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Hyundai and Kia set aside $412 million for false mileage claims

We still don't know how the whole fuel economy ratings debacle is going to play out for Hyundai and Kia, but both automakers are preparing to make good on their promises to reimburse vehicle owners for lower-than-promised mileage figures. According to Automotive News, Hyundai and Kia have set aside a combined total of $412 million ($225 million for Hyundai and $187 million for Kia) as compensation, which will be sent out on a case-by-case basis via debit cards depending on the vehicle and the mileage driven.
Announced back in November, the exaggerated miles per gallon claims affect around 900,000 Kia and Hyundai products produced for the 2011 through 2013 model years sold in the US and Canada. This whole deal has had plenty of action ranging from suspected whistleblowing from a rival US automaker and even insider trading, but it has probably been most frustrating for vehicle owners who, in most cases, saw their vehicles' city and highway ratings drop between one and three digits.

2019 Hyundai Kona Electric gets 250-mile range rating in the U.S.

Let's get the most salient details out of the way: The Hyundai Kona Electric will show up in California in the fourth quarter of 2018, and other "ZEV-focused states" will soon follow. We'd expect to see the Kona EV in dealerships along the East and West Coasts and in New England in early 2019. It'll have an estimated range of 250 miles from its 64 kWh lithium ion battery pack. Its electric motor sends 201 horsepower and 291 pound-feet of torque to the front wheels. Other markets get a lower-cost, entry-level model with less power and range, but the U.S. will only get this lone range-topping version. View 15 Photos Those specs put the U.S. Kona EV squarely into the thick of the burgeoning electric vehicle market, where it will compete with cars like the Chevy Bolt EV (238-mile range) and Tesla Model 3 (up to 220-mile range). The Nissan Leaf has a much lower 151-mile range. The Kona EV can be fully charged at Level 2 in in a little less than 10 hours. DC fast charging capability is standard on the Kona, and it can go from zero to an 80 percent charge in less than an hour. Cargo capacity stands at 19.2 cubic-feet, which is identical to the gas-powered Kona. The EV also benefits from a standard multi-link rear suspension setup in place of the standard gas-powered, front-wheel-drive model's low-tech torsion beam system. Normal, Eco, and Sport drive modes alter the steering feel and powertrain programming to either emphasize acceleration and performance or maximize range. Hyundai didn't make sweeping changes to the look of the standard Kona in its conversion into an electric vehicle. The helmet-shaped grille of the standard car gives way to a more aerodynamically efficient design with lightly debossed slashes and dashes. The door covering the charging port is also housed in the grille. Split lighting units remain front and rear, and thick plastic cladding lends a utilitarian look to the lifted hatchback profile. It doesn't scream 'electric vehicle' like the Toyota Prius or Hyundai's own Ionic, but differs sufficiently from the gas-powered Kona to make it easy to spot on the road. The rest of the Kona EV package is well-sorted for daily driving duties. A full suite of active and passive safety systems come standard as part of the Hyundai Smart Sense package, including forward collision avoidance with pedestrian detection, rear cross-traffic collision avoidance, blind-spot warning, and lane-keeping assist.

Hyundai Motor's two R&D vice chairmen reportedly resigning

SEOUL — Hyundai Motor Group's two vice chairmen in charge of research and development have offered to resign, three people familiar with the matter told Reuters on Tuesday. R&D president Albert Biermann is likely to be named the new head of the division, two of the sources added, declining to be named as they are not authorized to speak to media. Hyundai is battling a plunge in sales, profits and its share price, and the reshuffle would be the latest since Hyundai promoted Euisun Chung in September to executive vice chairman, moving him closer to succeeding his octogenarian father as head of South Korea's second-largest group. The group has appointed new product strategy, design chiefs and replaced senior executives at its overseas operations, including China and the United States. The latest shake-up at the group, which includes Hyundai Motor and its affiliate Kia Motors, could be announced on Wednesday, one of the sources said. It is "part of a generational change Chung is pushing for," another person said. A Hyundai Motor spokesman declined to comment. The group's vice chairmen, Yang Woong-chul and Kwon Moon-sik, both aged 64, told senior officials on Tuesday that they would leave the company, the sources said, declining to say why they had offered to resign. Biermann, a former BMW performance vehicle development official, adds to a flurry of foreign executives that Chung, 48, has brought in to the company typically dominated by Koreans. In October, Thomas Schemera, also a former BMW executive, was appointed to lead product planning for autonomous cars, connected and electrified vehicles, while Luc Donckerwolke, a former Bentley design chief, was appointed to oversee design at Hyundai and Kia. Hyundai Motor's third-quarter net profit plunged by two-thirds, hit by U.S. recall costs that added to its problems. The automaker was already suffering with weak sales in its key U.S. and Chinese markets. Hyundai's share price is down more than 10 percent this quarter, despite a recent rebound driven by a share buyback plan announced on Nov. 30. Reporting by Hyunjoo JinRelated Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.