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Kia decides on Mexico plant location for small car assembly

Mexico has long been a hot spot for auto manufacturing, but the country's fortunes have been boosted lately, with Honda, Mazda and Nissan recently adding factories there, and BMW is said to be poised to join them soon. Now, new reports indicate that Kia might start building south of the border to keep up with demand.
Insiders speaking to Reuters claim that the Korean automaker is very close to striking a deal to build a factory for two small models in Monterrey, Mexico, with a 300,000-vehicle annual capacity. Assembly could reportedly begin as soon as 21 months after ground is broken.
If true, Kia has done a fantastic job of keeping the deal under wraps. The only hint at anything like this brewing was a rumor last year that Hyundai may have investigation building a factory in Mexico. The company currently operates a factory in Georgia that builds the Optima and Sorento.

Watch the 2020 Technology of the Year presentation to Kia

CHICAGO — Kia's Blind Spot System won the 2020 Autoblog Technology of the Year Award. Watch the presentation at the 2020 Chicago Auto Show as Editor-in-Chief Greg Migliore hands the trophy to Kia Corporate Communications Director James Bell, followed by a Q&A of how the tech works. Autoblog editors judged the system, which combines blind spot monitoring and active crash avoidance features, as the best in our testing last fall. Kia beat out Mercedes E-Active Body Control, Subaru DriverFocus and Ram's MultiFunction tailgate. Every year, Autoblog editors test the latest technology features. Tech of the Year began in 2013, and Tesla, Lexus and Cadillac are among the previous winners. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.     Related Gallery 2020 Autoblog Technology of the Year Award Presentation Kia Technology Technology of the Year Truck SUV

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.