2012 Kia Sorento Lx on 2040-cars

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Hyundai outlines EV strategy as it struggles with cost of engine defects

SEOUL — South Korea's Hyundai Motor pledged to boost sales of electric vehicles to over half a million by 2025 as part of a bid to focus on new technologies and catch up with rivals, but some analysts saw the target as conservative and warned of the costs. The announcement by Hyundai, the world's fifth largest car maker along with affiliate Kia Motors, underscores the accelerating strategy shift under Euisun Chung, who became the motor group's executive vice chairman last year. Hyundai announced a $35 billion investment last week in mobility and other auto technologies by 2025, less than a month after unveiling a $1.6 billion deal to develop self-driving vehicle technologies with Aptiv. The firm said on Thursday it plans to launch 16 EV models by 2025 to boost sales of such vehicles 17-fold to 560,000 by that year. Still, that would be equivalent to just over 10% of its projected global sales this year. The projection compares with more bullish forecasts offered by its bigger rivals. Volkswagen AG expects to make 22 million EVs over the next decade, while General Motors aims to sell 1 million EVs annually by 2026. "That is not an ambitious target. If Hyundai fails to boost volumes fast enough, costs of electric cars will weigh on profitability," Lee Jae-il, an analyst at Eugene Securities & Investment. Hyundai said that the EV market would face intensifying competition and oversupply soon and automakers failing to meet toughening European emissions regulations will face heavy penalties and suffer a serious blow to their reputation. "EV supply is expected to surpass demand from the second half of next year," Ka Suk-hyun, vice president of Hyundai Motor, told an earnings conference call. Quality issues Hyundai's third-quarter net profit rose 59% to 427 billion won ($365 million), well below the average 684 billion profit estimate of analysts based on Refinitiv data, due to 600 billion won provisions it earmarked to address potential engine defects in the United States and South Korea. Quality issues have been a major drag in Hyundai's attempt to steer a recovery from six consecutive annual profit declines and constrained its financial firepower to invest in future technologies. It is still under investigation by U.S regulators and prosecutors over potential faulty engines in some models. Total retail sales fell 3% in the third quarter, as higher U.S.

Kia launching Uvo 2.0 in 2014 Sorento

Along with all the new model introductions hitting the stages of the LA Auto Show, automakers made plenty of announcements in regards to technology heading into the show. Chevrolet's MyLink will be adding Siri and Ford is reportedly preparing some more updates for its MyFord Touch and My Lincoln Touch, but now Kia has announced that it will be releasing the next version of its Uvo infotainment system in the 2014 Kia Sorento and later in other Kia models including the redesigned 2014 Forte.
Uvo is Kia's hands-free infotainment system, and now it will be adding a telematics "eServices" system including vehicle diagnostics, a parking location reminder for drivers and 911 Connect. Officially called Uvo eServices Infotainment System with Voice Command Navigation, this is essentially the "version 2.0" for Uvo, which came with voice recognition and hands-free control of mobile phones when it was introduced in 2010.
When the 2014 Sorento goes on sale, the new Uvo will only be compatible with iPhones, but Android phones are expected to work by the second quarter. Scroll down for Kia's press release on the updated Uvo system.

Dancer who portrays Kia hamster guilty of disability fraud

Tisk, tisk, dancing hamster. Kia's trio of anthropomorphic rodents may be down a member as the actor that portrays one of the dancing hamsters has been arrested on charges of disability fraud.
According to The Huffington Post, 27-year-old LeRoy Barnes accepted over $51,000 in disability payments following a workplace injury in 2010. While accepting the money, he's accused of performing under aliases, in addition to his costumed work for Kia.
"Fraudulently collecting disability benefits is not only illegal, it disrespects legitimately injured Californians who are unable to work," Insurance Commissioner Dave Jones said in a release obtained by HuffPo.