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Hyundai plans to catch up with other automakers, offer EVs

YONGIN, South Korea (Reuters) - South Korea's Hyundai Motor Co is developing its first dedicated architecture for electric vehicles, seeking to catch up with the likes of Tesla in the growing segment with multiple, long-range models. While the platform will not be completed soon, Hyundai Motor and affiliate Kia plan to roll out small electric sport utility vehicles (SUVs) based on an existing underpinning next year, said Lee Ki-sang, who leads Hyundai-Kia's green cars operations. Hyundai will launch an electric SUV, followed by a sibling model by Kia Motors next year, Lee said, citing strong demand for SUVs. The subcompact or compact models would have a range of more than 300 km (186 miles) per charge, and would be "more competitive" than rival offerings, Lee said. And Hyundai said in a statement on Thursday that it plans to launch a new luxury electric vehicle under its Genesis marque in 2021, after introducing a plug-in hybrid version of an unidentified Genesis model in 2019. The separate platform represents a major push into the battery electric-car segment for a firm which has long trumpeted rival fuel-cell vehicles, reflecting strong investor pressure to compete more vigorously in a market that has been stimulated by U.S.-based Tesla's longer-range models. And tough fuel-economy and emissions regulations in the United States, Europe and China are compelling automakers to push fuel-efficient cars even though low oil prices have undercut demand. Hyundai's electric-car platform would allow the automaker to install a battery pack in vehicle floors to accommodate more battery capacity and maximize cabin space, Lee said. "The electric-vehicle platform will require high up-front investments, but we are doing this to prepare for the future," he said at Hyundai-Kia's green car research center in the city of Yongin, outside Seoul. He did not reveal the cost. Lee, a senior vice-president at Hyundai Motor, was speaking during an interview on the eve of an auto show that kicked off in Seoul on Thursday. Analysts said Hyundai had no choice but to build separate electric-vehicle platforms to be relevant in the segment. "The separate platform may incur losses initially, but Hyundai will be left behind the market if they don't offer long-distance models, like 300 km, 500 km and 600 km," said Ko Tae-bong, an analyst at Hi Investment & Securities.

WTF China? Why copy the Kia Picanto for anything?

While we certainly don't condone it, we at least get why Chinese companies copy the work of global automakers. It's all about the prestige in the China, and when versions of expensive imports can be had from a cheaper, domestically built automaker, it's clear where the money will go. But of all the prestigious, luxurious, handsome, high-performance vehicles for a Chinese automaker to rip off, why in the name of Chairman Mao did they choose a Kia Picanto? For those not in the know, the Picanto is a tiny city car that'd slot in below the Rio, were it sold in the US market. It's a fine car for what it is, but hardly one that is so packed full of innovative, handsome styling that makes sense to copycat, even if it isn't actually sold in the People's Republic. But that's just what Yogomo has done, with the new 330 electric car. While the real McCoy is a proper car, complete with a range of gas engines, the electric 330 is what's known in China as a low-speed electric vehicle – despite its size, according to Car News China, it can't be used on highways and is not eligible for the PRC's green subsidies. While most copycat designs are pretty flagrant, they're easily discernible from the cars on which they're based. That's not the case with the Yogomo 330, though. The mirrors are different, sure, and the grille, while roughly the same shape, isn't as exact the trademark Kia grille. But beyond that, the design is virtually identical, and that's sure to ruffle the feathers of copyright lawyers in South Korea. Head over to CNC for a look at the Yogomo's copycatting efforts. Featured Gallery Yogomo 330 EV Related Gallery 2015 Kia Picanto News Source: Car News ChinaImage Credit: Kia Government/Legal Green Kia

8 fastest depreciating cars in America

Getting a new car is an amazing experience. The fresh new scent, the barely touched interior, the double digit miles on your odometer, and... the depreciation once it leaves the car dealers lot? Maybe not that last one. To save you from the hurt of a quickly depreciating new car, we collected 8 of the fastest depreciating cars in America. And here's a surprise, one of them is a Toyota. Learn more at Autoblog.com Cadillac Infiniti Jeep Kia Lincoln Toyota Autoblog Minute Videos Original Video jeep compass cadillac xts infiniti q50 camry q50