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Hyundai, Kia looking to cut costs

Hyundai and Kia are off to roaring starts in the United States this year, underscored by Kia's best sales month ever in May. But globally the situation for the South Korean siblings hasn't been nearly so positive. Recently, they reported their fourth consecutive quarter of decreasing operating profits worldwide, and now they're "making efforts to cut costs," according to a statement in a joint email obtained by Bloomberg. However, the companies aren't detailing where they would make the cuts or how much they want to save. The amount could be significant, though. An unnamed Hyundai senior executive reportedly told a South Korean newspaper that the business might be aiming for up to 30 percent in reductions. According to Bloomberg, Hyundai and Kia are facing falling total sales worldwide. Making the situation worse is that the strong Korean won versus the weaker Japanese yen gives competitors an advantage. The automakers also angered investors enough last year to prompt a stock buyback after paying $10 billion for the land for a future headquarters. The prognosis doesn't look utterly dire, though, and new products are on the way. For example, the Hyundai Santa Fe is being refreshed in South Korea, and the next-gen Elantra debuts at this year's Los Angeles Auto Show. There's also the Creta on the way for foreign markets. Additionally, several models are still awaiting the green light, including a Hyundai Genesis-based luxury crossover, a compact CUV, and the Santa Cruz unibody pickup. Meanwhile, the Kia GT is reportedly close to production, too. Related Video:

Recharge Wrap-up: Tow-charging a Tesla, Hyundai Tucson Fuel Cell taxis in Paris

Watch a Tesla charge another Tesla by towing it. Bjorn Nyland has found yet another way to explore what Teslas can do, this time by towing a Model S behind a Model X to recharge the sedan's battery. While it's not the most efficient method of charging, it's definitely one way you could help out a stranded electric motorist in a time of desperation. The single-motor S was couldn't quite hit its regen capacity of 60 kW because of the towing speed. Nyland suggests a dual-motor Tesla in tow might be able to capture more energy. Check out the video above, and read more at Teslarati. Paris-based taxi startup STEP (Societe du Taxi Electrique Parisien) will use 60 Hyundai Tucson Fuel Cells in its fleet. These will replace internal combustion taxis on Paris roads. Hyundai says that its Tucson Fuel Cell taxi fleet presence in Paris will increase from five vehicles to up to several hundred in coming years. Read more from Hyundai. Montreal is installing 50 new EV chargers, with a goal of 1,000 by 2020. The new chargers are in addition to 50 built downtown in August. "Our administration has bet on the electrification of transportation, with a view to being the first electric metropolis in North America," says Montreal Mayor Denis Coderre. The 50 new stations are spread out throughout seven boroughs of the city. Read more at Green Car Congress, or from the City of Montreal (in French). Denver will add 200 electric vehicles to its city fleet by 2020. The city plans to save $800,000 over the next decade due to the switch, as it starts to replace aging vehicles with electric ones starting in 2018. "Both financially and from the environmental perspective, it puts the city in a leadership position," says Denver Energy and Transportation Administrator Tyler Svitak. The city currently employs three EVs in its fleet. Read more at Hybrid Cars, or from The Denver Post. Related Gallery Hyundai Tucson Fuel Cell STEP Taxi Service News Source: Teslarati, YouTube: Bjorn Nyland, Hyundai, Green Car Congress, City of Montreal, Hybrid Cars, Denver Post Government/Legal Green Hyundai Tesla Green Automakers Electric Videos recharge wrapup

Hyundai's Genesis G90 stretches out back home in Korea

Hyundai is getting serious about competing in the luxury market with the launch of its expanded Genesis line. And in the Far East it calls home, that means stretched limousines. Enter the new EQ900L. The Korean automaker's new luxury flagship stretches the wheelbase of the vehicle we now know as the Genesis G90 – or as the Equus in its previous iteration – by an extra 11.4 inches to give the top executives at Samsung and LG extra room to stretch out while in transit from the office to the Psy concert. The elongated cabin space also allows for first-class reclining rear seats, adjustable in 18 directions and upholstered in semi-aniline leather. A long center console runs the entire length of the cabin loaded with everything from ambient lighting to a Lexicon sound system. The same 5.0-liter Tau V8 still provides motivation, channeling 425 horsepower through an eight-speed automatic transmission to all four of the 19-inch wheels. That may not be enough to keep pace with the V12-powered Mercedes-Maybach S600 we get here, but it comes close to the S500 version sold overseas. Unfortunately for those of us living outside of Korea, the EQ900L is only being offered in its domestic market for the time being, where titans of industry can pick one up for 100 million won – equivalent to $84,000 at current exchange rates. Related Video: