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Hyundai sticks to EV rollout plans, sees solid growth this year

SEOUL — Hyundai Motor said on Thursday it would not delay plans to roll out new electric vehicles and was upbeat about prospects for continued growth this year — a contrast to recent steps by rivals to cut back on EV output. Electric vehicle sales are growing strongly but not as much as carmakers had forecast, with demand hit by high interest rates. "We do not plan to dramatically reduce EV production or our line-up due to likely near-term hurdles as we believe EV sales will grow longer term," Seo Gang Hyun, an executive vice president at the South Korean automaker, told an earnings briefing for analysts. The Hyundai Motor Group, which encompasses the Hyundai, Kia and Genesis brands, said in April it plans to launch 31 EVs by 2030. This includes the launch of the Ioniq 7 SUV next year. Seo said Hyundai's EV sales next year could be slightly lower than previously expected, but the automaker had the production flexibility to boost output of gasoline engine cars if demand shifted that way and he did not expect a significant impact on overall sales. When asked about the impact on Hyundai Motor of the United Auto Workers (UAW) union reaching a tentative labour deal with Ford, Seo said the company expects the deal will have an impact on wage increases at its U.S. factories, but such costs could be covered as the automaker has been putting effort into reducing costs, such as in logistics. Hyundai Motor, which is not a member of the UAW, operates an assembly plant in Alabama and is building a factory to produce EVs in Georgia. For the third quarter, Hyundai booked a net profit of 3.2 trillion won ($2.4 billion), more than double its year-earlier result and beating an LSEG SmartEstimate of 2.9 trillion won, with the automaker helped by a favourable exchange rate. Sales also increased, climbing 8.7% to 41 trillion won on solid demand for high-margin gasoline SUVs. Sales of EVs and hybrids also grew, up by a third to 169,000 units. This month has seen a flurry of downbeat EV announcements. Citing flattening demand for EVs, GM said it would delay production by a year of Chevrolet Silverado and GMC Sierra electric pickup trucks at a plant in Michigan. Ford is temporarily cutting one of three shifts at the plant that builds its electric F-150 Lightning pickup truck. Tesla is also slowing plans for a Mexico factory, while GM and Honda announced on Wednesday that they were ending a $5 billion plan to develop lower-cost EVs together.

2018 Hyundai Accent packs compact car style in a subcompact

Hyundai's smallest American offering, the Accent, has undergone a thoroughly substantial redesign. The result is a subcompact sedan that's slightly wider and slightly longer, and looks very much like its larger Elantra sibling. The Elantra's hexagonal, slatted grille, headlight shape, and greenhouse have all been scaled down to the Accent's smaller body. Even the taillights echo the pattern of those on the Elantra. Fortunately, the proportions weren't thrown off in the shrinking process, so the Accent is a reasonably handsome, if slightly conservative, sedan. The new Accent also sports a rather spiffy interior, at least with the red and black upholstery shown. That particular color combo wouldn't look out of place in an Elantra Sport. The dash itself isn't particularly remarkable, but it looks attractive enough and fairly straightforward. It also features a 7.0-inch touchscreen with which the occupants can use Apple CarPlay or Android Auto. The seats can also be had with heaters. Hyundai touts automatic emergency braking as an available safety option. Mechanically, the big news comes in the form of chassis rigidity improvements. Hyundai says the new Accent is 32 percent stiffer, thanks in part to more high-strength steel. Under the hood is an updated 1.6-liter direct injection four-cylinder that makes 132 horsepower and 119 lb-ft of torque. This is a bit surprising, as the output is slightly less than that of the outgoing model. On the flip side, Hyundai claims this engine is 7 percent more fuel efficient, and that low-rpm torque has been improved. Plus, 132 horsepower is on par with competitors, and buyers who want to make the most of it have the option of a six-speed manual. A six-speed automatic is available, too. Pricing hasn't been announced for the new Hyundai Accent, but the sedan will show up at dealers during the third quarter of this year. The hatchback version, which has yet to be shown, will arrive in the fourth quarter of 2017. Related Video:

Recharge Wrap-up: Hyundai visually explains fuel cells, BYD T5 electric truck

Are you still unclear about how exactly a hydrogen fuel cell works to power a car? Hyundai is offering a great visual on how its fuel cells operate in cars like the Tucson fuel Cell. Basically, the anode splits the hydrogen molecule into a positive and negative ion. The negative ions are used for electricity, while the positive ions are pushed through a membrane to the cathode, where both ions are combined with oxygen to create the byproduct of water. There's a little more to it than that to make it work in a vehicle, so see for yourself in the infographic below. BYD is launching its T5 electric light truck in China. The truck has a maximum speed of 31 miles per hour, making it mostly suitable for in-city and campus duty. It has a range of almost 250 miles, though, and with its size, the T5 could make a pretty adept delivery truck. The battery is situated under the load bay between the axles, keeping the center of gravity low. Price could be an issue, but government subsidies might help convince some companies to make the switch to BYD's electric truck. See more over at Car News China. The Mahindra Reva e2o electric vehicle will offer a fast charging feature, called Quick2Charge. Normally, the e2o takes five hours to fully charge, but that time gets cut to just one hour with the new option. Choosing the Quick2Charge option adds 45,000 rupees (about $735) to the price of the e2o. The new e2o is supposed to get electric power steering, and, later, a four-door variant. Mahindra Reva is also making an export-only version with Quick2Charge, longer range, electric steering, airbags, and ABS. Read more over at Indian Cars Bikes. The Quebec-Vermont Electric Charging Corridor is set to expand with 14 new charging stations. Melanie Dufresne of the area's tourism board announced that the 240-volt chargers would be installed in Le Haut-Richelieu Regional County Municipality. Drivers will use a special access card to charge at the stations in the region for $2.50. The stations will be installed by the end of the year. To see all the locations and learn more about the announcement, head over to Hybrid Cars.