2018 Kia Sportage Lx on 2040-cars

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Hyundai outlines EV strategy as it struggles with cost of engine defects

SEOUL — South Korea's Hyundai Motor pledged to boost sales of electric vehicles to over half a million by 2025 as part of a bid to focus on new technologies and catch up with rivals, but some analysts saw the target as conservative and warned of the costs. The announcement by Hyundai, the world's fifth largest car maker along with affiliate Kia Motors, underscores the accelerating strategy shift under Euisun Chung, who became the motor group's executive vice chairman last year. Hyundai announced a $35 billion investment last week in mobility and other auto technologies by 2025, less than a month after unveiling a $1.6 billion deal to develop self-driving vehicle technologies with Aptiv. The firm said on Thursday it plans to launch 16 EV models by 2025 to boost sales of such vehicles 17-fold to 560,000 by that year. Still, that would be equivalent to just over 10% of its projected global sales this year. The projection compares with more bullish forecasts offered by its bigger rivals. Volkswagen AG expects to make 22 million EVs over the next decade, while General Motors aims to sell 1 million EVs annually by 2026. "That is not an ambitious target. If Hyundai fails to boost volumes fast enough, costs of electric cars will weigh on profitability," Lee Jae-il, an analyst at Eugene Securities & Investment. Hyundai said that the EV market would face intensifying competition and oversupply soon and automakers failing to meet toughening European emissions regulations will face heavy penalties and suffer a serious blow to their reputation. "EV supply is expected to surpass demand from the second half of next year," Ka Suk-hyun, vice president of Hyundai Motor, told an earnings conference call. Quality issues Hyundai's third-quarter net profit rose 59% to 427 billion won ($365 million), well below the average 684 billion profit estimate of analysts based on Refinitiv data, due to 600 billion won provisions it earmarked to address potential engine defects in the United States and South Korea. Quality issues have been a major drag in Hyundai's attempt to steer a recovery from six consecutive annual profit declines and constrained its financial firepower to invest in future technologies. It is still under investigation by U.S regulators and prosecutors over potential faulty engines in some models. Total retail sales fell 3% in the third quarter, as higher U.S.

Recharge Wrap-up: Kia Niro caught at Nurburgring, Tesla & Ben & Jerry

The Kia Niro hybrid was spied testing at the Nurburgring. The prototype of the 2016 Niro — which originally appeared as a concept at the 2013 Frankfurt Motor Show — is heavily camouflaged, so it is hard to tell which exterior features have been carried over. Its plate is registered to a hybrid, but other powertrain details are unavailable (the concept was equipped with a 1.6-liter turbocharged engine and electric drive system good for 158 horsepower). When it goes on sale, positioned below the Soul in Kia's lineup, it will only be available as a hybrid, with a plug-in hybrid version expected in later years. See the video above, and read more at Autoevolution and at Hybrid Cars. A new report from IHS Automotive predicts the EV charger market to surpass 12.7 million units by 2020. In Japan, the number of EV charging stations has surpassed the number of gas stations. The Netherlands, UK and Norway are the leaders in EV chargers in Europe, while Germany and France are slow in their infrastructure growth, relative to their size. CHAdeMO is the more popular charging standard worldwide, but CCS is expected to close the gap. According to the report, PHEVs will become more abundant than BEVs in 2016, and will remain so for a while. Read more at Green Car Congress. Kandi Electric Vehicles has signed a strategic agreement with telecommunications company ZTE Corporation and EV leasing company Zhejiang ZuoZhongYou Electric Vehicle Service (ZZY). The three groups will work together to improve Kandi's "Micro Public Transportation (MPT)" carsharing program. They'll collaborate on promotion, creating a research institute, doing research and development for wireless charging and making their operating system easier to use, among other endeavors. "We are excited to connect Kandi's innovative MPT model with ZTE's cutting-edge technologies," says Kandi Chairman and CEO Hu Xiaoming. "By leveraging ZZY's premium services, our goal is to accelerate MPT's market penetration, maintain our leadership position and achieve greater success in China's booming EV industry." Read more in the press release below. Ben & Jerry's debuted a new ice cream flavor at the Tesla Motors factory in Fremont, CA. Tesla built a special Model S in honor of the event and the new flavor, which is called Save Our Swirled.

Kia brings four jump-ready Tellurides and a modified Stinger to SEMA

Kia dropped the curtain on the Forte GT today at SEMA, but the Korean automaker also has a full plate of modified cars it will be showing there too. Four heavily modified Telluride SUVs, a Stinger, Forte and K900 are all making appearances in Las Vegas. All of the Tellurides look a bit different, but they share the same suspension modifications. It starts with KW Motorsports long-travel shocks with remote reservoirs and three-way adjustable damping. Then Kia fabricated new heavy-duty lower control arms, widened the track by three inches and added King hydraulic bump stops. Why did Kia add such an awesome suspension setup? Well, it plans on jumping these Tellurides all week long at a demonstration track outside of the SEMA show. We think that's a good enough reason. All the Tellurides are also sporting Black Rhino wheels shod with 32-inch Milestar Patagonia mud terrain tires. A straight pipe exhaust has also been fitted. Telluride Horizon Roamer This Telluride has a snorkel for deep-water fording and a large LED light bar on the roof. Kia says this one was designed for conquering the Rubicon trail. The orange paint ensures you won't be missing this big SUV on the rocks either. Telluride Cadet Leader Kia says this one was aimed more toward the trailblazing kind of off-roading. It has flat military style green and black paint and Rotopaks for gasoline on the rear quarter panels. Telluride Desert Drifter Painted to blend in with the desert, this Telluride might be our favorite looking of the bunch. The front LEDs actually blend in nicely with the paint, giving this tough looking off-roader a sense of style. Telluride Baja Glider Here's the only Telluride of the bunch without a massive brush guard. Instead, it gets a front tube bumper to go along with its skid plate. The black paint gives it a much more subdued appearance as well. 2019 DUB Kia Stinger GT DUB certainly went all-in on this Stinger, mounting massive 22-inch wheels and a wide body kit. There's a custom exhaust and intake for extra noise, and the engine bay gets a full dress-up kit. Air-ride suspension brings it all closer to the ground, while the brushed steel and carbon fiber wraps give it an even flashier appearance. A completely custom red/black leather and suede interior make the Stinger unique on the inside too. 2019 DUB Kia K900 The K900 seems like more of a DUB-style car to customize, and this example here is not lacking in the glam department.