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Kia introduces sleek Novo Concept at Seoul Motor Show

As you've no doubt noticed, we're deep, deep into coverage of the 2015 New York Auto Show. But despite the glitz and glamor of the Big Apple, our attention is also draw to Asia today, where Kia has introduced the handsome Novo Concept at the 2015 Seoul Motor Show. Powered by a 1.6-liter, turbocharged four-cylinder and with a seven-speed dual-clutch transmission shipping power to the front wheels, the Novo's powertrain is not unlike what we saw yesterday in the 2016 Optima. Of course, that's the extent of the technical details, as the Novo is far more of a design exercise than a tech demonstrator. Taking its name from the Latin for "to make new," the Novo was designed by Kia's team in Namyang, South Korea. Billed as a four-door coupe – as is the trend nowadays – the Novo rides on a version of the company's C-segment platform, giving some idea of its size. Kia's hallmark "tiger nose" grille is flanked by laser headlights, and is the most obvious tie-in to the brand's current design language, while other elements, like its fastback profile and pillar-less greenhouse are add some spice to the visuals. Those compact rear doors are hinged at the rear. Meanwhile, a vertical side grille, reminiscent of the early Jaguar XF, meets a strong shoulder line that extends from the headlights and terminates in the middle of the rear door. Kia has released a spate of images of the new car, which accompanies the company's design-oriented press release. Head down and take a look. Related Video: KIA NOVO FASTBACK CONCEPT PREMIERED AT SEOUL MOTOR SHOW Coupe style for Kia's latest concept Minimalist interior with high-tech features 1.6 litre turbo GDi engine and seven-speed DCT Delivering a bold and exciting, coupe style with a driver-focused cabin, Kia's latest concept car, the Novo, has been unveiled at the 2015 Seoul Motor Show. Giving clear hints at future Kia styling and strategy the Kia Novo is aimed at modern urbanites with stressful jobs and frantic schedules. Interpreted by Kia's designers, the name 'Novo' represents the concept of making something new and fresh. Taking its name from the Latin 'novatus' the Kia Novo concept establishes a calming, focused environment in which drivers can refresh and rejuvenate as they transition from one life commitment to the next. Fittingly, 'novatus' also provides the origin of the English word, 'innovation', which the Novo concept brings to life with thoroughly innovative styling and high-tech interior features.

Peter Schreyer designs the future of Hyundai, Kia, and Genesis

Peter Schreyer now leads the design teams at Hyundai, Kia, and the new Genesis brand. He has the difficult task of differentiating the three brands aesthetically, even if they share mechanical components. A new profile about the designer by Bloomberg shows just how much he means to the Korean brands, and it's well worth a read. According to Bloomberg, Schreyer has distinctive ideas for the Korean brands' design. A Kia should look sporty and appeal to young buyers. In contrast, a Hyundai would be for someone who prefers a minimalist design. So far, Genesis is blending those traits for its Athletic Elegance design language. Schreyer went to Kia from Volkswagen Group in 2006, and his mission was to revolutionize the Korean's brand's boring look. He succeeded with sharper, more modern designs for vehicles like the Optima and Sorento that arrived after he took over. He did such a good job there that Hyundai-Kia Motor Group appointed him as its first non-Korean president at the end of 2012. He also now oversees former Lamborghini designer Luc Donckerwolke at the Genesis luxury brand. Bloomberg speaks with industry analysts and other designers to get a better idea of Schreyer's meaning to the company. The piece presents him as an easygoing person who knows exactly how each vehicle should look. If you want to get a better Schreyer and his work at Hyundai, Kia, and Genesis, the story is worth checking out. Related Video:

Hyundai outlines EV strategy as it struggles with cost of engine defects

SEOUL — South Korea's Hyundai Motor pledged to boost sales of electric vehicles to over half a million by 2025 as part of a bid to focus on new technologies and catch up with rivals, but some analysts saw the target as conservative and warned of the costs. The announcement by Hyundai, the world's fifth largest car maker along with affiliate Kia Motors, underscores the accelerating strategy shift under Euisun Chung, who became the motor group's executive vice chairman last year. Hyundai announced a $35 billion investment last week in mobility and other auto technologies by 2025, less than a month after unveiling a $1.6 billion deal to develop self-driving vehicle technologies with Aptiv. The firm said on Thursday it plans to launch 16 EV models by 2025 to boost sales of such vehicles 17-fold to 560,000 by that year. Still, that would be equivalent to just over 10% of its projected global sales this year. The projection compares with more bullish forecasts offered by its bigger rivals. Volkswagen AG expects to make 22 million EVs over the next decade, while General Motors aims to sell 1 million EVs annually by 2026. "That is not an ambitious target. If Hyundai fails to boost volumes fast enough, costs of electric cars will weigh on profitability," Lee Jae-il, an analyst at Eugene Securities & Investment. Hyundai said that the EV market would face intensifying competition and oversupply soon and automakers failing to meet toughening European emissions regulations will face heavy penalties and suffer a serious blow to their reputation. "EV supply is expected to surpass demand from the second half of next year," Ka Suk-hyun, vice president of Hyundai Motor, told an earnings conference call. Quality issues Hyundai's third-quarter net profit rose 59% to 427 billion won ($365 million), well below the average 684 billion profit estimate of analysts based on Refinitiv data, due to 600 billion won provisions it earmarked to address potential engine defects in the United States and South Korea. Quality issues have been a major drag in Hyundai's attempt to steer a recovery from six consecutive annual profit declines and constrained its financial firepower to invest in future technologies. It is still under investigation by U.S regulators and prosecutors over potential faulty engines in some models. Total retail sales fell 3% in the third quarter, as higher U.S.