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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 Tucson Fuel Cell gets massive 43% price cut in South Korea

Hyundai is soldiering on with its fuel-cell-powered Tucson, ordering an enormous cut in the zero-emission CUV's price in the company's home market. The 43-percent reduction, when combined with subsidies from the South Korean government, brings the cost of entry to a still-lofty $54,000, Ward's reports. While that's undeniably a lot of money, we need to explain just how wildly expensive the Tucson FCV was in the first place. Hyundai trimmed a total of $67,000 from the $144,000 starting price. Even with some very significant – and not unusual – subsidies, the fuel-cell model still cost $86,000. Considering where things started from, $54K seems like a relative bargain. Beyond South Korea, Hyundai is expected to announce some sort of price cut in Europe, where the Tucson is marketed as the ix35 FCV, but it's unclear at this point if the Euro model's price tag will get such a dramatic reduction. We haven't heard of any changes to the cost of the lease-only North American-market Tucson FCV, which is currently available in California for $499 per month with $2,999 down. Related Video: Featured Gallery 2015 Hyundai Tucson Fuel Cell View 29 Photos News Source: Ward's Auto Green Hyundai Alternative Fuels Crossover Hydrogen Cars hyundai tucson fcv hyundai ix35

Hyundai Veloster video lets us hear what's coming

A couple of weeks ago we rather enjoyed seeing the redesigned Hyundai Veloster in some jaunty camo, a look we'd actually enjoy having as an option to buy. And just yesterday we saw it nekkid in spy shots taken of a video shoot. Now Hyundai has released a video teaser to the new car, and what's interesting is not what we see — the car in the video is back in the multicolored camo again — but rather what we hear. Expect the Veloster Turbo to share the 201-horsepower turbocharged 1.6-liter inline-four and transmissions from the Elantra GT Sport. And we expect, or at least hope, that the hopped-up Veloster N will get the 271-horsepower turbocharged inline-four from the i30 N, a car we won't get in the States. So what are we hearing here? Hard to know. It's more likely Hollywood (or rather Seoul) special effects than the sound of the 1.6 turbo. And spy shots of the Veloster N have shown it wearing a wing, which doesn't seem to be the case with the teased car. Maybe the wing's an option or won't be offered in production. But the grille shape of the video car also does not seem to conform to what we've seen on the Nurburgring. And the Veloster N isn't expected to be offered right off the bat, anyway. Whatever it is, it sounds pretty good. It'd be nice to think this is how the car will be. View 6 Photos 2019 Hyundai Veloster Turbo View 5 Photos Image Credit: Hyundai Auto News Hyundai Hatchback Performance hyundai veloster n