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Rimac will help Kia turn the Imagine concept into a high-performance flagship

The segment-bending Imagine concept Kia unveiled at the 2019 Geneva auto show will spawn a high-performance flagship in 2021. Rimac, which Kia and Hyundai jointly invested in, will help bring it to the market. "This car will have a significant effect on how consumers perceive Kia and its part in future electrification. We want it to demonstrate super-high performance levels but in a package that is different," affirmed Carlos Lahoz, the automaker's marketing chief, in an interview with British magazine Autocar. "Super-high performance" isn't a term we've ever used to describe a Kia, even the Stinger doesn't merit this label, so Lahoz's comments sketch an image of a model that breaks all ties with members of the company's current range. Croatia-based Rimac, an expert in making quick electric cars, will play a role in the development process. The extent of Rimac's involvement remains a mystery. Similarly, we don't know how Kia defines the term "super-high performance," and whether it alludes to straight-line speed, Tail of the Dragon-taming handling, or both. Like the Imagine concept (pictured), the production model will arrive as a sedan-crossover cocktail vaguely reminiscent of the short-lived Volvo S60 Cross Country, among other high-riding four-doors. Its front and rear ends will likely be toned down, but Kia stylists have been on a roll in recent years so we expect a head-turning design. As for the 21-screen infotainment system, which Kia labeled a "humorous riposte" to the industry's obsession with in-car displays, we're betting it won't make the leap from the show floor to the showroom floor.  The sheet metal will hide a new platform Kia is developing jointly with Hyundai specifically to underpin electric cars. Autoblog understands it will underpin future Genesis models, too. The architecture will be compatible with an 800-volt electrical system that charges the battery from 20% to 80% in 20 minutes, and Autocar reported the Imagine will offer up to 310 miles of driving range, though odds are that's on the optimistic WLTP testing cycle. Kia's announcement that the Imagine — a name the production version won't wear — will arrive in 2021 suggests it could land on our shores for the 2022 model year. The company hasn't revealed whether it will sell the model in the United States, however. Don't let the idea of a high-horsepower, quasi-luxury electric car from Kia fool you.

2020 Kia Soul pricing starts at $18,485

Pricing for the 2020 Kia Soul hatchback-crossover-thing has been revealed, and it's a bit more expensive than the old model. The base manual transmission-equipped LX starts at $18,485, which is exactly $1,000 more than the old base manual model. And for those curious, the manual transmission is only available on the LX. The price gap is a tad narrower with the CVT-equipped 2020 Soul, which is only $800 more than the previous one at $19,985. Both versions of the LX, and all trims except the GT-Line with the turbo engine, get a naturally aspirated 2.0-liter inline-four making 147 horsepower and 132 pound-feet of torque. Stepping up from the base LX trim are several new variants. First up is the S that costs $21,285 and adds standard keyless entry, cruise control, automatic emergency braking, lane-keep assist, alloy wheels and body-color door handles and mirrors. The non-turbocharged GT-Line starts at the same price, and it brings sportier bodywork, bigger 18-inch wheels, and leather-wrapped wheel and shift knob. On the other hand, safety features standard on the S, such as blind-spot warning and rear cross-traffic warning, become options on the GT-Line. X-line is next and is similar to the GT-Line, but comes with crossover-inspired plastic body cladding, faux skid plates and real roof rails. It costs more at $22,485, though, and it gets even fewer safety features still, losing the GT-Line's options as well as lane-keep assist and automatic emergency braking. Topping out the range of Souls with the 2.0-liter engine is the EX at $23,685. It comes with all the features of the S plus heated mirrors, heated seats, dual-zone automatic climate control, 10.25-inch infotainment screen, wireless phone charging, push-button start, and leather-wrapped wheel and shift knob. At the top of the range is the GT-Line with turbo engine, and it starts at a shocking $28,485. That's $4,500 more than the outgoing turbocharged Soul, and it's right in line with some pretty serious sporty hatchbacks such as the VW GTI ($28,490), Mini Cooper S ($26,750) and Hyundai Veloster N ($27,820). Compared with other Souls, the top-spec GT-Line gets a force-fed 1.6-liter inline-four making 201 horsepower and 195 pound-feet of torque. It's coupled to a seven-speed dual-clutch transmission, the only transmission option.

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.