2023 Kia Sportage Ex on 2040-cars

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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.

Hyundai phone app adjusts EV performance settings

The latest automotive tech frontier is phone control. A few car companies have launched or are about to launch the ability to use your phone as your key, such as with the Tesla Model 3 and the just revealed 2020 Lincoln Corsair. Aside from being convenient, the technology offers the ability to save settings for different users. The latest application of the technology comes from Hyundai and Kia for electric cars, specifically letting users set performance parameters and bring them from car to car. The app allows the user to adjust several performance settings including amount of torque available, speed limits, throttle response, regenerative braking response, climate control energy use and acceleration aggressiveness. Basically, you can decide whether you want all-out speed, long-range, or a blend of the two. The more detailed settings are also nice compared to choosing between three or four pre-set blends of performance like on many cars. And of course parents would surely like the ability to limit speed and power for new drivers. What's perhaps more interesting are the ways settings can be brought along and shared. Hyundai suggests that when using a car-sharing program, drivers could have their settings uploaded to whatever car is being used so that you don't have to readjust things each time. People could also share their preferred combinations for others to use, possibly offering people less compromised combinations than they otherwise would have come up with. Hyundai could also offer recommended settings or tweaks to combinations to optimize efficiency or performance in certain conditions. It's all interesting stuff, especially for control freaks and tinkerers, and we'll see it in the near future. Hyundai and Kia say it will show up in future vehicles, though an exact date wasn't given.

2017 Kia Model Year Preview and Updates

Kia continues its growing market momentum on the strength of three all-new intros and/or updates, along with its selection as a top pick by Consumer Reports. Kia's Niro - pictured above - is an all-new hybrid, combining a fairly conventional crossover profile with front-wheel drive and up to 50 miles-per-gallon. Also of note: Later in the '17 calendar year most dealers will receive the all-new STINGER GT, first introduced at the '17 Detroit Auto Show. KIA CADENZA: Kia's upsized, upscale Cadenza presents a near-luxury ownership experience without the penalty of a near-luxury price point. Its new platform is stronger, lighter and more rigid, while the interior is dramatically upscale. Finally, the Cadenza boasts Kia's first application of an eight-speed automatic in a front-wheel drive powertrain. FORTE: Kia's sedan and hatchback enjoy freshened styling and a new, 2.0-liter base powertrain. There is also the optional availability of a whole suite of advanced driver assistance systems, including autonomous emergency braking, rear cross traffic alert, forward collision warning and Dynamic Bending Light, which allows your lights to follow the direction of your steering wheel. K900: Kia's large, rear-wheel-drive sedan is unchanged for 2017. NIRO: Kia's all-new hybrid crossover is an outlier in the hybrid segment, with the high hip point and generous greenhouse of a crossover and a projected EPA estimate of 50 miles per gallon (combined) efficiency. It is powered by a normally-aspirated 1.6-liter four and electric motor, delivering a total system horsepower of 139, and 195 pound-feet of torque. OPTIMA: Following a redesign in 2016, Kia's midsize entry enjoys package refinements, standard 18-inch wheels on SX trim, a new value package on the 1.6T and new colors. More significant is the addition of both an Optima Hybrid and Plug-in Hybrid. The Hybrid promises to be 10-percent more efficient, while the plug-in will offer an estimated electric-only range of 27 miles. RIO: New colors and a discontinued four door SX highlight the changes. SOUL: Kia's two-box box adds new alloy wheel designs, Blind Spot Detection and Rear Cross Traffic Alert on Plus and Excalibur trims. And news of two new colors pales when compared to the Soul Exclaim's new turbo powerplant, connected to a seven-speed DCT transmission. SOUL EV: UVO eco is now on EV and EV+, while all trims receive an upgraded fast charge and a second-generation Pedestrian Warning System.