2012 Hyundai Tucson Limited on 2040-cars

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Hyundai Group invests $90 million in Rimac to develop electric halo cars

The Hyundai Group is the next large automaker to make pilgrimage to Croatia, all for the purpose of investing 80 million euros ($90 million) in Rimac. Hyundai has chipped in 64 million euros ($72 million), while Kia added 16 million euros ($18 million). The tie-up puts a much faster spin on the South Korean automaker's electrification goals, with current plans to get 44 "eco-friendly models" on sale by 2025. Developing products with Rimac means working up two proper halo models to lead the charge. The press release stated Hyundai's intent to "to lead the high-performance electrified vehicle market and enhance its status as a game changer in Clean Mobility." According to Thomas Schemera, EVP of the group's product division, "Our goal is to popularize electric vehicles and to create social value through world-class technology and innovation in performance." The Hyundai Kona Electric, Ioniq and Nexo, and the Kia Soul EV and Niro EV have all won praise, but won't be enough in their current forms to garner the attention Hyundai and Kia desire. We'll see first fruits as soon as next year. Two high-performance electric prototypes are expected to debut, one being a battery-electric vehicle, the other a hydrogen fuel cell EV. The battery-powered offering will be a zero-emission version of Hyundai's mid-engined sports car for the N division. This has been in the works for seven years now, with three concepts put on show starting with the Veloster Midship in 2014. The RM15 followed a year later, the RM16 N (pictured) a year after that. The automaker didn't indicate what the FCEV would be. The aim, however, is to bring both to marker "at a later time." On Rimac's side, the investment helps the small Croatian on its quest for Tier 1 Supplier status. Only ten years old and employing about 500 people, Rimac has supplied technology to Aston Martin for the Valkyrie, Jaguar for the E-Type Zero, Koenigsegg for the Regera, and Pininfarina for the PF0. Porsche bought a ten-percent stake in Rimac last year, following a 30-million-euro investment from Chinese battery maker Camel Group to take a 19-percent stake. The Eastern European concern remains focused on its own bowtie-inspired hypercars as long as founder Mate Rimac leads, though. As he told Motor Trend in April, "Of course I'm very passionate about helping other manufacturers build their cars. But if the shareholders decide it doesn't make sense to produce our own cars, they we'll have to find another CEO."

Hyundai Santa Cruze pickup is a when, not an if

A production version Hyundai HCD-15 Santa Cruz concept looks all but certain to arrive in showrooms to compete in the growing small truck field, and Hyundai Motor America CEO Dave Zuchowski claims the official announcement is now just a matter of scheduling. "Our timing is not crossing our fingers and waiting for approval, it's trying to figure out when we're going to announce it," he said to Motoring. According to Zuchowski, the people at Hyundai's headquarters in South Korea have a say when the announcement comes, but he didn't indicate exactly how soon the model's production could be official. Zuchowski suggested Hyundai intended to ship the truck to places outside the US, too. "I'm not clear on the other markets, but from our perspective it's a vehicle that will be exported to other markets," he said to Motoring. The Santa Cruz was one of the most popular concept debuts at the 2015 Detroit Auto Show, and Hyundai execs in the US quickly started working to get a green light for production from headquarters. As of late December 2015, the automaker reportedly had the engineering feasibility and business case complete for the truck, and the bosses just needed to give final approval. Hyundai would reportedly use the Tucson for the Santa Cruz's underpinnings, and the model might be the company's first with a diesel engine in the US. The production version would enter a booming market for smaller pickups like the Chevrolet Colorado, GMC Canyon, Toyota Tacoma, and newly unveiled second-generation Honda Ridgeline. However, Hyundai's entry would likely be the smallest among them and target young crossover customers who want a little more hauling capability. Related Video:

Insider trading ahead of Hyundai-Kia MPG debacle suspected

Reuters is reporting that large-scale insider trading may be at the heart of some particularly fishy stock-selling behavior, just prior to the original announcement about the Hyundai-Kia fuel economy ratings debacle.
On November 1st, Hyundai-Kia shares traded roughly 2.2 million times (the single highest-volume day of the year), and the stock price fell by about four percent. For reference, a standard daily trading volume for the stock in 2012 saw about 600k shares trading hands. On November 2nd, the company made public the bad news about the dropping fuel economy ratings for many of its models. In other words: No one outside of the company (and only a smallish group inside the company, we'd imagine) should have known anything about the impending bad news as of the first day of November. After the announcement, the stock price tanked, as you'd expect, and trading volume was way down as well.
Experts seem fully aware that the whole thing reeks of leaked information and subsequent insider trading. If chicanery on this sort of scale seems wacky to you, you'd be inline with the experts who report to Reuters that the level of trading is absolutely suspicious.