2008 Kia Rio5 Sx Hatchback 4-door 1.6l on 2040-cars

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Hyundai Q1 profit triples, as it adjusts production due to chip shortage

  SEOUL — Hyundai Motor Co posted a first-quarter profit that nearly tripled to its highest in four years as people bought its luxury cars, but warned it would have to adjust production again in May because of a chip shortage. Unlike its rivals, the South Korean automaker staved off production halts in the first quarter, thanks to a healthy chip inventory. But the shortage, exacerbated by factors including a fire at a chip factory in Japan and storms in Texas, is now catching up with Hyundai. Hyundai, which has lagged its rivals in the electric vehicle (EV) race, also said on Thursday that it was developing solid-state batteries and planned to mass produce EVs using solid state batteries in 2030. In February, Hyundai launched its Ioniq 5 electric midsize crossover, the first in a planned family of EVs that it hopes will propel it into the third rank of global EV makers by 2025. Hyundai Motor and Kia together aim to sell 1 million EVs in 2025. In the quarter ended March 31, Hyundai was unscathed as people at home and the United States snapped up its high-margin sports-utility vehicles and premium Genesis cars as the coronavirus pandemic dragged on, fueling car ownership. Net profit surged 187% to 1.3 trillion won ($1.16 billion) from 463 billion a year earlier, when business slumped as countries shut down to limit the spread of the coronavirus. This was in line with an average Refinitiv SmartEstimate. Revenue rose 8.2% to 27.4 trillion won. Hyundai is expected to report net profit of 1.4 trillion won for the April-June period, up 536% from the corresponding period a year earlier, Refinitiv SmartEstimate showed. Hyundai affiliate Kia Corp reported operating profit of 1.1 trillion won for January-March, up 142% on the year. Hyundai, which together with Kia is among the world's top 10 automakers by sales, has temporarily paused production three times since the beginning of this month and saved chips for its most popular models. "The condition of semiconductor parts is being a little more prolonged than we expected," said Seo Gang-hyun, an executive vice president at Hyundai. "As the semiconductor procurement condition is rapidly changing, it's difficult to predict production status after May.

In lifetime analysis, Kia Soul EV is way, way cleaner than diesel model

The heart of the matter is that the battery-electric Kia Soul is better for the environment. And not just because it doesn't create any emissions while on the road. From beginning to end, the Soul EV has a far lower environmental impact than its more conventional counterparts. TUV Nord, the German technical inspection group, says the Soul EV has a carbon footprint that is 40-percent smaller than the one from the diesel-powered Soul sold in Europe. That's factoring in everything from the materials that go into building the car to the recyclability once it's defunct to, of course, tailpipe emissions. Or lack thereof. Kia plans to start sales of the Soul EV in its native South Korea sometime this year and is keeping global sales expectations modest, saying it plans to make about 5,000 Soul EVs annually. The car will be priced at the equivalent of about $39,000 US in South Korea, though government subsidies will cut that down a bit. Kia hasn't set an official launch date for the car in the US, but expects for the Soul EV to be available to Americans by the end of the year, Kia US spokesman James Hope told AutoblogGreen. Check out the press release about the Kia Soul EV's TUV Nord score below and read our First Drive impressions of the model here. Kia Soul EV earns whole-life environmental certificate - Soul EV achieves major TUV Nord Life Cycle Assessment (LCA) certificate - ISO 14040 certification considers whole-life environmental impact of Soul EV (SEOUL) June 18, 2014 – The Kia Soul EV has become the latest model from the Korean brand to earn important certification for its outstanding whole-life environmental credentials. TUV Nord, an independent technical inspection organisation, has certified the new Kia Soul EV according to the ISO 14040 Life Cycle Assessment (LCA) standard. LCA examines the environmental impact of both the car and the overall manufacturing process throughout its whole life, taking into account factors such as choice of materials, tailpipe emissions and recycling. Comparing the Soul EV to its diesel counterpart currently on sale in Europe, the zero-emissions electric vehicle scored particularly strongly for 'Global Warming Potential', emitting 39.7% fewer greenhouse gases over the whole life of the vehicle, such as carbon dioxide and methane.

Genesis' decision to build the Electrified GV70 in America is a sign of things to come

As Steely Dan famously sang, they call Alabama the Crimson Tide. Here in Montgomery, we’re knee-deep in a Green Tide thatÂ’s transforming the business of building and selling cars. The high-style Genesis Electrified GV70 emerging from Hyundai Motor Manufacturing Alabama (HMMA) is the first Genesis built outside South Korea. ItÂ’s only the second made-in-America EV from a foreign-based automaker, after the Volkswagen ID.4 whose Tennessee production kicked off in July.  Get ready for many more. Spurred by the Inflation Reduction Act — whose final interpretations and outcomes remain in Washingtonian flux — automakers foreign and domestic are scrambling to onshore EV-and-battery production to boost American jobs and security, as a condition to securing lucrative tax incentives for manufacturers and consumers. Beginning in 2024, qualifying for EV credits may even require sourcing a hefty percentage of minerals and other battery materials from America or approved trade partners, a list that conspicuously does not include China or Russia. As things stand, that sticking point could make a vast number of 2024 EVs ineligible for purchase credits; though leasing a vehicle may still earn dealers a $7,500 commercial credit that they could pass along to consumers, as most currently do for EV lessees.  The electric version of GenesisÂ’ most-popular SUV is the avatar of Hyundai MotorÂ’s $10 billion American EV investment, which is expected to foster up to 8,000 good-paying jobs. Even thatÂ’s a fraction of what Atlas Public Policy estimates to be $128 billion in industry-wide investment in AmericaÂ’s EV, battery and recycling capacity through 2030 alone. HyundaiÂ’s planned onshore footprint includes a new battery factory northwest of Atlanta, and a $5.5 billion EV factory near Savannah that aims to produce Hyundai, Kia and Genesis EVs beginning in 2025. Beginning that year, Genesis says every new model introduced will be an EV, with no fossil-fuel option. And Genesis plans to phase out gasoline-powered models entirely by 2030, a similar timeline to luxury brands including Volvo and Cadillac. In Alabama, where Hyundai also builds the Elantra, Sonata, Santa Fe and Santa Cruz, an Electrified GV70 is hoisted onto a lift for the final stop on its 16-hour assembly journey.