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Hyundai will invest $35 billion in autonomy and emerging technologies

SEOUL — Hyundai Motor Group said it plans to invest $35 billion (41 trillion won) in mobility and other auto technologies by 2025, part of which will be directed to an ambitious effort to become more competitive in self-driving cars that has also received government backing. The plan, which Hyundai said encompasses autonomous, connected and electric cars as well as technology for ride-sharing, comes after the automaker and two of its affiliates announced an investment of $1.6 billion in a venture with U.S. self-driving tech firm Aptiv. South Korea's government is also onboard, unveiling more funding for autonomous vehicle technology with President Moon Jae-in declaring on Tuesday that he expected self-driving cars to account for half of new cars on the country's roads by 2030. "The self-driving market is a golden market to revitalize the economy and create new jobs," Moon said in a speech at Hyundai Motor's research center near Seoul. The government intends to spend 1.7 trillion won between 2021 and 2027 on self-driving technology. It expects Hyundai to launch level 4, or fully autonomous, cars for fleet customers in 2024 and for the general public by 2027, an industry ministry official told Reuters. But some experts question whether targets set by the government and the automotive group, which also includes Kia Motors, are realistic given the technological and cost challenges and the lack of home-grown technology. In a 45-page report on future automotive technology, the government acknowledged South Korea lags in some key areas necessary for self-driving cars such as artificial intelligence, sensors and logic chips. "Hyundai has to buy technology from someone else because it lacks software technology. Even though it has a lot of cash, this could become a financial burden if its earnings deteriorate," Esther Yim, an analyst at Samsung Securities, said. Other analysts noted that the prospects for self-driving cars are quite murky. General Motors' self-driving unit, Cruise, said in July it was delaying the commercial deployment of cars past its target of 2019 as tech firms and automakers acknowledge it will take more time and money than they had expected to make autonomous vehicles safe for unrestricted use on public roads. South Korea's government said it would prepare a regulatory and legal framework for autonomous cars and the safety questions they pose by 2024.

Hyundai And Kia Penalized $350 Million For Overstated MPG Claims

Nearly two years after Hyundai and Kia announced they exaggerated fuel economy numbers for several of their most popular models, the two Korean automakers have paid a heavy penalty for the transgressions. The Department of Justice and Environmental Protection Agency announced a settlement Monday that will cost the two car companies approximately $350 million. The financial sum includes a $100 million fine, the largest ever levied under the Clean Air Act, and about $200 million in forfeited greenhouse-gas emissions credits. At a time when car buyers rank fuel economy as a top concern when they head to dealerships and the federal government has mandated increased efficiency, Attorney General Eric Holder said the settlement should serve as a warning to automakers not to fudge their numbers. "This will send a strong message that cheating is not profitable," he said. The settlement ends a federal lawsuit filed against the automakers in U.S. District Court, but it's important to note that it doesn't end a class-action lawsuit filed on behalf of consumers. A preliminary settlement in that case, based in Los Angeles, was approved last month, but final approval isn't expected until July 2015. Officials with the EPA said the $100 million figure roughly equals the economic benefits the two companies received from exaggerating the mileage claims on the window stickers of new cars. Fuel-efficient boasts helped Hyundai and Kia establish a strong foothold in the U.S. marketplace. Advertisements for the Hyundai Elantra stated the vehicle achieved 40 miles per gallon in highway driving, and helped the car win the prestigious North American Car Of The Year honors at the Detroit Auto Show for its 2012 model. In July 2011, the advocacy group Consumer Watchdog began receiving complaints from consumers that the Elantra and other Hyundai models fell short of their stated mileage claims in real-world driving. The group wrote to the EPA and Hyundai, asking both to investigate. Government officials said Kia had overstated the mileage on its popular Kia Soul crossover by 6 miles per gallon, and more than a dozen overall models were affected. On Monday, EPA administrator Gina McCarthy said the violations were "egregious." Based on the exaggerations, the EPA calculated that Hyundai and Kia had underreported the greenhouse gas emissions of their fleets by about 4.75 metric tons over the estimated lifetime of the vehicles. That figure aided in the $200 million credit forfeiture.

Redesigned 2018 Hyundai Sonata Hybrid and PHEV revealed in Chicago

The refreshed 2018 Hyundai Sonata Hybrid and PHEV have been revealed at the 2018 Chicago Auto Show. While the updates are subtle, it's enough to breathe a little life into an underappreciated member of the Sonata clan. Like the rest of that clan, the fascias front and back have been redesigned. The grille in particular looks considerably more shapely and modern than the outgoing 2016 model's rather plain, Audi-aping unit. The fog light recesses are much more aggressive, better complimenting the headlights, which are new LED units. New wheel designs top off the exterior changes. It's all fairly handsome in toto. Inside, there's a new steering wheel, and behind that a revised instrument cluster. The infotainment system is upgraded with new nav overhead perspective features, and there's a Qi charging pad if you option the nav as well. Safety is a big part of this refresh: blind-spot warning, rear cross-traffic alert, and lane change assist are now standard. Automatic emergency braking and lane keep assist are also new options for these two cars. The gasoline-electric powertrains are unchanged. The Hybrid's 193-horsepower-combined electric and gas motor output remains the same. That includes a 2.0-liter gas engine, a 38-kW electric motor mounted in the transmission, and a 1.76-kWh battery pack in the trunk. The PHEV gets a bigger 9.8-kWh battery for up to 27 miles of electric range. With the larger 50-kW motor, the PHEV combined horsepower rating swells to 202. Like every other 2018 Sonata, however, the suspension and steering have been revised. The front roll bar has been stiffened, the steering assistance has been recalibrated, and the rear trailing arms have been fitted with new bushings. As we discovered in our 2018 Hyundai Sonata Sport quick spin review, these changes make a surprisingly significant difference in the way this midsize sedan drives. One would assume the improvements to the hybrid models' vehicle dynamics would be comparable. The PHEV will only be sent to dealers in certain states: California, Connecticut, Maine, Maryland, Massachusetts, New Jersey, New York, Oregon, Rhode Island and Vermont. If you want a PHEV in another state, your dealer can order one – so technically it's available in all 50 states, if you're patient. Hybrids are available now-ish, and PHEVs will be available in the second quarter of this year. Related Video: