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Hyundai to buy electric vehicle batteries from SK Innovation, according to report

SEOUL — Hyundai Motor and affiliate Kia Motors have decided to secure electric vehicle batteries from SK Innovation for the next four to five years, Maeil Business Newspaper said on Friday, citing industry sources. The sources said the deal was worth more than 10 trillion won ($8.6 billion). SK Innovation, Hyundai Motor and Kia declined to comment. Hyundai Motor said in October it would launch 16 EV models by 2025, aiming to boost EV sales 560,000 by then, a level that would be equivalent to more than 10% of its projected global sales this year. Reporting by Hyunjoo Jin. Related Video:    

Hyundai, Kia announce buyback plan for angry Korean investors

Hyundai's controversial decision last September to move its Korean headquarters to an expansive (and expensive) new facility was met with a swift backlash by shareholders. After making the biggest land purchase in South Korean history, the company's share price took a nine-point nose dive.
Now, in a bid to get back in the good graces of its stockholders, Hyundai and its subsidiary, Kia, will make a $615-million stock buyback plan. Reuters claims this is the first time in ten years that Hyundai has made a buyback offer with the explicit purpose of pumping up share prices.
The total deal bumped up Hyundai's share prices 5.7 percent while Kia is up two percent, although neither company has fully recovered from the battering that followed the headquarters announcement. It's unclear what else it will take for Hyundai to recover the ground it lost during the land deal.

Kia and Amazon team up to sell at-home electric charging stations

Amazon really wants to be the one-and-only destination you go to for online shopping, and it's edging a little further into the car world with its latest partnership. Kia is teaming with the online retail giant to sell and install Level 2 chargers for your home. To buy the chargers on offer, you'll need to own/lease an electric or plug-in Kia, or at least have one on order. That includes the Niro EV, Soul EV, Niro PHEV and Optima PHEV. Amazon has previously partnered with Audi to offer installation services is preparation for the E-Tron rollout, but this version of the program is framed differently and meant for Kia owners. This is being done in an attempt to make buying and installing these kind of chargers easier. Most folks know and understand Amazon, so buying everything you might need to get an electric car charger up and running from them could be a comforting process. The benefit to this way of acquiring a 240-volt charger is that Amazon sets up the whole installation process. It'll call out an electrician to inspect your house to see if any changes need to be made to support it, then install the charger. A choice of three Level 2 car chargers are being sold through this partnership. The brands include Bosch, ChargePoint and JuiceBox, ranging from most to least expensive respectively. Access to a Level 2 electric car charger will make your life with an electric car all the better. The 2020 Soul EV (shown below) and 2019 Niro EV both get to a full charge in a little more than nine hours on a Level 2 plug versus a long 59-hour wait from a Level 1 charger. You can get by with Level 1 sometimes, but getting home on a depleted battery late at night then leaving early in the morning doesn't work. In these situations, juice at a faster rate is deeply needed. The chargers are available for purchase now. 2020 Kia Soul EV View 11 Photos