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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 hearts House Hydrogen and Fuel Cell Caucus in Tucson promotion

Hyundai may be based in South Korea, but the automaker is touting hydrogen fuel-cell technology as an all-American benefit and is getting some help from the US government to do so. The company said this week that it's collaborating with the US Department of Energy and the House Hydrogen and Fuel Cell Caucus at promoting fuel-cell technology. The timing is good because Hyundai just started selling the first mass-produced fuel-cell vehicle sold/leased in the US (unless you count the Honda FCX Clarity, which we know Honda does). The goal for Hyundai and its public partners is to boost awareness of the benefits of fuel-cell technology (the full tank range is similar to a gas-powered vehicle without the tailpipe emissions). With enough awareness and resulting demand, the high cost of both building such vehicles and installing the refueling infrastructure needed to refuel them will theoretically get driven down. Or at least that's what Hyundai and future fuel-cell vehicle makers like Toyota, Mercedes-Benz and General Motors are shooting for. Hyundai started leasing its Tucson crossover fuel-cell vehicle in Southern California earlier this year. The company is charging $499 a month, in addition to a $2,999 down payment for the vehicle, and is allowing drivers to fuel up for no extra charge. Take a look at Hyundai's press release below, and then check out our Quick Spin impressions. Hyundai Collaborates With Congressional Hydrogen And Fuel Cell Caucus To Highlight Introduction Of Mass-Produced Fuel Cell Vehicles In The Retail Market Members of Congress, Department of Energy Tout Importance of Fuel Cell Technology WASHINGTON, Sept. 16, 2014 /PRNewswire/ -- Today, Hyundai collaborated with the House Hydrogen and Fuel Cell Caucus and the Department of Energy to highlight the introduction of the first mass-produced fuel cell vehicles in the U.S. retail market. In a briefing organized by the House Hydrogen and Fuel Cell Caucus, Hyundai executives, Members of Congress, and an official from the Department of Energy discussed the innovative and clean technology that powers hydrogen fuel cell vehicles and the need for additional hydrogen infrastructure in the United States. "Hyundai is thrilled to partner with leaders in Congress and the Department of Energy to promote the continued development and commercialization of these clean energy technologies," said Kathleen Hennessey, Vice President, Government Affairs for Hyundai Motor Company.

Recharge Wrap-up: Hyundai H350 Fuel Cell van, Formula E in Brooklyn

Formula E's New York City e-Prix will take place in Brooklyn. With lower Manhattan and the Statue of Liberty as its backdrop, the race will play out on a 1.21-mile, 13-turn course on the streets of Red Hook. Formula E revealed the location at a press conference at the site of the circuit, at the Brooklyn Cruise Terminal on the New York Harbor. "New York City is where technology, sustainability and commerce collide," says NYC Mayor Bill de Blasio. "We are thrilled to be the new home of the ePrix." The race is scheduled for July 29, 2017. Watch the video above, and read more from Formula E. Hyundai is debuting its H350 Fuel Cell Concept at the 2016 IAA Commercial Vehicle Show in Hannover, Germany. The hydrogen-powered commercial van offers emissions-free (except for water vapor) driving without the lengthy recharge times of a plug-in vehicle. It has a driving range of 262 miles on a single tank, and refuels in just minutes. It can be configured with a cargo area of up to 456 cubic feet, or with seating for 14 passengers. Hyundai's fuel cell van concept draws from the automaker's experience with the Tucson Fuel Cell production vehicle. Read more from Hyundai. Mercedes-Benz says it will offer an electric delivery van again in 2018. The German automaker left the niche market in 2012 after slow sales of its Vito E-Cell, which it launched in 2010. "The future of urban deliveries will be electric," says Volker Mornhinweg, head of the company's vans division. "We at Mercedes-Benz Vans are convinced of this." While Mercedes has not said whether the EV will be a new model or an electric version of a current offering, it did say it would develop the powertrain in-house, and offer various battery capacities. Read more at Automotive News Europe. Related Gallery Mercedes-Benz Vito E-Cell View 16 Photos News Source: YouTube: FIA Formula E Championship, Formula E, Hyundai, Automotive News Europe Green Motorsports Hyundai Mercedes-Benz Minivan/Van Commercial Vehicles Electric Videos recharge wrapup