D-WV), is skeptical that the general public will see much good from the proposal, and he's looking for answers.
To recap: Hyundai/Kia have agreed to compensate owners of 900,000 affected vehicles for real versus previously claimed fuel mileage (as well as adding in a one- fifteen-percent premium), by way of pre-loaded debit cards. It has been speculated that this payout could crest $100 million by the time the Korean automakers are done writing checks.
Said Rockefeller to The Detroit News, "While I believe this is a positive step, I am concerned that many affected customers may not learn about the program or may find it burdensome to participate in the program." Rockefeller would reportedly like to see a monitoring system for the paybacks more clearly defined, with the goal being as many wronged car buyers as possible getting the recompense that they're due.

2015 Kia Sorento shows its new face in fashion-forward Paris

It seems like we've been catching glimpses of the 2015 Sorento for ages now, but Kia has finally revealed the European version of its revised crossover at the 2014 Paris Motor Show.
For the latest Sorento, Kia a few of the elements from the Cross GT concept and adapts them for the road. The production model has the brand's familiar mesh grille up front and headlights that wrap around the body with large foglights below. It features a modified version of the concept's swept-back stance that thankfully removes the awkwardness from the original design. Kia says that shaping the latest crossover was truly a global effort with input coming from Korea, Germany and the US.
For Europe, powertrains amount to a trio of four-cylinder engines with a 2.4-liter gasoline unit with 185 horsepower, a 2.0-liter diesel with 182 hp and 2.2-liter diesel with 197 hp. They're all available with a six-speed automatic, and a six-speed manual is offered on the petrol mill and 2.2-liter oil-burner.