Latest news with #HMG
Newsweek
12-06-2025
- Automotive
- Newsweek
Eco-Friendly Installation to Keep Kias Safe From Future Violent Storms
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. A hailstorm roared through Western Georgia in March 2023, damaging over 13,000 vehicles that sat out in the elements at Kia Georgia, the car company's manufacturing plant, causing millions of dollars in damage. Today, Kia Georgia produces some of the brand's most popular models, including the Telluride, Sorento, Sportage EV9 and EV6 SUVs. It has the capacity to make 350,000 vehicles annually. Following the storm, Kia Georgia went looking for a creative way to keep future storms from causing so much damage. Enter VPS, a company that makes solar-integrated parking canopies. Not only would the installation protect vehicles from future hail damage, but it would also create solar energy, making Kia's production facility greener in the process. Kia has the goal of mitigating the company's carbon emissions by 97 percent by 2045, based on 2019 levels. A close up view of Vehicle Protection Structures (VPS) solar array covered structure at Kia Georgia. A close up view of Vehicle Protection Structures (VPS) solar array covered structure at Kia Georgia. VPS "VPS hail protection systems are already considered the industry standard for weather protection of large areas of risk, and the integration of solar electricity generation helps manufacturers meet sustainability targets, reduce utility charges, and qualify for available tax credits. Kia Georgia not only believes in building sustainable products but also incorporating sustainable solutions that protect and promote efficiency and quality," Wade White, executive vice president of VPS, told Newsweek. The project and its 17,000 solar panels have the ability to integrate over 10 megawatts of solar-generated energy into Kia Georgia's power system. That will account for up to 30 percent of the power the plant uses over the course of a year. VPS has fabricated the entire project and is about 40 percent done with its installation. The project, which covers much of the northwest side of the West Point, Georgia, manufacturing facility, is scheduled to be completed by the end of 2025. Vehicle Protection Structures (VPS) solar array covered structure at Kia Georgia. Vehicle Protection Structures (VPS) solar array covered structure at Kia Georgia. VPS Kia Georgia isn't the only Hyundai Motor Group (HMG) manufacturing facility in the state. Hyundai Motor Group Metaplant America (HMGMA) opened in March, part of a $7.59 billion investment made in Bryan County, Georgia, by HMG. A joint venture 30-gigawatt-hour battery plant with LG Energy Solution (LGES) is located at the site. It joined the company's SK On battery plant in Commerce, Georgia, as a producer of batteries for HMG's electric vehicles. HMG's total investment in the state to date is $12.6 billion. HMGMA is the largest economic development project in the state of Georgia's history. Also in March, HMG announced that it would invest $21 billion in manufacturing vehicles in the U.S. Of that, $9 billion will be spent to increase the company's production capacity to 1.2 million vehicles annually across its three brands (Hyundai, Kia and Genesis). Hyundai Motor Manufacturing Alabama and Kia Georgia will receive improved production facilities.
Spectator
11-06-2025
- Business
- Spectator
The Sizewell delusion
The Chancellor's promise of £14 billion for the Sizewell C nuclear power station in Suffolk is hardly news. The project has been talked about for 15 years while the existing UK nuclear estate has gradually been shut down and the only other new station, Hinkley Point in Somerset, has stumbled to a decade-long delay and £28 billion of budget overruns. Quite some optimism – verging on Milibandian delusion – is required to embrace the idea that Sizewell will come quicker and cheaper because it will replicate Hinkley Point while avoiding its mistakes. And since Chinese money has been ruled out, it's still a mystery as to who else will pay for the project beside HMG and the French utility company EDF. Unarguably, we need a constant baseload of nuclear power to stop the lights going out in mid-century: commitment to Sizewell can't be all wrong, despite local objections. But what's intriguing about this week's news is that it coincides with the naming of Rolls-Royce as 'preferred bidder' to deliver the UK's first small modular reactors, in theory much easier to bring to fruition. If SMRs can really deliver nuclear power one town at a time by the mid-2030s, as planned, Hinkley Point and unfinished Sizewell will begin to look like dinosaurs. The simple truth is that both should have been done and dusted a generation ago. But nuclear decision-ducking has been a shame on successive governments for as long as most of us can remember. Defensive stocks My recent suggestion of a 'Rearmament Isa' that would incentivise savers to buy shares in UK manufacturers of military kit brought a positive response from one former defence minister but not from the current Chancellor who, let's face it, may not be among my most devoted readers. Nevertheless, I'm hoping the idea might feature in an Isa overhaul this autumn, because last week's £68 billion defence review wish-list of everything from ammo factories to autonomous weaponry was a reminder of how vital it is to sustain an innovative, well-capitalised, British-owned defence industry, rather than one that is picked off piece by piece by US and other foreign predators. And it's fair to say that the review's call for 'warfighting readiness' makes the sector a strong bet for investors anyway, with or without Isa tax benefits. Blue-chip defence stocks have already soared since the beginning of the year – BAE Systems up 68 per cent, Rolls-Royce 55 per cent – but may pause as the market discovers how much of the wish list the government actually commits to buying and to what extent UK firms are impeded (as President Emmanuel Macron of France has signalled) from supplying EU rearmament demand. In the meantime, smart stock-pickers will hunt for defence-related businesses that have yet to catch the upswing. Naturally on this theme I consult this column's veteran investor Robin Andrews, who suggests taking a look at 'engineering and electronics companies that are vital in the supply chain and whose customers are major defence companies and in some cases governments directly'. Here's his promising half-dozen: Melrose Industries in aerospace; Hunting in precision engineering; Filtronic, already a hot stock in telecom systems; and in various aspects of IT, Concurrent Technologies, EnSilica and the curiously named Raspberry Pi. As ever, we urge you to do your own research. City stampede Here we go again: three more tech companies abandoning London. Spectris, a listed precision instrument maker that descends from the Fairey seaplane company and might have featured in our roll call of defence-adjacent stocks above, is selling itself to the US private equity giant Advent for £3.7 billion. Alphawave, an Anglo-Canadian designer of 'high-speed connectivity solutions' that listed in London in 2021, has fallen to US microchip maker Qualcomm for £1.8 billion. Both deals are at huge premiums over the companies' last quoted share prices, reflecting the pattern of chronic undervaluation that has driven the decline of the London Stock Exchange and provoked a stampede of takeovers. Third to go this week is Wise, a money-transfer fintech founded in London by Estonian emigrés and now worth £11 billion, but moving its primary listing to New York. Time and again we're told City authorities, Treasury ministers and the Exchange itself are urgently pursuing reforms to make London's capital markets slicker and sexier; but so far, as the exodus accelerates, to no effect whatever. Top shopkeeper Last week, to some readers' irritation, I applauded a €100 million bonus for Michael O'Leary in his 31st year as the presiding genius of Ryanair. So if I'm in favour of high pay for high performance, logic might dictate that I should also favour the £7 million award to Stuart Machin for his third year's work as chief executive of Marks & Spencer. But I'm not so sure. The high street chain has certainly revived under Machin's leadership: profits are up, stores look fresher, the food offer outpaces rivals and the shares have risen 150 per cent since he took the helm in May 2022. And he's clearly not to blame for the cyber-attack that crippled M&S's website and cost the business £300 million. But nor is he a creator of the M&S brand: he's a hired hand (having previously worked for Sainsbury's, Tesco, Asda and in Australia) whose efforts have been closely mentored by his powerful chairman, Archie Norman. In that case, is it really fair to pay him 140 times the average store manager's salary? Then again, I hear you mutter, what's fairness got to do with it if £7 million is the going rate for global boardroom talent? Maybe, but it's a big number for running a shop and it puts Machin in a merciless media spotlight. Having said which, I'll pop out to buy my M&S picnic lunch.
Yahoo
28-05-2025
- Automotive
- Yahoo
Fresh GV70 lands as Genesis rumours swirl
Recently, the Korean media got into a frenzy, claiming that HMG may be returning to Russia. The car market there is in turmoil, Chinese brands continue to attack but sales volume has collapsed, even for Lada. Long gone are the years of Kia and Hyundai being big players and Genesis a rising star. We know what happened in 2022. It's been four years since Hyundai brought the premium marque to the UK, Switzerland and Germany but their combined volume has always been modest at best. Nothing like how strong Genesis had been in Russia, a market which OEMs - Toyota is the best example - have often grouped as part of their European region. Now: GB, CH, DE; next: SE, NO, DK etc? No-one on the recent media preview of the updated Electrified GV70 would say anything about possible new markets. There again, the global boss himself denied that Genesis would enter Le Mans/Daytona/the World Endurance Championship when I asked him at the Goodwood Festival of Speed last year. Soon after, a statement out of Korea said the opposite: an entry for LMDh would be happening. Still, he did at least give me an exclusive about hybrid plans when I asked him. So. Who knows what is true and what isn't when it comes to Genesis' plans. It does seem highly likely that new countries will be announced. At a guess I would say the Nordics, France, Spain, Italy and others. Certainly, the range of models is now ideal with the facelifted GV60 and G80 revealed earlier in 2025 on their way to the existing three European countries during Q3. GV60, GV70 & G80: facelifts for all three What we do know is that the GV60 remains electric-only worldwide, but non-EV versions of the updated GV70 are not coming to the existing three European markets. Nor will there be a right-hand drive G90, which is a shame but understandable. Despite how fantastic it looks, a six-figures Korean limo would be a hard sell in the UK. We will have only a long-wheelbase Electrified G80 when the refreshed car lands here in July or August, the standard length body having been discontinued worldwide. Oh, and a reminder that the G70 and GV80 are no longer imported to Britain, meaning the once-big range of models is now more sensibly sized. The factory-owned importer is far from discouraged by the slow-slow pace of sales these last few years. In fact, even allowing for a sudden drop in April, 2025 has so far been a good year, Q1 deliveries being strong. Now with the Electrified GV70 revamp and two more refreshes following soon, momentum should build. Why not just GV70 when it's EV-only? I put it to head of Sales Jonny Miller that surely Genesis UK could drop the Electrified part of the model names. In theory this would work, he could see, so that we have the GV60, GV70 and G80 but for now, the Electrified prefix stays (though the GV60 has never had that). And the pre-facelift model will be around for a while yet, as stocks of IC-powered variants were ordered for those prospective buyers who don't want an EV, whatever the brand. Changes to the car itself are more extensive than it seems via a casual glance. Even the diamond-pattern front panel, which is a grille in the petrol variants sold elsewhere, is fresh. And where you used to press to make the spring-loaded charging port cover open, this is now electric: it makes a little whir as the covered sockets are revealed. Oh, and it's heated (snow). Interior even more luxurious than it had been Headlights too are new, the same applies for the bumpers, the wheels are different designs, paint choices have also changed and the interior has had a big makeover. Sadly, the HVAC system is mostly screen-based but there are at least a couple of dials to twiddle and the software in general worked rapidly in the cars I drove. There is a long OLED display atop the dashboard now, while three colour choices feature: black, white & blue or grey & brown. The second and third of those options look rather luxurious in fact even if those combinations may not sound as if they work. They certainly do. Speaking of luxury, Genesis operates a concierge-style service for owners, even though the original We-Come-To-You approach is now expanding to bricks and mortar sales sites. Robin Price, the Product Manager, claims this is 'A five-star experience that respects your time, unlike any other car brand'. In fact, Genesis needs to collect and return an owner's car when it needs a service or has a fault. Why? Because there have only ever been 'Studios', similar to the display spaces Polestar, Tesla and others operate in shopping malls. A hybrid (or an EREV?) to reach Europe in 2027? Even though this brand had at one time declared that it would be electric-only by 2025, this plan was binned in 2024 as the world and laws on emissions keep evolving. Diesel engines for all Genesis models are also now in the past but one or more hybrids are in the future. In the case of the JK1 series GV70, such a car will be in production towards the end of next year. Or so say sources in South Korea, the cypher for this derivative being JKa. The three-letters code gives the game away on where the hybrid will be manufactured: in HMG-speak, a lower case a signifies the United States. However the lead plant will remain in Korea (Ulsan). Dating to 2020, the first generation GV70 will have an extended life, HMG brand models often living for a mere six years with a facelift three years in. A successor probably now won't come until 2028, due to the adaptation of the present model's chassis for a petrol-electric powertrain. Will this be a series hybrid or will it instead have a range extender? Nobody is saying. Ten years of Genesis It may look like a crossover but the Electrified GV70 is marketed as an SUV. It even has Snow/Mud/Sand settings and standard four-wheel drive. There is a way of making it mimic a V6 too, this being via an 'Active Sounds' function. Other than that, the two motors keep themselves near-silent, as befits any vehicle from what is a luxury make. And this year marks one decade since Genesis became a brand, evolving out of a Hyundai sedan's name. Another big change is a fresh battery, the former 77.4 kWh net one being replaced by an 84 kWh one. This, we suspected would happen, due to certain Hyundai and Kia EVs gaining the same capacity pack of cells last year. I didn't get to test the car for more than an hour or two, but I did notice that 84% of remaining range equated to 240 miles. Or so the instrument cluster claimed. The WLTP rating is up to 298 miles. Three trim levels, one battery, up to 360 kW The model grades have also been refreshed, the new three names being Pure (from GBP61,915 OTR before options), Dynamic (GBP70,715) and Luxury (GBP74,915). Each of these gets the CCIC or Connected Car Integrated Cockpit, Google Maps within the gauges cluster, entertainment streaming (the transmission must be in Park) and a B&O sound system. This is quite a fast and powerful vehicle, combined outputs from the two x 180 kW motors being 324 kW (440 PS) and 700 Nm (516 lb-ft). That's not the complete story though, as pressing a boost button liberates an additional fifty pferdestarke (490 PS = 360 kW). The 'VGS' mode (Virtual Gear Shift) mentioned above is fairly convincing at making this feel like an ICE-powered car too. It somehow even makes the single-speed transmission sound as though it has eight ratios. Amazing stuff. Summary Pricing is up but that can be justified when the the levels of standard equipment, clever and genuinely useful technology, driving dynamics and looks have been so greatly improved. Some may find the ride a tiny bit firm on British roads but most buyers won't notice this. The revamped GV70 looks set for more success during what will be a few years yet of an eventual long life cycle."Fresh GV70 lands as Genesis rumours swirl" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Irish Times
21-05-2025
- Politics
- Irish Times
Omagh bombing inquiry: ‘Body of material' not shared due to application to redact information
A 'considerable body of material' has not been shared with the Omagh bombing inquiry due to applications by the UK government and the Police Service of Northern Ireland (PSNI) to redact information from documents, a hearing has been told. The inquiry's lawyer Paul Greaney KC said there was a 'brake' on disclosure due to submissions, and that even at the 'early stage' of March this year 'as many as 80 documents were having to be withheld from disclosure'. It 'will not be possible to disclose to core participants a considerable body of material that contains the names of junior officials and/or suspects until the issues have been resolved', he said. Mr Greaney outlined his 'surprise and frustration' that the inquiry's legal team had received documents from the Northern Ireland Office at 4pm the previous afternoon and said there was a 'risk' it would 'undermine public confidence' in the UK government's approach to the inquiry. READ MORE 'It hardly needs to be said that this inquiry is about whether the Omagh bombing could have been prevented by UK state authorities, and it is also notable that this hearing ... concerns issues that could be described as ones involving transparency,' he said. 'So, it might be thought that HMG [His Majesty's Government] would have been scrupulous to avoid the impression that it was behaving in a way that was procedurally unhelpful,' he said. [ Republic must share Omagh bombing information with inquiry, says North's former police ombudsman Opens in new window ] The two-day hearing, before inquiry chair, Alan Turnbull, opened in Belfast on Wednesday to hear submissions from the UK government on redacting names of junior civil servants from material provided to the inquiry. Submissions were also heard from the PSNI regarding the protection of the identities of suspects connected to the Omagh bombing. The inquiry will see the documents in their unredacted form, so the hearing relates only to the provision of material to core participants to the inquiry. This includes bereaved relatives and those injured in the bombing, all of whom have signed confidentiality agreements. It does not relate to the release of such information into the public domain, which will be considered at a later date. A total of 31 people, including unborn twins, died and hundreds were injured when a car bomb planted by the dissident republican group the Real IRA exploded in the centre of the Co Tyrone town on August 15th, 1998. The inquiry into the bombing began hearing evidence earlier this year, and is due to resume in June. Appearing on behalf of the bereaved families represented by John McBurney solicitors, a barrister told Wednesday's he wished to express their 'dissatisfaction' at the 'apparent diluted candour which they perceive in the approach which has been taken by both HMG and the secretary of state'. [ Omagh bombing inquiry: State reaches deal clearing way for information to be shared Opens in new window ] He reiterated their 'full confidence in the inquiry' and said he would 'strongly discourage' the redaction of the names of junior civil servants 'in order to fully maintain the openness and transparency of these proceedings'. Earlier, addressing Fiona Fee KC, counsel for the Northern Secretary, Mr Turnbull said he had been 'disappointed to receive written notes on behalf of the Secretary of State late yesterday afternoon, just as I was boarding a flight to attend these proceedings' and he was also disappointed 'in respect of the level of engagement with the inquiry which it implies'. It appeared to demonstrate, he said, 'a lack of prioritisation, or allows an impression to be gained of a disrespectful or disorganised attitude towards the work of the inquiry'. Ms Fee said this was not the case and said 'absolutely no discourtesy to the inquiry or to other core participants was intended ... in fact, the intention was entirely the opposite'. On behalf of the PSNI, Philip Henry KC told the hearing it had made a 'conscious decision' not to lodge an application to redact suspects' names, but was 'flagging up these issues so that the inquiry can make an informed determination on the redaction issue'. The hearing resumes on Thursday.
Yahoo
22-04-2025
- Automotive
- Yahoo
Hyundai introduces new generation hybrid system
Hyundai Motor Group (HMG) introduced its next-generation hybrid powertrain system at the company's 'Next-Gen Hybrid System Tech Day' in Seoul this week, which it says will power a new generation of 'industry-leading' hybrid vehicles for global markets under the Hyundai, Kia and Genesis brands – starting with the recently launched all-new Hyundai Palisade SUV. South Korea's leading automaker claims its 'significantly-enhanced' hybrid system delivers greatly enhanced power and efficiency compared with the previous system, and is designed to improve 'the driving and ownership experience of future Group products with customer-focused benefits.' HMG said the new hybrid transmission system comes with two integrated motors that can be paired flexibly with a wide range of internal combustion engines (ICE), allowing for optimized performance and fuel efficiency across a range of vehicle classes. Various electrification-focused technologies have also been incorporated into the new hybrid system to enhance driving performance, refinement and ride comfort, the company added. Dong Hee Han, head of HMG's Electrified Propulsion Test Center, confirmed: 'We have developed an innovative new hybrid system that integrates our long-accumulated engine, transmission and hybrid system development experience with the electrification technology applied to our world-class electric vehicles. We will continue to develop innovative technologies that actively utilize electrification capabilities during the transition to EVs, providing customers with eco-friendly vehicles that offer superior performance.' The new hybrid transmission system includes a new P1 motor that handles starting, battery energy generation and energy deployment to assist propulsion. The P2 driving motor is responsible for propulsion and regenerative braking. This integrated dual-motor setup is said to improve power, performance, and fuel-efficiency while achieving smooth shifting and reduced noise and vibration for a more refined driving experience. HMG confirmed that the new hybrid transmission system 'can be paired flexibly with ICE engines across the group's lineup, delivering a system output from the low-100 PS range to the mid-300 PS region and allowing for broad application from sub-compact to large vehicles.' The new system also integrates 'convenience features commonly found in the group's EVs, such as Stay Mode, Vehicle-to-Load (V2L) functionality, and Smart Regenerative Braking.' The new hybrid transmission system is initially being used in combination with a newly-developed gasoline 2.5-litre turbo engine in the all-new Palisade, to be followed by a 1.6-litre turbo hybrid powertrain in the new Santa Fe. HMG pointed out that 'by reassigning the 2.5L engine's starting and generating tasks to the newly added P1 motor, the turbo hybrid powertrain minimizes power losses. Combined with enhanced cylinder flow within the new engine and the adoption of a high-efficiency cycle optimized for hybrids, fuel efficiency has been improved.' 'Typically, internal combustion engines generate power through four strokes, while the 2.5L turbo hybrid system utilizes an 'over-expansion cycle', intentionally delaying intake valve closure during compression to lower the effective compression ratio of the mixed gas in the cylinder while maintaining a high expansion ratio during the combustion process. This technique reduces power consumption during mixture compression while maximizing energy generated after combustion, significantly enhancing engine efficiency.' The gasoline 2.5 turbo hybrid system used in the all-new Palisade, launched earlier this year, delivers maximum fuel efficiency of 14.1 Km/litre, a maximum system output of 334 PS, and maximum torque of 460 Nm, offering approximately 45% greater fuel efficiency, a 19% increase in maximum power, and a 9% improvement in maximum torque. "Hyundai introduces new generation hybrid system" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
