2014 Kia Sorento Lx on 2040-cars

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Hyundai shutters engine development in shift to electric and hydrogen vehicles

Hyundai is quickly pivoting into an era of electric vehicles. Shortly after announcing it would halve the number of internal combustion models, it launched its first EV on its dedicated Electric Global Modular Platform (E-GMP), the supremely enjoyable Ioniq 5. Now, as The Korea Economic Daily reports, Hyundai Motor Group, which includes sister brand Kia and luxury brand Genesis, has closed its engine development division at its research and development center in South Korea to put those resources into electric powertrain development. According to the report, researchers from engine design are moving to its electrification design center, but a few remain behind to continue to refine existing internal combustion engines. The powertrain system development center will become an electrification test center, and the performance division will focus on electric performance. The group has also established a battery development center, and the R&D Center will also focus on raw materials for batteries and semiconductors. In an email, R&D boss Park Chung-Kook told employees, “Now, it is inevitable to convert into electrification. Our own engine development is a great achievement, but we must change the system to create future innovation based on the great asset from the past.” Hyundai Motor Group is targeting one million EVs a year by 2025, and full electrification by the year 2040. In addition to the newly launched Ioniq 5, Hyundai is planning to launch the Ioniq 6 EV, based on the stunning Prophecy concept, in 2022, and weÂ’ve already seen spy shots of that prototype in testing. That will be followed by the full-size Ioniq 7 SUV in 2024, which was recently previewed by the Seven Concept at the 2021 L.A. Auto Show. Kia is set to launch the EV6 in 2022, and Genesis recently revealed the GV60 electric crossover, both of which will use HyundaiÂ’s E-GMP architecture. Genesis also recently revealed an electric version of the GV70 crossover in China. Of course, Hyundai is also invested in hydrogen fuel cell vehicles, both commercial vehicles like its Xcient trucks, and passenger cars like the Nexo and the recently revealed Vision FK concept. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

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.

Predictable is good | 2017 Kia Sorento Quick Spin

It's been a while since we've tested the latest Kia Sorento, and we've never reviewed the V6 model. That's a shame. It's comfortable, drives well, and offers a lot of features. It's one of Kia's best-sellers, though sales have slipped as competitors roll out fresher models. Still, with consumers flocking to crossovers, the Sorento remains a critical vehicle for Kia. We spent a couple of days running around metro Detroit in the top trim SXL V6 model, which starts at $46,595. With optional Snow White Pearl paint ($395) our tester comes in at $46,990. It's loaded, with the 3.3-liter V6, all-wheel drive, 19-inch chrome alloy wheels, HID headlights, and LED fog and taillights. The interior has heated and vented seats, a heated leather steering wheel, Kia's UVO infotainment, satellite radio, and Infinity surround sound audio. Safety features include an auto emergency braking system, lane departure warning, surround view monitor, and rear traffic alert. Put simply, it's a really nice crossover. Here's our impressions. We were immediately impressed with the V6, which pumps out 290 horsepower and 252 pound-feet of torque. It offers strong, even acceleration. We took off from a stoplight, revved to 6,000 rpm, and shot past a line of traffic cued up to the left. The Sorento feels a little bit like a sleeper. It's strong on the expressway. We had no trouble merging or maneuvering through plodding traffic. Reaching cruising speeds of 75 or 80 miles per hour isn't a chore. We occasionally floored it to stretch things out and weren't disappointed. Response is very acceptable for this segment. We noticed the sound of the V6 is basic, and not sporty. Just six cylinders doing their thing. Teamed with a six-speed automatic transmission, the V6 was refreshing. So many crossovers come with turbo and/or naturally-aspirated four-cylinders (the Sorento offers both). But a competent engine moving us forward in a linear fashion is kind of nice. Traditional even. Yes, the industry is moving toward downsized displacement, and that's a smart tactic. But a turbocharged engine — they all have some degree of lag — is a strange dynamic for some consumers. Add in a dual-clutch or an eight- or nine-speed gearbox, and everyday vehicles can start to feel weird. Accelerate quickly in a turbo crossover with a non-enthusiast and they're not going to like it. The point: the traditional powertrain in the Sorento delivers. Once we're cruising, we noticed a little bit of road and wind noise.