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Hyundai Motor plans 17 EVs, $16B investment by 2030

SEOUL — South Korea's Hyundai Motor Co said on Wednesday it planned to invest about 95.5 trillion won ($79.21 billion) through 2030, including about 19.4 trillion won ($16.10 billion) towards electric vehicle (EV) related businesses. It also said it plans to introduce 17 EVs in that timeframe, six from Genesis and 11 from the Hyundai brand. Hyundai announced that three of those EVs would be sedans, along with six SUVs, a light commercial vehicle and one new type of model. It will begin sales of the Ioniq 6 later this year, followed by the Ioniq 7 in 2024. Hyundai Motor, which together with affiliate Kia Corp is among the world's top 10 biggest automakers by sales, targets to achieve a 7% market share in the global EV market by 2030, with an annual sales target of 1.87 million vehicles, the automaker said during a virtual investor day. The Seoul-based automaker said it aimed to achieve an operating profit margin of 10% or higher in EV business by 2030. "Hyundai is successfully accelerating its transition to electrification and becoming a global leader in EVs despite a challenging business environment caused by the global chip shortage and ongoing pandemic," Hyundai Motor Chief Executive Officer Jaehoon Chang said. Analysts, however said Hyundai's $16 billion investment in EV business would not be considered an "aggressive" approach compared to its rivals, adding, the investment is easily dwarfed by bigger rivals including Toyota Motor Corp, which plans to invest 8 trillion yen ($69.43 billion) for electrification by 2030. "Hyundai is allocating about 20% of its 95.5 trillion won investment to EV related businesses, which includes building new plants, EV charging stations and strategic alliances with battery manufacturers and the investment amount for EV does not seem too surprising or aggressive," said Eugene Investment & Securities analyst Lee Jae-il. Chang said Hyundai was considering building new dedicated EV production plants without proving details of new factories, including locations and timeline. Analysts said Hyundai would be eying on building dedicated EV factories in the United States, as it considers that as its key EV market. Shares in Hyundai Motor closed down 2.6%, compared to the benchmark KOSPI's 0.2% gain. ($1 = 1,205.2600 won) ($1 = 115.2300 yen) (Reporting by Heekyong Yang and Joyce Lee; Editing by Clarence Fernandez and Rashmi Aich) Related video: This content is hosted by a third party.

Hyundai Veloster Turbo BTR Edition goes demonic at SEMA

Just a few days after Halloween, Blood Type Racing's custom Hyundai Veloster Turbo R-Spec is bringing a demonic look to the SEMA Show in Las Vegas on Nov. 3. This mean little hatchback sports some sinister carbon black paint with crimson accents all around, and a set of red projector headlights top off the devilish details. What's happening under the hood is pretty fiendish, too. The BTR Edition Veloster starts with Hyundai's 1.6-liter four-cylinder, but it's strengthened with parts like forged connecting rods and pistons. The company then adds a high-boost Garrett turbo and retuned ECU. The result is over 500 horsepower to go like a bat out of hell. Beyond the wicked black-and-red aesthetic, Blood Type Racing also fits a carbon-fiber wide body kit, complete with crimson canards at the front corners. Inside, the interior is replaced with a four-point roll cage and racing bucket. The driver can still enjoy some music thanks to a suite of Rockford Fosgate speakers. The Veloster BTR Edition joins a growing slate of custom Hyundais at SEMA this year. In addition to this hellacious hot hatch, there's also a 500-hp Genesis Coupe and a 700-horsepower Tucson. BLOOD TYPE RACING RETURNS TO SEMA, BRINGING ALONG A SINISTER VELOSTER TURBO FOUNTAIN VALLEY, Calif., Oct. 7, 2015 – Blood Type Racing Inc., the renowned Chicago-based tuner known for his extreme take on Korean vehicles, has revealed its Veloster Turbo R-Spec built for SEMA. The BTR Edition Veloster has an evil twist, designed to look as though it just switched over to the dark side. The car will be revealed at Hyundai's SEMA press conference on November 3 at 11:30 a.m. PT, in Las Vegas. The vehicle's evil appearance began with a "Carbon Black" paint job, accented with a red racing stripe running from the front splitter up onto the hood. A carbon fiber wide-body kit gives the car a muscular, more aggressive stance, and front-mounted aero canards, front splitter and a rear deck spoiler provide down force at speed. Red accents on the custom SSR three-piece wheels, along with red projector "demon eye" headlamps add a final demonic touch to the vehicle's exterior. Using the Veloster's 1.6-liter "Gamma" four-cylinder as a starting block, BTR added new cylinder sleeves, a high-boost turbocharger from Garrett, and custom connecting rods and pistons.

Hyundai going with AeroVironment for dealership PHEV chargers

Hyundai will partner with AeroVironment as the supplier for charging stations at dealers for the 2016 Sonata Plug-in Hybrid. The 240-volt chargers will be able to top up the PHEV in less than three hours. Customers can also order AeroVironment's home chargers directly from the automaker's showrooms. AeroVironment is a veteran to working with automakers on charging solutions and has experience partnering with Fiat, Ford, Nissan, and BMW. The company also installed a network of locations along the I-5 corridor in Oregon. Customers can already buy the Sonata PHEV in ten states, including California, for a starting price of $35,435 (after $835 destination but before any tax incentives). The sedan has a total output of 202 horsepower from its 2.0-liter four-cylinder and electric motor. The 9.8-kWh lithium-polymer battery offers 27 miles of electric range and an EPA-estimated 99 miles per gallon equivalent. Hyundai dealers might have more green cars on the lot to use these chargers in the coming years. The company reportedly has a project codenamed AE under development, and rumor indicates that hybrid, PHEV, and EV models could be on the way. Hyundai Motor America Picks AeroVironment to Provide Dealer Charging Stations for the All-new 2016 Sonata Plug-in Hybrid Model AeroVironment to provide reliable and easy-to-use EV charging stations in Hyundai dealerships Hyundai becomes the seventh major auto manufacturer to choose AeroVironment as its preferred dealer charging station provider Hyundai drivers have the option to purchase AeroVironment's portable TurboCord charging system or its wall-mounted EVSE-RS charging station SIMI VALLEY, Calif., Nov. 24, 2015 – Hyundai Motor America has selected AeroVironment, Inc. (NASDAQ:AVAV) as the preferred provider for charging system installation at its dealerships across North America for its all-new 2016 Hyundai Sonata Plug-in Hybrid. Hyundai is the seventh plug-in electric vehicle (EV) auto manufacturer to choose AeroVironment as one of its suppliers. The 2016 Sonata Plug-in Hybrid comes with a high-capacity lithium-polymer hybrid battery system that delivers an all-electric range of 27 miles before switching to hybrid mode. The Sonata Plug-in Hybrid also comes with a lifetime hybrid battery warranty. The AeroVironment 240-volt TurboCord and the EVSE-RS charging station can charge the Sonata Plug-in Hybrid in less than three hours versus the approximate nine hours needed using a standard 120-volt charging cable.