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Hyundai sticks to EV rollout plans, sees solid growth this year

SEOUL — Hyundai Motor said on Thursday it would not delay plans to roll out new electric vehicles and was upbeat about prospects for continued growth this year — a contrast to recent steps by rivals to cut back on EV output. Electric vehicle sales are growing strongly but not as much as carmakers had forecast, with demand hit by high interest rates. "We do not plan to dramatically reduce EV production or our line-up due to likely near-term hurdles as we believe EV sales will grow longer term," Seo Gang Hyun, an executive vice president at the South Korean automaker, told an earnings briefing for analysts. The Hyundai Motor Group, which encompasses the Hyundai, Kia and Genesis brands, said in April it plans to launch 31 EVs by 2030. This includes the launch of the Ioniq 7 SUV next year. Seo said Hyundai's EV sales next year could be slightly lower than previously expected, but the automaker had the production flexibility to boost output of gasoline engine cars if demand shifted that way and he did not expect a significant impact on overall sales. When asked about the impact on Hyundai Motor of the United Auto Workers (UAW) union reaching a tentative labour deal with Ford, Seo said the company expects the deal will have an impact on wage increases at its U.S. factories, but such costs could be covered as the automaker has been putting effort into reducing costs, such as in logistics. Hyundai Motor, which is not a member of the UAW, operates an assembly plant in Alabama and is building a factory to produce EVs in Georgia. For the third quarter, Hyundai booked a net profit of 3.2 trillion won ($2.4 billion), more than double its year-earlier result and beating an LSEG SmartEstimate of 2.9 trillion won, with the automaker helped by a favourable exchange rate. Sales also increased, climbing 8.7% to 41 trillion won on solid demand for high-margin gasoline SUVs. Sales of EVs and hybrids also grew, up by a third to 169,000 units. This month has seen a flurry of downbeat EV announcements. Citing flattening demand for EVs, GM said it would delay production by a year of Chevrolet Silverado and GMC Sierra electric pickup trucks at a plant in Michigan. Ford is temporarily cutting one of three shifts at the plant that builds its electric F-150 Lightning pickup truck. Tesla is also slowing plans for a Mexico factory, while GM and Honda announced on Wednesday that they were ending a $5 billion plan to develop lower-cost EVs together.

40+ cars that barely avoid the gas guzzler tax

The Gas Guzzler schedule, with mpg ratings and charges that haven't changed since 1991, lays out which fuel-swillers owe what to Uncle Sam.
I started thinking about the "Gas Guzzler Tax" - considerably less well known as The Energy Tax Act of 1978 - when I was driving Dodge's new Challenger SRT Hellcat last week. Unsurprisingly for a car that can burn 1.5 gallons of gas per minute at max tilt, theoretically able to empty a full tank of premium in about 13 minutes, the Hellcat will be subject to the Gas Guzzler Tax schedule when it goes on sale.

2019 Hyundai Ioniq gets new safety, infotainment tech

The Hyundai Ioniq lineup of electrified vehicles is being updated for 2019 with new safety technologies, more voice-recognition features and standard remote charge management for electric and plug-in hybrid models. Models equipped with navigation capabilities will get an enhanced, natural-language, server-based voice-recognition with a new point-of-interest search database that can suss out locations of charging stations. Driver attention alert and high-beam assist are new available features, along with automatic emergency braking with pedestrian detection, which is standard for the SEL trim along with lane-keep assist and adaptive cruise control. Hyundai says it's working with ChargePoint, which operates more than 32,000 electric-vehicle charging stations, to provide Ioniq owners with access cards and the ability to locate charging stations through the MyHyundai/Blue Link mobile app. Ioniq Electric and PHEV models come with Blue Link-, Google- or Alexa-enabled capability to manage and monitor charging schedules remotely to help take advantage of lower electricity prices during off-peak hours. Hyundai sells the Ioniq in Hybrid, Electric and Plug-In Hybrid variants. The Hybrid boasts an estimated 58 mpg rating from its 1.6-liter direct-injected engine, 32-kilowatt electric motor and 1.56 kWh lithium-ion polymer battery. The Electric boasts a 136 MPGe rating and 124-mile driving range from its 28.0 kWh lithium-ion polymer battery, while the Plug-In Hybrid uses a 1.6-liter direct-injected Atkinson-cycle four-cylinder mated to a six-speed dual-clutch transmission, a 44.5 kW electric motor and 8.9 kWh battery to offer 29 miles in electric-only driving range. Hyundai sold 11,197 Ioniq models in 2017, though it didn't start selling the sedans until late in the first quarter. The 2019 models arrive in dealerships this summer, though pricing hasn't yet been announced. Related Video: Featured Gallery 2019 Hyundai Ioniq Image Credit: Hyundai Green Hyundai Infotainment Hatchback Electric Hybrid PHEV safety features hyundai ioniq hyundai ioniq electric hyundai ioniq plug-in