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Auto blog
Superman-themed Kia Optima Hybrid definitely not faster than a speeding bullet
Thu, 07 Feb 2013The Justice League of America's garage is filling up quickly, with Kia and DC Entertainment unveiling its sixth of eight super hero-inspired vehicles at the Chicago Auto Show today. The vehicles are being used to raise awareness for DC Entertainment's "We Can Be Heroes" giving campaign.
The latest Kia to get the super hero treatment is the Optima Hybrid, which draws on the almighty Superman for inspiration. We're not sure what to make of this thing, honestly, as neither Clark Kent nor Kal-El would be caught dead in it (unless it's got the optional Kryptonite seatbelts, of course). Rather, this looks like what we imagine a Superman fanboy would construct if given carte blanche to ruin an Optima Hybrid. The actual design and construction were handled jointly by Kia, DC Entertainment and Super Street magazine.
We'll let the pictures do the talking in terms of what modifications were made since they're all cosmetic. That is, no mechanical mods were done to make the Kia Optima either faster than a speeding bullet or more powerful than a locomotive (shame).
Hyundai spooks investors by paying $10B for new Gangnam HQ location
Thu, 18 Sep 2014Doing 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 asked to pay $28.9M in patent infringement case
Fri, Oct 2 2015After years of litigation, Hyundai and Kia have lost their hybrid technology patent infringement case against Paice LLC. The jury ordered the South Korean automakers to pay $28.9 million, but according to Bloomberg, because the violation was allegedly intentional, the judge could triple that amount. The automakers have announced plans to appeal the ruling. Paice's patent dates from 1994 on a piece of tech called the Hyperdrive, and it was a way to seamlessly switch between power from an electric motor and an internal combustion engine. This lawsuit was first filed in 2012 and covered the systems in the Hyundai Sonata Hybrid and Kia Optima Hybrid. According to Bloomberg, the companies tried to argue that the patent was no longer valid, but the strategy failed. "Hyundai strongly believes its position and will appeal any remaining adverse findings to the Federal Circuit," the company said in a statement to Autoblog. Paice is certainly no stranger to litigating over the Hyperdrive patent, though. It and Toyota had a similar court battle that lasted years. Eventually, there was a settlement, and the result was Paice getting royalties for each hybrid that the Japanese automaker sold. Similarly, there's a lawsuit pending against Ford over tech in the C-Max, Fusion, and Lincoln MKZ. Hyundai Statement: Hyundai believes that the verdict returned by the jury today in the matter of Paice v. Hyundai Motor Company et al., is not supported by the evidence. Accordingly, Hyundai has requested that the presiding judge enter a judgment in its favor notwithstanding the verdict. Hyundai strongly believes its position and will appeal any remaining adverse findings to the Federal Circuit.