2014 Kia Sorento Ex on 2040-cars

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Hyundai reveals CEO's pay for first time ever

Thanks to some government pressure, Hyundai's billionaire chairman, Chung Mong Koo, has revealed just how much he gets paid each year. Honestly, the amount is a bit lower than we'd expect considering he helms such a huge industrial empire. The 76-year-old chairman brought home $13 million in 2013, $5.2 million of which came from Hyundai's automotive business while both Mobis and Hyundai Steel chipped in $3.94 million, each. For reference, Ford CEO Alan Mulally netted $23.2 million in 2013, although the vast majority of that money came from stock options.
The push for Chung to reveal his pay was part of a larger effort by the South Korean government called the Financial Investment Services and Capital Markets Act. The act forces several thousand companies to release info on annual pay, bonuses and severance for employees earning over $5 million won ($469,000), according to Bloomberg.
"With the disclosure of the executives' compensation, the pressure to deliver better profits will increase," said Heo Pil Seok, the CEO of Midas International Asset Management. It seems to be working, as Hyundai shareholders, of which Midas is one, have seen their shares increase by 6.1 percent in 2014, which includes a 1.2-percent jump as of yesterday, according to Bloomberg.

Kia plans dedicated PHEV by year’s end, battery-electric crossover in 2021

Back in January, Kia announced something it called its “Plan S” strategy. The $25 billion plan broadly outlines its targets for electric vehicles, with the highlight being plans to sell 11 battery-electric models by the end of 2025, including launching its first dedicated new EV here in the U.S. in 2021. Now we have some new details on what the Korean automaker has in mind for the latter, plus a juicy new tidbit about a new plug-in hybrid coming later this year. It comes via a scripted Earth Day video message between Neil Dunlop, product and technology PR manager, whoÂ’s shown wandering around a forest, and Steve Kosowski, manager of KiaÂ’s long-range strategy, product strategy and mobility, whoÂ’s quarantined at home. Kosowski calls Plan S “a preemptive shift” away from being a traditional manufacturer of combustion vehicles to one focused on electric vehicles, electrified vehicles and mobility. First up will be a dedicated new PHEV model coming to the U.S. by yearÂ’s end. There are no real details offered, but Kosowski brings up the HabaNiro crossover and Imagine concepts as examples of KiaÂ’s design excellence and innovation. The brand has already said the Imagine will go into production within one or two years, but it was never clear whether the “large C-segment car,” as they described it, would make it here. Imagine by Kia Concept View 12 Photos More is said about KiaÂ’s first dedicated EV model, due here by the end of 2021 — possibly earlier in other markets — and riding on a dedicated new EV platform. “ItÂ’s a crossover design that really blurs the line between passenger cars, CUVs, crossovers, itÂ’s a little bit car, a little bit crossover,” Kosowski says. It will have a range of about 300 miles and sub-20-minute fast-charging time. “In the end it will be a very stunning, dramatic new Kia EV, something that youÂ’ve never seen before.” The range figure squares with what Kia advertised with the HabaNiro concept, which it unveiled at the 2019 New York Auto Show, while the automaker has described both it and the Imagine as blurring traditional vehicle segment lines. Both concepts will doubtless lose some of their more fanciful elements — bye bye, HabaNiro's lava red interior — on the way to production, however. Kia is developing a new EV platform that it will share with Hyundai.

A closer look at the 2015 Kia Soul EV

Kia is set to join the fully electric vehicle space this year, with the fresh-faced 2015 Soul EV. The all-electric Soul made its debut at the Chicago Auto Show earlier this month, and Autoblog west coast editor Michael Harley had a chance to speak with Orth Hedrick, Kia's vice president of product planning, about the new electrified hatchback. In its standard form, the Kia Soul offers tons a wealth of functionality with its upright packaging, and with a new 81-kilowatt electric motor underhood, the electric vehicle should be good for between 80 and 100 miles of driving range. Charging times vary from as long as 24 to five hours, depending on your setup, and Kia is partnering with Bosch, Leviton and AeroVironment to provide different charging solutions, depending on a customer's specific needs. Take another, closer look at the 2015 Kia Soul EV in the video, below.