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Hyundai/Kia's Prius rival to arrive by 2017

The Toyota Prius is the undisputed king of the hybrid market, but Hyundai and Kia are hoping to challenge its reign in the coming years with their own dedicated model. However, in all likelihood this is the same technology being shared between them. "We will take the lead in the future by raising the competitiveness of our environment-friendly cars like hybrid-only cars, plug-in hybrid cars and fuel cell hydrogen cars," Hyundai Motor CEO Kim Choong-ho said to Reuters, during the launch of another vehicle in South Korea.
While Kim didn't say when the model would be ready, Autocar in Europe spoke to people at Kia, who said that the company's own hybrid was two years away and codenamed the DE. The initial vehicle is reportedly a five-door hatchback that's about 169-inches long, with more conventional styling than the Prius. Its powertrain is reportedly based around a 1.6-liter engine with electric assist. A plug-in version might follow later, and other bodystyles on the platform are possible. A recently spotted test mule might show the current state of development on the project (pictured above).
According to Reuters, the decision for the new vehicle comes in order to meet tighter emissions in some markets. However, it seems like a challenging move for the US market. Hyundai already sells its Tucson fuel cell in limited quantities and the Sonata hybrid, and Kia has the Optima hybrid and Soul EV. Industry analysts are also predicting that hybrids might have a hard time versus internal combustion engines in the coming years. In addition, Toyota is rumored to get fuel economy close to 60 miles per gallon for some versions of the next Prius. All of these factors make selling the models here a potentially difficult undertaking.

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.

208k Kia Soul models recalled over broken pedals

Kia is recalling a whole bunch of Souls over accelerator pedals that may bend and fracture. A grand total of 208,858 vehicles are affected, all built between July 21, 2013 and January 8, 2015. Both the standard Soul and its EV counterpart are included in this recall. According to the National Highway Traffic Safety Administration, "If the vehicle has a bent or broken accelerator pedal, the driver may have difficulty accelerating the vehicle, increasing the risk of a crash." Sounds about right – a broken pedal under your right foot certainly can't be good. Kia will add supporting rubber underneath the pedal stopper in these affected vehicles. The Korean automaker will notify owners, and of course, the repair work will be performed free of charge. Look for this recall campaign to officially kick off later this month. NHTSA's official statement is below. Report Receipt Date: MAR 02, 2015 NHTSA Campaign Number: 15V123000 Component(s): VEHICLE SPEED CONTROL Potential Number of Units Affected: 208,858 Manufacturer: Kia Motors America SUMMARY: Kia Motors America (Kia) is recalling certain model year 2014-2015 Soul and Soul electric vehicles manufactured July 21, 2013, to January 8, 2015. A section of the accelerator pedal may bend and fracture. CONSEQUENCE: If the vehicle has a bent or broken accelerator pedal, the driver may have difficulty accelerating the vehicle, increasing the risk of a crash. REMEDY: Kia will notify owners, and dealers will add a supporting rubber underneath the pedal stopper, free of charge. The recall is expected to begin March 24, 2015. Owners may contact Kia customer service at 1-800-333-4542. Kia's number for this recall is SC116. NOTES: Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153), or go to www.safercar.gov. Related Video: