2014 Hyundai Sonata Limited on 2040-cars

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Hyundai spooks investors by paying $10B for new Gangnam HQ location

Doing things Gangnam style apparently costs a serious chunk of change, because Hyundai is reportedly paying roughly $10 billion for 19.6 acres (79,342 square meters) of land in the trendy district of Seoul, South Korea, to serve as the location for its new headquarters. That eye-popping number represents the highest amount ever paid for a plot of land in South Korea, according to Reuters. The hefty price tag reportedly scared investors enough for stock prices to sink dramatically.
Shareholders were apparently upset because the massive outlay could instead have been put back into the company for research and development or other improvements. Instead, the company reportedly bid triple the land's appraised value, says Reuters. The announcement caused Hyundai's stock price to plummet a massive 9 percent, and there were losses from Kia and the company's parts arm, as well. All told, the three of them lost nearly $8 billion in value from the falling share prices - almost enough to pay for the controversial land.
Hyundai currently has its headquarters on the outskirts of Seoul, but seems keen to move to the high-end Gangnam district to show off its rising status. It plans to build a new office complex, hotel, convention center and theme park on the site. According to an analyst speaking to Reuters, that could all cost an additional $6 billion to complete.

Hyundai, Kia to put solar panels on vehicle roofs

Hyundai Motor Group said Wednesday that future Hyundai and Kia models will be equipped with solar panels capable of generating electricity as a way to increase fuel-efficiency and range and lower CO2 emissions. Hyundai says the solar panels will feature in the rooftops or hoods of select vehicles "after 2019" and will supplement traditional internal combustion, hybrid and battery-electric vehicles. The parent group said it's developing three different types of solar roof charging systems comprised of a solar panel, controller and battery. The first generation will be a silicon solar panel system mounted to the rooftops of hybrid models and capable of charging 30 to 60 percent of the battery per day, depending on weather conditions and other factors, starting as early as 2020. The second generation involves a semi-transparent solar roof system applied to a panoramic sunroof and capable of charging an electric-vehicle battery or a battery mounted on a gasoline engine. Hyundai says the latter configuration will help it increase vehicle exports, since solar-equipped ICE vehicles will be able to adhere to regulations limiting CO2 emissions. A third-generation system is being tested right now. It will add solar production capability in the hood and roof of EVs – but the companies don't provide more detail than that at this moment. "In the future, various types of electricity-generating technologies, including the solar charging system, will be connected to vehicles," said Jeong-Gil Park, executive vice president of engineering design at Hyundai Motor Group. "This will enable them to develop from a passive device that consumes energy to a solution that actively generates energy. The paradigm of the vehicle owner will shift from that of a consumer to an energy prosumer." To date, solar vehicle charging technology has mostly been for light-duty tasks, like cooling off the interior or trickle-charging a conventional battery, such as the system offered in the previous Nissan Leaf. Systems that do more than this have typically come with a very steep pricetag for modest capabilities. Panasonic has developed a 180-watt solar roof available for the Japanese version of the Toyota Prius Prime plug-in hybrid that is capable of adding up to 3.7 miles of range per day – at an unspecified (as of this writing) but undoubtedly high cost. Elon Musk, unsurprisingly, has also discussed making a solar roof optional for the Tesla Model 3.

Google poised to release Apple CarPlay rival this month

Apple and Google. They're the Michigan and Ohio State of the tech world. They're New York Yankees and the Boston Red Sox, Real Madrid and Barcelona, or whatever sports-based rivalry you want to cook up. Bottom line, if one company expands into a segment, it's only a matter of time before the other follows suit. And now, that rivalry is about to carry over to your car's dashboard.
Unnamed sources are reporting to Automotive News that Google will unveil its very own challenger to Apple's new CarPlay in-car operating system later this month at the Mountain View, CA company's annual developer conference. The system, allegedly called Google Auto Link, will be the first product to come from the Open Automotive Alliance, a partnership between Google, General Motors, Hyundai, Audi, Honda and hardware manufacturer NVIDIA.
The official announcement is expected to be made on either June 25 or 26, at the Google I/O conference in San Francisco. Expect to hear a lot more about Google Auto Link then.