A Pakistani firm, Nishat Mills, has signed an agreement with Korean-based company Hyundai to establish an assembly plant in Pakistan in a major development.
The agreement has been signed between Nishat Mills and Hyundai Motor Company and Sojitz Corporation, a company based in Japan, to establish proper framework for negotiating an assembly plant for the sale of passenger and one tonne range commercial vehicles in the country.
The process of setting up the assembly unit once all the prerequisites and approvals have been granted.
Market sources state that the investment would range from about $400 million to $500 million and the plant would be established within two to three years after all the paper work is complete.
It is also believed that some China based companies like FAW and Foton are interested about investing in Pakistan.
The new Pakistani government policy on foreign investment has started paying dividends as several foreign companies have expressed interest in investments and have already put forward plans to setup assembly plants here in Pakistan.
Tag: Hyundai
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Hyundai to set up assembly plant in Pakistan
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Hyundai plans autonomous cars
Hyundai Motors is planning autonomous cars for the masses.
The auto giant’s Ioniq draws little attention as it manoeuvres the streets of Las Vegas in United States last Friday.
The mid-sized sedan is one of a number of autonomous cars roaming the city’s streets during the high-tech Consumer Electronics.
The South Korean automaker wants to stand out by being ordinary: making a self-driving car for the average consumer.
“The autonomous Ioniq concept is a normal car, not a science project,” said Mike O’Brien, vice president of Hyundai North America, during a demonstration for AFP.
“We believe in democratising this technology,” O’Brien said.
Hyundai’s unremarkable car stands in contrast to others being shown at the huge tech show, which include a number of pricey models with more horsepower and luxury features.
Many automakers are planning for autonomous vehicles but O’Brien says Hyundai “can deliver at an affordable price point” for the average consumer.
In the demonstration, the Ioniq was able to use its turn signal, change lanes, stop at a red light and yield to pedestrians.
In one instance, it began to accelerate with a green light but then suddenly braked.
Vehicle technology manager Andre Ravinowich said the sudden shift came because “the car in front started moving, but braked” and the Ioniq acted to avoid getting too close.
Engineers are working to refine the algorithms which govern these kinds of decisions, based on data collected from sensors in the car and other information.
Hyundai and other automakers are using a technology called LIDAR, or light detection and ranging, for remote sensing of vehicles, pedestrians and other things in the environment.
Ravinowich said there are still a few hurdles before autonomous driving becomes mainstream.
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Hyundai Motor ends year with award
Ranked first for the third time in seven years, Hyundai Motor has been awarded first place in Auto Bild’s Quality Report 2016 and has secured one of the most coveted accolades in the automotive industry.
Following its top rankings in 2010 and 2011, Hyundai Motor has succeeded against its competitors in Germany once again. The in-depth evaluation of quality and reliability, including customer feedback, a customer survey and extensive testing, is conducted annually by Germany’s best-selling motoring magazine. The overall result is extremely positive for Hyundai Motor. The brand recorded a total score of 2.14 on the scale of five.
“That was a successful performance. Well done, Hyundai!” was the verdict of the testing team. Hyundai Motor achieved the first place for the third time in seven years, moving up two places from its third-place ranking last year. The magazine was particularly impressed by the endurance testing of the Hyundai models. A Hyundai i30 underwent testing over 100,000 kilometres, scoring a “1”, which made it the best-ever of Auto Bild’s endurance-tested vehicle. Judging by the interim findings of endurance tests currently in progress, the Hyundai i30 is certainly not an exception. Auto Bild said: “Hyundai can be justly proud of the improvements in quality achieved over the past few years. The extent to which the cars’ feel good factor has improved is currently underscored by the i10 and the Tucson, both of which are popular fleet vehicles and have each run up 30,000 kilometres with no sign of a fault.” Hyundai Motor Europe Chief Operating Officer Thomas Schmid said: “Quality is a key element in Hyundai’s brand strategy, as embodied in our industry-leading peace-of-mind Five-Year Unlimited Mileage Warranty. The first rank in Auto Bild’s Quality Report is a powerful endorsement of Hyundai Motor’s experience and technological development, underscoring our ambition to become the number one Asian brand in Europe by 2020.”
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Hyundai’s first electric car on sale
Hyundai’s first electric vehicle, the Ioniq, will hit showrooms soon. The car can travel 206 km in the city on a single charge and up to 173 km on highways.
Hyundai delivered the first Ionic EV to a local customer on July 5 and held a test-drive event last week.
The Ioniq costs W40-43 million, but the price tag drops to between W20 million to W25 million thanks to government subsidies for green cars (US$1=W1,134).
A full charge costs W8,700 and takes four hours and 25 minutes, while a rapid charge takes only 23 minutes.
Hyundai said it will introduce mobile recharging stations across the country in the second half of this year. EV mechanics will be stationed at Hyundai’s 23 directly run after-service centers and 80 affiliated garages.
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Hyundai Motors donate learning kits to youngsters
Hyundai Motors Nigeria Limited (HMNL) has described basic education as a prime obligation of all children of school age, pledging to continually assist school pupils in line with Hyundai Motor Corporation corporate social responsibility values of ‘Moving the World Together.’
HMNL made this remark at the commencement of the distribution of this year’s Hyundai-branded educational materials to hundreds of thousands of school pupils across seven states in a campaign tagged ‘Education for Brighter Tomorrow.’
No fewer than 13 schools in three geo-political zones of South-West, North Central, and South-South are listed as beneficiaries of this year’s campaign, which started in Lagos and Ibadan, Oyo States respectively.
The campaign which is ongoing moves to Benin, Asaba, Warri, Calabar, Port-Harcourt and Abuja.
Addressing students and teachers of Dairy Farm Senior Secondary School in Agege Lagos, Hyundai Motors Nigeria Head of Sales and Marketing Jatin Nadkarni said the charitable initiative was a continuation of HMNL commitment to children’s of the less privileged welfare.
“It is imperative to bridge the gap between children of the rich and poor especially those in basic schools by motivating the less privileged children to learn without fear of discrimination,” he said.
He pledged the company’s commitment to influencing the enrolment of more children of school age in basic schools through the provision of educational support materials such as school bags, exercise books, water bottles, pens/pencils and mathematical sets among others.
“With children less than 15 years of age accounting for 45 per cent of the country’s population, the burden on education and other sectors has become overwhelming,” he said.
Also lamenting that about 4.7million children of primary school age are still not in school despite increase in enrolment rates, Mr Nadkarni said “the branded Hyundai educational materials will not only entice more students but assuage the cost borne by their parents in procuring fundamental basic items needed by the children.”
Responding, Dairy Farm Secondary School Tutor General, Dr O.A Ayandele hailed HMNL gestures, pledging the school’s commitment to uplifting child development through enhanced learning.
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Hyundai Motors, Diamond Bank renew vehicle finance scheme
Hyundai Motors Nigeria Limited (HMNL) in collaboration with Diamond Bank PLC has launched a vehicle finance scheme to inspire prospective customers and fleet buyers to buy precision engineered and affordably priced made-in-Nigeria Hyundai vehicles.
The scheme which is ongoing is designed to encourage local patrons to own and drive Hyundai vehicles, using convenient bank credit with low interest rates from 14 per cent without commitment and management fees.
Announcing the scheme in Lagos, the duo of Hyundai Motors Nigeria, manufacturers and distributors of Hyundai vehicles and Diamond Bank Plc explained that the scheme has convenient monthly repayment tenor between 12 and 36 months, depending on the customer’s payment option.
While also adding that a comprehensive insurance of 3.5 per cent of the vehicle cost will be borne by the customer, the facilitators of the scheme said customers would in addition be offered free registration, free service for six months or 10,000kms and five years or 100,000kms (whichever is first).
Both establishments brokered this agreement in Lagos at the launch of the scheme aimed at easing challenges associated with accessing low interest bank credit to procure choice cars.
“The credit initiative is a seamless plan for desiring patrons and fleet managers to access low interest bank credit for the procurement of discounted Hyundai vehicles without necessarily paying commitment and management fees,” the duo explained.
Hyundai Motors head of sales and marketing Jatin Nadkarni said: “The joint credit initiative is in line with Hyundai’s strategy and direction of making vehicle acquisition a seamless experience and essentially assists prospective customers to buy new Hyundai vehicles and experience Hyundai inspiring technology.”
The offer which can accessed in all Hyundai Nigeria Limited accredited dealers nationwide includes select Hyundai models like Hyundai Accent 1.4/1.6litre, Grand Xcent & i10 1.2litre sedans, Azera 2.4litre, Creta 1.6litre and Santa Fe 2.4litre & 3.3litre variants.
Nadkarni said the offer was intended to ease vehicle acquisition and assist customers including those without functional account with Diamond Bank to access the facility.
“What we are simply doing is to help prospective buyers starve-off the burden of sourcing funds in one fell-swoop to buy a new car. You can now walk into any Diamond Bank branch to apply for credit to buy your choice car and thereafter, pay at your convenience,” Mr. Nadkarni affirmed.
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Toyota, BMW, Hyundai in recall saga
Toyota Motor Corporation, Hyundai and BMW are recalling some of their models.
Toyota is recalling 60,000 Avalon and Camry sedans in North America because their front passenger air bags may not deploy in a crash.
Hyundai is recalling 173,000 Sonata sedans in the United States for power steering failure, according to filings with the National Highway Traffic Safety Administration.
A recall is in effect for the BMW 7 Series, after supplier Continental AG informed the German automaker that a manufacturing defect could cause the luxury sedan’s airbag control module to fail.
Toyota’s involves Avalons and Camrys from the 2016 model year. Almost all were sold in the U.S.; about 1,500 were sold in Canada and Mexico.
Toyota said the cars have a system that activates or deactivates the front passenger air bags depending on the weight of the passenger. In some of the affected vehicles the system was improperly calibrated, so the front passenger air bags and knee air bags may not deploy.
Toyota said it’s unclear how many times the condition has occurred or whether it has been responsible for any injuries.
The 2011 Sonata has a circuit board inside the power steering system’s electronic control unit that may get damaged from corrosion or other weather-related effects. As a result, the power assist may fail and a warning lamp will appear on the instrument panel, although the driver probably would have already been aware of the increased steering effort. Hyundai said its supplier in South Korea, Mobis, had changed the protective coating on the circuit board in October 2010, after which these problems are said to have ceased. Hyundai first noticed the problem in March 2015 when it began analysing warranty claims for this part and tracked the claims up until January, when Mobis reviewed its records and determined the cause.
Dealers will replace the ECU starting in June. The 2011 Sonata, which was entirely redesigned that year, has been recalled nine times since its 2010 introduction, including for complete steering failures in which the intermediate shaft couplings could separate. In November and September 2015, Hyundai recalled the 2011 and 2012 Sonata for brake pedal defects and engine failures.
Continental AG notified BMW that an error in the manufacturing process, specifically unintended residue of metallic particles left over from stamping, could cause a short circuit and in turn a reset of the airbag control module. The residual metallic particles would need to be separated from the housing through excessive vibration or acceleration. The airbag light would go on, but the airbags would during this time be inactive.
The issue affects 6,110 vehicles in the U.S., all of which will be recalled and repaired with new airbag control modules free of charge. The dealer fix should take about four hours, and BMW will notify customers by mail in May. In addition to the recall, BMW has issued a stop-sale of all 2016 BMW 7 Series. These include the 740i, 750i, and 750i xDrive.
The BMW 7 Series starts at $82,295 including destination for the rear-drive 740i with a turbocharged straight six making 320 hp, and the model range extends all the way to the 750i xDrive which rings in at $98,395 with all-wheel drive and a 4.4-liter twin-turbo V-8 good for 445 hp. For 2017 BMW adds some serious performance chops with the 600-hp Alpina B7 and the stately M760i xDrive with its 600-hp V-12.
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Hyundai ranked No.1 in brand keys
For the seventh year in a row, Hyundai is ranked No. 1 in the automotive category in the Brand Keys Customer Loyalty Index.
Brand Keys, a New York–based customer loyalty and engagement consultancy, publishes this yearly syndicated study, which examines customers’ relationships with 635 brands in 72 categories.
“Psychologists say that seven years is a mark that a friendship will last a lifetime. It’s also the seventh year in a row that Hyundai has been named #1 in our customer loyalty and engagement index,” said Robert Passikoff, Founder and President, Brand Keys.
“When you’re a brand that can build that kind of emotional engagement, and a company that can build cars that meet high expectations, you can count on customers being your friends for a long, long time. We congratulate Hyundai for the great job they’ve done and will undoubtedly continue to do,” Passikoff added.
For the Brand Keys 2016 survey, nearly 43,000 respondents self-selected the categories in which they are consumers and the brands for which they are top 20 per cent customers.
Reacting, Hyundai Motor America Chief Marketing Officer, Dean Evans said Hyundai has a long-standing history of being on top for loyalty.
“This means more consumers who buy a Hyundai buy another, and more than any other car at any price. Our brand mission is to make things better, from the owner to the driving experience, to keep our customers coming back,” Evans added.
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Hyundai unveils sixth generation Elantra
Depending on what you want, the new Hyundai Elantra promises more and, indeed, represents a pretty good value. The 2016 Hyundai Elantra pulls its exterior design inside, with lots of swooping lines and attractive surfaces to match the generally pleasing aesthetic of the car, writes TAJUDEEN ADEBANJO
The 2016 Hyundai Elantra continues to offer ambitious styling, value proposition with improved quality reputation and fuel economy to provoke arch Japanese rivals like Toyota Corolla, Nissan Sentra, Mazda 3 and Honda Civic.
Restyled for 2016 model year, the sixth generation Elantra receives numerous changes including Hyundai’s fluidic design inspiration, cosmetic modifications inside and out, upgraded infotainment, quieter cabin, powerful engine and larger headlamps that wraps around the side of the body with a signature hexagonal grille that helps identify it as part of the Hyundai family.
Hyundai isn’t slowing its car development and the Elantra is a proof. First remodelled in 2011 through 2014, the Elantra has since then undergone remarkable makeovers, returning with an inspiring 2016 model that delivers tremendous economy without sacrificing performance and comfort.
Depending on what auto lovers want in a family sedan, the new Elantra promises more and indeed represent a pretty good value, adding large number of standard features and niceties like Bluetooth, rear-view camera, better road handling, roomy trunk, new front and rear ends with LED fillips around the headlamps.
This is in addition to Hyundai excellent five-year or 100,000km warranty coverage plus keyless ignition and entry; immobiliser, sport-tuned suspension and sharp styling that gives the Elantra one of the most distinctive looks in its class.
Standard features include 16-inch alloy wheels, folding electric outside mirrors, full power accessories, air-conditioning, cruise control, a trip computer, tilt-and-telescoping steering wheel, 60/40-split-folding rear seats, fog lamps and a six-speaker sound system with a CD player – satellite radio and a USB/iPod interface.
Hyundai Motors Nigeria Head of Sales and Marketing Jatin Nadkarni who said this much in his product presentation affirmed that the Elantra is Hyundai’s best selling model ever since the fourth generation model debuted in 2006.
Available in three trim packages including the Executive GLS 1.6 AT (automatic transmission), Elegance GLS 2.0 AT and Elite 2.0 AT, the Hyundai’s sales and marketing helmsman says the Elantra yet remains the family sedan to beat.
He said the cars are powered by two engine variants a Nu 2.0 MPI four-cylinder engine capable of producing 156bhp @ 6,200rpm and U2 1.6 MPI four-cylinder churning out 127.5bhp @ 6,300rpm, both mated to a six-speed automatic transmission.
The 2.0 Elantra, however, makes 60 mph in 8.2 seconds, which puts it on the quicker side of the family-sedan average.
Also added as standard safety features in all 2016 Hyundai Elantra sedans are antilock disc brakes, hill-start assist, stability and traction control, driver and passenger side including side airbags, rear-view camera, Blue Link emergency telematics system that provides services such as remote access, emergency assistance, theft recovery and geo-fencing (allowing parents to set limits for teenage drivers.)
The new Elantra has meanwhile received five-out-five-star rating, with four stars for total frontal crash safety and five stars for total side-impact protection, Nadkarni said.
Showing the automobile media the new Elantra, Mr Karthik Nayak, branch manager Hyundai Motors Nigeria Limited, explained that from whichever angle you view the Elantra, it pulls its exterior design inside, with lots of swooping lines and attractive surfaces to match the generally pleasing aesthetic of the car.
Nayak said: “The centre stack for instance, integrates well with the numerous other curves throughout the cabin, while the buttons and knobs are easy to find and feel.”
Elantra’s interior is appreciably spacious with roomy backseat large enough to accommodate the kids, he added.
He said: “Compared to arch rivals, the Elantra is noticeably quiet at freeway speeds and is indeed one of the quietest cars in its segment. The ride quality is fine and it soaks up road noise better than its competitors. That’s an important metric for the Elantra, since its interior space spills over into mid-size territory.
“Suffice to say the Elantra is an excellent value on many fronts incorporating radiant interior; lots of useful cubbies and storage bins with a covered one that sits ahead of the shift lever. This bin also contains the aux jack, a power point, and the USB port in an easy to reach module, perfect for connecting smartphones.”
The new Elantra would undoubtedly appeal to young and upwardly mobile executives looking for a refreshingly potent sedan that delivers excellent road manners and practicalities – thanks to Hyundai fluidic sculpture design that now incorporates contemporary Hyundai DNA in its product cycle, which to a large extent, gives the Elantra image of a diminutive Sonata.
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Hyundai launches ‘global luxury’ Genesis
Hyundai Motor has announced an all-new global luxury brand – Genesis – that will deliver ‘human-centered’ luxury through a range of new models that feature the highest standards of performance, design and innovation, writes TAJUDEEN ADEBANJO
Interior of the car THE new Hyundai Genesis is a brand that would compete with the world’s leading luxury car brands. Refined performance, athletic elegance in design and human-focused, are part of innovations that elevate the Genesis brand.
Created for a new generation of discerning consumers, Genesis will be a stand-alone brand that operates alongside the company’s popular Hyundai Marque. Capitalising on its success in the fast-growing global car market, Hyundai Motor will launch six new Genesis models by 2020 to compete with the world’s most renowned luxury car brands.
The name – Genesis, – which also means new beginnings, hints at the new values and standards that, the brand will bring to the global luxury car market. Initially on sale in the Korean, Chinese, North American and Middle Eastern luxury car markets, the Genesis brand will expand its reach to Europe and other parts of Asia as the model range grows to full strength.
Setting the brand’s cars apart from competitors, innovation will begin with the consumer, with customer requirements directing development. This philosophy echoes the vision of Hyundai Motor to be a ‘lifetime partner in automobiles and beyond’, with the ‘Modern Premium’ brand direction of Hyundai reinterpreted for the new Genesis Marque.
The Genesis brand seeks to create a new definition of luxury, one that will provide a new platform for future mobility centered on people. By anticipating human needs at every touch point, Genesis models will embody four key aspects: Human-focused innovation, refined and balanced performance, athletic elegance in design and hassle-free customer experience.
“We have created this new Genesis brand with a complete focus on our customers, who want smart ownership experiences that save time and effort, with practical innovations that enhance satisfaction. The Genesis brand will fulfil these expectations, becoming a market leader through our human-centered brand strategy,” said Euisun Chung, Hyundai Motor Company Vice Chairman.
Genesis models will boast outstanding driving dynamics and design, with innovations tailored to closely-meet the needs of customers. The new model line-up will distance itself from the traditional technological overload of brand-focused competitors, concentrating instead on a personalised, hassle-free customer experience. Continuing the customer-oriented approach that flows through every Genesis model, sales and service staff will provide rapid and attentive service to customer’s requests.
To elevate and differentiate the Genesis brand from Hyundai, a distinct design identity, emblem, naming structure and customer service offering is being established.
Genesis models will be badged with a new wing-type emblem, redesigned from the version used on the current Genesis model to create an even more luxurious look. This emblem firmly cements the Genesis models as a collective family of luxury models under the Genesis nameplate.
The Genesis brand will also adopt a new alphanumeric naming structure. Future models will be named by combining the letter ‘G’ for Genesis with a number, 90, 80 or 70 etc., representing the segment.
Woong Chul Yang, Head of Hyundai Motor R&D Center and Vice Chairman of Hyundai Motor said: “The Genesis models will provide technological innovation, excellent driving performance and luxury to customers. Every Genesis model will be created with the needs of our customers in mind, so the resulting car will perfectly meet their needs without any unnecessary burden or excess.”
Fitted with the latest proactive safety technologies, intuitive convenience features and IT connectivity, Genesis models are engineered to provide excellent ride comfort while retaining confident sportiness.
To develop a distinctive and differentiated design for the new Genesis brand vehicles, Hyundai Motor has created a Prestige Design Division. From mid-2016 Luc Donckerwolke, who was previously responsible for the design of Audi, Bentley, Lamborghini, SEAT and Skoda models at the Volkswagen Group, will lead this new division alongside his role as Head of the Hyundai Motor Design Centre. The work of the new Prestige Design Division will be overseen by Peter Schreyer, as part of his group-wide design responsibilities as President and Chief Design Officer (CDO) of Hyundai Motor Group.
“In creating the design signature of Genesis brand cars, we set out to display confidence and originality, creating highly desirable products that present new charm through innovative styling and proportions,” Schreyer said.
