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Hyundai sticks to EV rollout plans, sees solid growth this year

SEOUL — Hyundai Motor said on Thursday it would not delay plans to roll out new electric vehicles and was upbeat about prospects for continued growth this year — a contrast to recent steps by rivals to cut back on EV output. Electric vehicle sales are growing strongly but not as much as carmakers had forecast, with demand hit by high interest rates. "We do not plan to dramatically reduce EV production or our line-up due to likely near-term hurdles as we believe EV sales will grow longer term," Seo Gang Hyun, an executive vice president at the South Korean automaker, told an earnings briefing for analysts. The Hyundai Motor Group, which encompasses the Hyundai, Kia and Genesis brands, said in April it plans to launch 31 EVs by 2030. This includes the launch of the Ioniq 7 SUV next year. Seo said Hyundai's EV sales next year could be slightly lower than previously expected, but the automaker had the production flexibility to boost output of gasoline engine cars if demand shifted that way and he did not expect a significant impact on overall sales. When asked about the impact on Hyundai Motor of the United Auto Workers (UAW) union reaching a tentative labour deal with Ford, Seo said the company expects the deal will have an impact on wage increases at its U.S. factories, but such costs could be covered as the automaker has been putting effort into reducing costs, such as in logistics. Hyundai Motor, which is not a member of the UAW, operates an assembly plant in Alabama and is building a factory to produce EVs in Georgia. For the third quarter, Hyundai booked a net profit of 3.2 trillion won ($2.4 billion), more than double its year-earlier result and beating an LSEG SmartEstimate of 2.9 trillion won, with the automaker helped by a favourable exchange rate. Sales also increased, climbing 8.7% to 41 trillion won on solid demand for high-margin gasoline SUVs. Sales of EVs and hybrids also grew, up by a third to 169,000 units. This month has seen a flurry of downbeat EV announcements. Citing flattening demand for EVs, GM said it would delay production by a year of Chevrolet Silverado and GMC Sierra electric pickup trucks at a plant in Michigan. Ford is temporarily cutting one of three shifts at the plant that builds its electric F-150 Lightning pickup truck. Tesla is also slowing plans for a Mexico factory, while GM and Honda announced on Wednesday that they were ending a $5 billion plan to develop lower-cost EVs together.

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.

Hyundai Kia asked to pay $28.9M in patent infringement case

After years of litigation, Hyundai and Kia have lost their hybrid technology patent infringement case against Paice LLC. The jury ordered the South Korean automakers to pay $28.9 million, but according to Bloomberg, because the violation was allegedly intentional, the judge could triple that amount. The automakers have announced plans to appeal the ruling. Paice's patent dates from 1994 on a piece of tech called the Hyperdrive, and it was a way to seamlessly switch between power from an electric motor and an internal combustion engine. This lawsuit was first filed in 2012 and covered the systems in the Hyundai Sonata Hybrid and Kia Optima Hybrid. According to Bloomberg, the companies tried to argue that the patent was no longer valid, but the strategy failed. "Hyundai strongly believes its position and will appeal any remaining adverse findings to the Federal Circuit," the company said in a statement to Autoblog. Paice is certainly no stranger to litigating over the Hyperdrive patent, though. It and Toyota had a similar court battle that lasted years. Eventually, there was a settlement, and the result was Paice getting royalties for each hybrid that the Japanese automaker sold. Similarly, there's a lawsuit pending against Ford over tech in the C-Max, Fusion, and Lincoln MKZ. Hyundai Statement: Hyundai believes that the verdict returned by the jury today in the matter of Paice v. Hyundai Motor Company et al., is not supported by the evidence. Accordingly, Hyundai has requested that the presiding judge enter a judgment in its favor notwithstanding the verdict. Hyundai strongly believes its position and will appeal any remaining adverse findings to the Federal Circuit.