2015 Kia Sorento Lx on 2040-cars

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Hyundai Group invests $90 million in Rimac to develop electric halo cars

The Hyundai Group is the next large automaker to make pilgrimage to Croatia, all for the purpose of investing 80 million euros ($90 million) in Rimac. Hyundai has chipped in 64 million euros ($72 million), while Kia added 16 million euros ($18 million). The tie-up puts a much faster spin on the South Korean automaker's electrification goals, with current plans to get 44 "eco-friendly models" on sale by 2025. Developing products with Rimac means working up two proper halo models to lead the charge. The press release stated Hyundai's intent to "to lead the high-performance electrified vehicle market and enhance its status as a game changer in Clean Mobility." According to Thomas Schemera, EVP of the group's product division, "Our goal is to popularize electric vehicles and to create social value through world-class technology and innovation in performance." The Hyundai Kona Electric, Ioniq and Nexo, and the Kia Soul EV and Niro EV have all won praise, but won't be enough in their current forms to garner the attention Hyundai and Kia desire. We'll see first fruits as soon as next year. Two high-performance electric prototypes are expected to debut, one being a battery-electric vehicle, the other a hydrogen fuel cell EV. The battery-powered offering will be a zero-emission version of Hyundai's mid-engined sports car for the N division. This has been in the works for seven years now, with three concepts put on show starting with the Veloster Midship in 2014. The RM15 followed a year later, the RM16 N (pictured) a year after that. The automaker didn't indicate what the FCEV would be. The aim, however, is to bring both to marker "at a later time." On Rimac's side, the investment helps the small Croatian on its quest for Tier 1 Supplier status. Only ten years old and employing about 500 people, Rimac has supplied technology to Aston Martin for the Valkyrie, Jaguar for the E-Type Zero, Koenigsegg for the Regera, and Pininfarina for the PF0. Porsche bought a ten-percent stake in Rimac last year, following a 30-million-euro investment from Chinese battery maker Camel Group to take a 19-percent stake. The Eastern European concern remains focused on its own bowtie-inspired hypercars as long as founder Mate Rimac leads, though. As he told Motor Trend in April, "Of course I'm very passionate about helping other manufacturers build their cars. But if the shareholders decide it doesn't make sense to produce our own cars, they we'll have to find another CEO."

Kia Telluride three-row SUV pricing revealed

Kia has got a certified looker on the way in the 2020 Telluride, and now the mid-sized, three-row SUV has a price. The base, two-wheel drive LX starts at $31,690, plus $1,045 for destination, totaling $32,735. That's $5,400 more than the three-row Sorento, which is noticeably smaller. In relation to competitors, the Telluride's price is $310 more than the 2019 Toyota Highlander, $240 more than the 2019 Honda Pilot, $155 less than the Subaru Ascent. As is Kia's wont, there's a lot of standard equipment in that base spec. The LX comes with eight-row seating done up in Sofino synthetic leather, an eight-inch touchscreen infotainment and USB charge ports for all three rows, smart key with pushbutton start, park distance warning in reverse, and 18-inch wheels. Standard safety features include forward and rear-cross-traffic collision avoidance, blind spot monitoring, smart cruise control with stop and go, rear occupant alert, and second-row safe exit assist. The S trim level starts at $35,035. It swaps eight-row seating for seven seats thanks to the second-row captain's chairs, and rides on 20-inch wheels. The driver gets a 10-way power seat, both front passengers get heated front seats and a power sunroof, and everyone gets "upgraded interior trims." The EX brings genuine leather, but goes back to eight-passenger seating and 18-inch wheels. The infotainment screen grows to 10.25 inches, both front seats get heating and cooling, the passenger gets eight-way adjustability, and there's a power liftgate in back. The top-model SX starts at $42,535, and hops back over to seven-passenger seating and 20-inch black wheels. Premium touches include LED headlights, dual sunroofs, a digital instrument cluster, Harman/Kardon audio, and a 360-degree outside-view camera. A $4,000 Prestige Package for the SX adds all-wheel drive, Nappa leather with premium headliner and trim, a head-up display and heated steering wheel, and climate-controlled second-row captain's chairs. Before the obligatory minor options and accessories, a loaded Telluride will cost $46,935. Every trim gets the 3.8-liter V6 with 291 horsepower and 262 pound-feet of torque, shifting through an eight-speed automatic transmission. When equipped with all-wheel drive and a trailer hitch, the Telluride can pull 5,000 pounds. Since the Sorento offers all-wheel drive on the LX and EX models as well, we expect the Telluride to do the same. On the Sorento, AWD comes as a standalone option for $1,800.

Hyundai and Kia to hit record 8M sales for 2014

Hyundai and Kia are on a sales charge in 2014, and parent company Hyundai Motor Group is increasing projections to a record eight million combined units for the automakers by the end of the year – a bump over the original target of 7.86 million vehicles. According to Bloomberg, the key to the growth is beating expectations in Brazil, China and India, and strong crossover sales are also helping the bottom line. In the US, both automakers are doing well this year. In October, Hyundai saw a six percent dip in monthly sales, but through the first 10 months it sold 607,539 vehicles, compared to 601,773 at this point last year. Kia has done even better with 489,711 units sold from January to October, versus 456,137 for the period in 2013. The good news is a welcome antidote to negative headlines like investors' anger over Hyundai's $10 billion land purchase in Seoul, South Korea. The two automakers also had to pay a $300 million penalty to the Environmental Protection Agency for misstating fuel economy on some models. While sales may reach a new record, profits might not grow as much with them. The strong Korean won means that Hyundai and Kia have a tougher time keeping up profit margins compared to Japanese competitors with a weaker yen.