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2018 Kia Niro Plug-in Hybrid revealed, boasts 26 miles of electric range

The 2018 Kia Niro Plug-in Hybrid was introduced Thursday at the 2017 Los Angeles Auto Show, adding a considerably larger battery pack to the existing Niro Hybrid crossover. With an estimated 26 miles of all-electric range, the Niro Plug-in is in the same ballpark as most other plug-in hybrid models like the Toyota Prius Prime (25 miles), Hyundai Ioniq Plug-in (29 miles) and Kia's own Optima Plug-in (29 miles). The Chevrolet Volt is the king of the castle at 53 miles. When the all-electric range is exhausted, it'll get 48 mpg city, 44 mpg highway and 46 mpg combined. That's actually a bit worse than the regular Niro (51 city/46 highway/49 combined), though that difference isn't as great it might seem given actual gas burned and the all-electric range. The estimated mile-per-gallon-equivalent rating is 105 MPGe. That's actually about the same as the Volt (106) and Optima (103), but less than the Prius Prime (133) and Ioniq (119). This is all achieved by the addition of a 8.9-kWh lithium-polymer battery pack and a 60-horsepower (44.5-kw) electric motor. This compares to the regular Niro Hybrid's 1.56-kWh battery pack and 43-hp motor. Despite its greater capacity, the battery doesn't take up any extra interior space, still fitting under the back seat and cargo area. It can be recharged in approximately 2.5 hours using a 240V charger, or in less than 9 hours using a regular household 120V outlet. Besides the powertrain, the Niro Plug-in is essentially the same beyond a few minor styling updates. There is a slightly different "grille" insert and some blue trim accents. It can also be equipped with LED headlamps. Related Video:

Hyundai, Kia looking to cut costs

Hyundai and Kia are off to roaring starts in the United States this year, underscored by Kia's best sales month ever in May. But globally the situation for the South Korean siblings hasn't been nearly so positive. Recently, they reported their fourth consecutive quarter of decreasing operating profits worldwide, and now they're "making efforts to cut costs," according to a statement in a joint email obtained by Bloomberg. However, the companies aren't detailing where they would make the cuts or how much they want to save. The amount could be significant, though. An unnamed Hyundai senior executive reportedly told a South Korean newspaper that the business might be aiming for up to 30 percent in reductions. According to Bloomberg, Hyundai and Kia are facing falling total sales worldwide. Making the situation worse is that the strong Korean won versus the weaker Japanese yen gives competitors an advantage. The automakers also angered investors enough last year to prompt a stock buyback after paying $10 billion for the land for a future headquarters. The prognosis doesn't look utterly dire, though, and new products are on the way. For example, the Hyundai Santa Fe is being refreshed in South Korea, and the next-gen Elantra debuts at this year's Los Angeles Auto Show. There's also the Creta on the way for foreign markets. Additionally, several models are still awaiting the green light, including a Hyundai Genesis-based luxury crossover, a compact CUV, and the Santa Cruz unibody pickup. Meanwhile, the Kia GT is reportedly close to production, too. Related Video:

Hyundai finally settles inflated fuel economy claims lawsuit for $41.2 million

Remember when Hyundai and Kia changed their claimed fuel economy numbers for a bunch of models? That happened back in 2012, and Hyundai has finally settled a lawsuit concerning the economy adjustment with a payment of $41.2 million. The lawsuit was filed by 33 state attorneys general, as well as one from Washington D.C. Each state will decide how to use its money from the settlement. According to Hyundai, this settlement was an "amicable agreement," and the company also denies any wrongdoing in changing claimed fuel economy numbers. Hyundai also reports that the agreement was reached, in part, due to the reimbursement program instituted after the economy adjustment. This program allows owners to be reimbursed the extra fuel cost, with payments determined by miles driven. The payments are sent after an owner has an affected car's odometer checked by a dealer. In addition, Hyundai also offered lump-sum payments as an option after the results of a class-action lawsuit. So far, the company reports about 75 percent of eligible owners have participated in the program. This isn't the only major payment Hyundai has made concerning the fuel economy issue. In 2014, Hyundai paid roughly $300 million in fines to the EPA. The company was also sued for inflated fuel economy claims in South Korea. In the US, models affected by the adjustment include the Hyundai Santa Fe, Accent, Veloster, Sonata Hybrid, Tucson, Genesis and Azera, along with the Kia Soul, Rio, Sorento, Sportage and Optima. Related Video: Image Credit: Patrick T. Fallon/Bloomberg via Getty Images Government/Legal Green Hyundai Kia