I may have mentioned before (or you may have read about it) that the UK is undergoing a huge austerity program. In order to balance the UK’s books, massive spending cuts are being implemented. But in order to secure votes, the Conservative government (along with the Liberal Democrats) pledged that the NHS would not suffer these cuts in budgets. Wow! A right wing government actually PROTECTING nationalized healthcare? Those crazy Europeans! So this means that other facets of government spending are going to be hit hard. Very hard. In particular, the police. Greater Manchester Police won’t be hiring any new recruits for 2 years in order to save money. That’s how hard we’re talking. So any opportunity to save money will be welcome. Enter a bunch of South Koreans… (Read More…)
Having applied for a trademark on the phrase “range anxiety,” GM seemed to have wedded itself to the idea that all-electric cars are fundamentally compromised in their ability to inspire consumers. But with its range-extended Volt costing $8k more than its prime competitor, the Nissan Leaf, GM appears to be backing away from that position as the International Business Times reports that The General will begin testing EV versions of the Chevy Cruze/Daewoo Lacetti Premiere in Korea. According to the report,
The Cruze EV is equipped with a 31-kWh battery that generates maximum power of 150 kW. On specific test schedules conducted by LG Chemicals, the demonstration vehicles may achieve a range of up to 160 km (100 miles). The vehicles can go from 0 to 100 km/h (60 miles per hour) in 8.2 seconds with a maximum speed of 165 km/h (102.5 miles per hour).
The Cruze EV will be tested as part of a demonstration fleet, so don’t hold out for a Chevrolet EV anytime soon. Reports that GM has “redeemed” itself after “killing the electric car” may yet prove to be premature.
Hyundai demands its fair share of a market that doesn’t exist. The Koreans are stepping up the development of EVs. Two days ago, Hyundai held a test drive event in the suburbs of Seoul. The invitees could drive a (blue is the new green) Hyundai BlueOn EV. The Nikkei [sub], who was invited, reports: (Read More…)
I don’t know how the US press is reporting it, but according to the UK press, California is on the verge of economic collapse. IOU’s were issued to public workers, lawmakers can’t agree on a budget and neighbouring Nevada has instigated an advertising campaign to lure businesses away from California. Governor “Ah-nuld” Schwarzenegger (who for the rest of the article will be referred to as “AS” as I can’t be bothered to write his name out every single time) is trying his best to bring business to “Cali”. He’s gone on a jaunt to Asia to try and drum up trade. And his press folk will announce even the smallest win. (Read More…)
This is the Hyundai ix20, a a European-style subcompact MPV in the style of Honda’s Fit. Or, more precisely, in the style of Kia’s Venga. In fact, the similarities between the new Hyundai and its Kia-branded predecessor are strong enough to hint at a future of GM-style brand differentiation issues for the Korean concern. And here’s the real irony: both cars share a platform with the Kia Soul, an American-style B-Segment MPV (possibly the only car to fit that description). Couldn’t Kia have rocked the Soul and left the ix20/Venga segment to Hyundai? Or was the Venga simply too good-looking to die? Either way, these two taught twins are a bit close for comfort.
Remember the Saturn Vue? It’s back, baby, and more cannibalistic than ever. Starting in 2011, the refreshed Chevrolet Captiva will be undercutting Opel’s Antara, itself a rebadge of the same Daewoo Winstorm. Because what Opel needs right now is to prove that sometimes it’s worth paying a little extra for a German brand on your rebadged Korean Crossover. That’s what you call giving a brand a sense of purpose. Meanwhile, does anyone out there actually miss the Vue?
Remember when Hyundai was famous for cheap, tiny hatchbacks instead of sculpted, Lexus-alike sedans? Though Hyundai’s first hybrid will be based on its popular Sonata, its first-ever EV is based on its old-school i10 hatchback. The AP reports that the BlueOn (remember, blue is the new green) will be delivered to Korean government fleets this year, with sales to the public starting in 2012. Hyundai hasn’t disclosed whether the BlueOn’s pricetag will be as old-school Hyundai as the i10, but with only 87 miles of EV range and 80 MPH from 16.4 kWh of Lithium-polymer batteries, it looks like low-cost city transport is the name of the game. But with a planned production volume of 2,500 units per year, the BlueOn shows how far Hyundai still has to come before catching up with the Nissans and Mitsubishis of the EV world. Then again, Hyundai’s come from behind before…
Hyundai plans to raise its worldwide production capacity (including Kia) to 6.5 million a year by 2012, company sources told The Nikkei [sub]. To put that into perspective: In 2009, the Hyundai/Kia chaebol sold 4,645,776 cars. To put it further into perspective: GM sold 6.5m cars worldwide in 2009. Here is the expansion blueprint: (Read More…)
I hate to get all “workers of the world unite”, but management seems to get away with a hell of a lot more than the rank and file. Take Prudential’s bid to take over AIG’s Asian arm. The bid failed and the whole exercise cost Prudential £377m (about $579.5m). Digest that figure for a second, then digest the next fact. The CEO, Tidjane Thiam, refuses to stand down over this mistake. Now consider this, if you, as a rank and file member, would cost the company you work for just 1 percent of that previous figure, could you honestly expect to keep your job? Now let’s look at the FIATsco incident. The whole affair cost GM $2b. Again, had you have cost the company you work for just 1 percent of that figure, could you keep you job? After writing this paragraph, I find the next story almost heartwarming. (Read More…)
When Renault and Nissan signed an agreement to form an alliance, few expected it to work. In fact, according to the book “Shift” (or was it “Turn Around”?), Bob Lutz was quoted as saying that Renault would be better off taking the money they spent on the Nissan stake, putting it on a ship, sailing it into the middle of the ocean and sinking it. Another accurate prediction from the One of Maximum Bullsh*t. The reason that the Renault-Nissan has worked so well so far is, according to Carlos Ghosn, communication. Without communication, how can you expect your partner to understand you? Sounds simple, right? Not to Hyundai and Kia. (Read More…)
Since Mahindra doesn’t seem to be giving its self-destructed US distribution channel much attention, we couldn’t help but wonder what exactly is more important to the Indian firm than a little PR the world’s second [sigh] largest car market in the world. The answer, of course, is its acquisition of Ssangyong, a South Korean automaker known only to Americans as the maker of the legendarily ugly Rodius (to be fair, regular TTAC readers may also recall Ssangyong’s bid for world’s ugliest bankruptcy declaration). But the meeting point between Ssangyong and Mahindra isn’t styling, it’s diesel and four-wheel-drive.
Despite the fact that Ssangyong is still technically in receivership, there are still 25 dealers selling its products in Australia on the strength of the motto “We Live Diesel,” while Mahindra has 40 diesel-only Australian dealers. Recently Ssangyong revived the nameplate given to its original product, Korando, for a new model that reportedly launches in Australia later this year. Looking at the evolution of the Korando, from original CJ7 clone to the forthcoming model (which reportedly boasts a 174 hp, 337 lb-ft “German-designed” diesel engine, and available FWD or AWD), one can’t help but wonder where Mahindra sees itself going.
Did we mention that Hyundai is doing well in the U.S.? Sales up 21 percent for the year. Hyundai cars sold in the U.S. average about 30 miles per gallon, the best fuel efficiency in the industry. Jack Baruth loves his 2005 Hyundai Accent so much that major portions had to be redacted such as not to conflict with indecency laws. Can Hyundai do much better than that? They think they can. How? No idea. (Read More…)
Autocar reports that Renault workers in France are jumping on a bus and heading to the Paris Motor Show. Are the doing it because they fancy a day out? Maybe they want to see all the nice cars on display? Nope, they’re going there to protest. OK, so who do you think they are going to protest? Hyundai? Toyota? Ford? Nope. They’re protesting against Renault. So, a bunch of French Renault workers are going to the Paris Motor Show to protest against their own company? Why?
I know that stories about who will buy a down and out Korean carmaker called Ssangyong are not a major click-through magnet. Therefore, just for the record: Ssangyong selected India’s Mahindra & Mahindra as the preferred bidder to acquire a majority stake. And just in case, they named India’s Raghav Industries as the secondary preferred bidder, says The Nikkei [sub]. (Read More…)
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