2011 Kia Sorento Base Sport Utility 4-door 2.4l on 2040-cars

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Hyundai and Kia to invest in self-driving startup Aurora

Hyundai Motor Co said on Thursday it would invest in self-driving car software startup Aurora along with Kia Motors Corp to speed up development of autonomous vehicle technologies. "With the new investment, the companies have agreed to expand research to a wide range of models and to build an optimal platform for Hyundai and Kia's autonomous vehicles," Hyundai said. Aurora said in a blog post that Hyundai and Kia's investment is part of a series B financing round, which has now raised more than $600 million. Aurora, which just announced a partnership with Fiat Chrysler Automobiles, competes with Alphabet's Waymo and General Motors' majority-owned Cruise, among others. (Reporting by Rama Venkat in Bengaluru; Editing by Leslie Adler)

Rumored Kia Soul EV spied for the first time

Up until now, we've only heard rumors about an all-electric version of the second-generation Kia Soul, but these spy shots seem to confirm that the Korean automaker is developing a zero-emission version of its quirky little box-back. Our most recent report has the Kia EV showing up in the first half of next year (likely for MY 2015) with a starting price of around $35,000 (presumably before tax credits) and a range of about 120 miles.
While the front and rear of this prototype remains heavily camouflaged, we can see some differences between this car and the 2014 Soul we saw earlier in the year at the New York Auto Show. For starters, the entire front end seems to be changed, including the hood, headlights and fascia, and we would expect Kia's so-called Tiger Nose grille to be blocked off for improved aerodynamics. Further supporting our shooter's claims that this is an electric vehicle is the fact that the Soul's exhaust pipe is missing from beneath the rear fascia.
Previous reports have indicated that the Soul EV will become "the very-first electic vehicle to be sold in the global market, including the US, Europe and China." It would appear that claim may be validated by technicality only - Nissan sells its Leaf in the US and Europe, and it will reportedly be sold as the Dongfeng Fengshen E30 in China.

Hyundai Motor reassigns 17 top execs to make way for fresh ideas

SEOUL — South Korean conglomerate Hyundai Motor Group shook up its executive ranks on Tuesday and appointed its first foreign head of research and development, raising expectations of a smooth transition of power at the family-run business empire. The reshuffle, first reported by Reuters on Tuesday and confirmed by Hyundai on Wednesday, is part of preparations for generational change in the executive ranks at South Korea's second-largest family-owned business empire. Group President Albert Biermann, a German former BMW executive, was named head of research and development, replacing longtime executives Yang Woong-chul and Kwon Moon-sik. The move was seen as a significant step to bring in fresh ideas at the Korean-dominated group. In all, 17 top executives were reassigned across the group including at Hyundai Motor Co and Kia Motors Corp — which together form the fifth-biggest automaker in the world. The move follows the promotion of Euisun Chung in September to Hyundai Motor's executive vice chairman, moving him closer to succeeding his 80-year-old father, Mong-Koo Chung, as group chairman. It comes as Hyundai Motor Co battles to reverse falling profits as a result of U.S. recall costs and weak sales in the U.S. and Chinese markets. Hyundai Motor Co shares jumped as much as 9 percent to their highest level since Oct. 10, while shares in affiliates like Hyundai Mobis, Hyundai Wia and Hyundai Glovis also rallied. While the announcement by Hyundai on Tuesday of a major investment in fuel cell production also lifted sentiment, analysts said most of the share price rise could be attributed to the leadership changes. In particular, it signaled that the junior Chung was making progress with his plans to restructure the sprawling group after a previous plan was scrapped due to opposition from U.S. hedge fund Elliott. "The reshuffle signals that the junior Chung is tightening his grip on the conglomerate, a move which raises investors' hopes for change," said Kim Joon-sung, an analyst at Meritz Securities. Ascendance of outsiders In a sign that Chairman Chung's grip may be weakening, one of his closest lieutenants, Hyundai Motor Co Vice Chairman Kim Yong-hwan, was reassigned away from the core automaker and named vice chairman of steelmaking affiliate Hyundai Steel.