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Kia EV9 wins 2024 World Car of the Year and World Electric Car at New York Auto Show

The Hyundai Group refuses to release its kung-fu grip on winning prestigious vehicle awards, especially those for electric vehicles. In 2020, Kia took the overall World Car of the Year (WCOTY) title with the Telluride, won World Performance Car with the EV6 GT, and won the World Urban Car category with the Kia Soul EV. In 2021, after the Hyundai Group walked away with nothing but a free lunch, the Hyundai Ioniq 5 won the 2022 World Car of the Year laurels, plus World Electric Vehicle and World Car Design of the Year, followed in 2023 by the Hyundai Ioniq 6 winning the same three awards. Kia returns to the top step today, the new EV9 announced at the New York Auto Show as the 2024 World Car of the Year and World Electric Vehicle. Because the South Koreans like to do this in threes, the Hyundai Ioniq 5 N won World Performance Car.  One hundred automotive scribes from 29 countries tested 38 vehicles for the main prize. The qualifications for entry are that a car must exceed 10,000 units in production annually, be on sale in at least two major global markets, and be priced below the luxury options in their respective regions. The EV9 beat the BYD Seal and the Volvo EX30 to the WCOTY title. Thirty-two cars vied for honors in the electric category, the EV9 outdoing the BMW i5 and the Volvo EX30. The German and the Swede aren't leaving New York with nothing, however, as the BMW 5 Series and i5 won the World Luxury Car title, and the EX30 won the World Urban Car trophy.  The Hyundai Ioniq 5 N outdid 16 other performance cars. We're sure there are engineers in Germany looking hard into their beer right now, the Ioniq 5 N pipping the M2 and XM to the victory circle.  The surprise of the bunch is the inclusion of the Toyota Prius, the global hybrid icon thrashing 70 other entries to win the 2024 World Car Design of the Year award. The other two finalists? The Ford Bronco and the Ferrari Purosangue. Ladies and gentlemen, give it up for the Prius. 

Next-generation Kia Optima spied for the first time

On the heels of the completely redesigned Hyundai Sonata, one of our spy photographers has finally caught the next-generation 2021 Kia Optima out testing. It makes sense the family sedan would appear soon, since it will undoubtedly be based on the Sonata just like past Optimas. Unlike the Sonata, though, the new Optima looks like a very evolutionary design. The headlights are still wide and low in the nose. The "tiger nose" grille sits between the lights. It looks as though the grille may be a bit thinner than on the current model. The overall profile is still similar to the current model and the Kia Stinger, and it appears Kia will continue to have some interesting lines connecting the rear pillars and the roof. Among the subtle differences are a revised greenhouse. The pieces of glass just ahead of the C-pillars follow the curve of the roof more than the somewhat upright pieces on the current car. The rear taillights, though still thin and wide, now appear to protrude from the rear. This particular version also appears to have fake tail pipes. Though this is the first time we've seen the Optima, and it's still well-camouflaged, we expect to see the car revealed sometime next year. The reason is that the Sonata it's based on is nearly on sale, so a lot of the Optima's development is probably finished. It will likely share the Sonata's powertrains, which for now include a 191-horsepower naturally aspirated 2.5-liter 4-cylinder and a 180-horsepower turbocharged 1.6-liter 4-cylinder. Each of these is mated to an eight-speed automatic. A more powerful turbo four-cylinder should be available in the near future.

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.