Automotive
Hyundai Motor Group Invests $18 Billion to Become Top 3 EV Manufacturer by 2030
Hyundai Motor Group Announces Investment Plans to Become Top 3 EV Manufacturer by 2030
Hyundai Motor Group has announced its goal to become one of the world’s top three EV manufacturers by 2030, with a combined sales target of Hyundai Motor, Kia, and Genesis electric models. The Group plans to invest KRW 24 trillion (approximately USD 18 billion) in the domestic EV industry through Hyundai Motor, Kia, and Hyundai MOBIS by 2030. The investment aims to upgrade Korea’s EV ecosystem and strengthen its role as a hub for driving innovation in the global automotive industry.
The Group plans to significantly expand the annual EV production in Korea to 1.51 million units and global volume to 3.64 million units by 2030. To enable such plans, Hyundai Motor and Kia, along with Hyundai MOBIS, plan to invest in the EV sector domestically. The investment will enhance integrated marketability across hardware and software, including diversification of dedicated platform product lineups, advancement of power electric (PE) systems that are key to EV performance, such as batteries and motors, and development of technologies to increase all-electric range (AER) on a single charge.
The companies will actively build a high-speed charging infrastructure to maximize charging convenience for EV customers and to continuously expand the charging network in Korea. The Group plans to sequentially develop dedicated platforms for each vehicle class under the Integrated Modular Architecture (IMA) system, including the ‘eM’ platform designed exclusively for passenger EVs, which will be introduced in 2025.
By 2030, Hyundai Motor Group will have a total lineup of 31 EV models, including models from Hyundai Motor, Kia, and luxury brand Genesis. The Group plans to enter the global top three based on the continuous investment. The Group also announced plans to significantly expand the annual EV production in Korea to 1.51 million units and global volume to 3.64 million units by 2030.
Last year, Hyundai Motor Group announced a new sustainable partnership program to strengthen the competitiveness of the Korean automotive industry and the future automotive era. The Group has also operated a program of KRW 5.2 trillion to better support suppliers on their profit and loss, liquidity, and competitiveness improvement measures.
The Group provides external management consulting to suppliers seeking to develop new future business strategies and discover new business growth engines while helping executives and employees of partner companies to develop future mobility capabilities through special training. Through these strategic investments, the Group plans to hone the Korean EV industry’s competitive edge to deliver unparalleled products and services that will drive the paradigm shift in the global mobility industry.
https://stmdailynews.com/category/consumer-corner/automotive/
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Automotive
Driving Habits May Cost More Than You Think: Data-Backed Driving Techniques to Reduce Fuel Costs and Vehicle Wear
Rising Fuel Costs
(Feature Impact) If you’re feeling pain at the pump, you’re not alone. However, it’s not just rising gas prices that can impact your wallet – it might be your own habits on the road that negatively impact fuel efficiency and add extra strain to your vehicle.
With gas prices fluctuating by more than $1 per gallon nationally in recent years, Mercury Insurance is highlighting how driver behavior can significantly influence fuel costs.
According to the U.S. Department of Energy, aggressive driving – rapid acceleration and hard braking – can reduce fuel economy by up to 40% in city driving and 30% on highways, increasing annual fuel expenses by hundreds of dollars.
For the average American driver, that inefficiency adds up quickly. AAA estimates that annual fuel costs can exceed $2,000 depending on vehicle type and region. A 30-40% reduction in fuel economy can translate into hundreds of dollars in additional fuel expenses each year – before factoring in the added wear on key vehicle components.
“Most drivers think of aggressive driving as a safety issue, but it’s also a cost issue,” said John Dicken, director, material damage claims at Mercury Insurance. “From a claims standpoint, we see how habits like hard braking and rapid acceleration accelerate wear on brakes, tires and suspension components. Smoother driving isn’t just more efficient – it helps reduce preventable damage over time.”
The Hidden Cost of Driving Aggressively
Fuel is only part of the equation.
- Brake replacement can range from $300-800 per axle, depending on the vehicle.
- A new set of tires can cost $600-1,200 or more.
- Poorly maintained or underinflated tires can lower gas mileage by roughly 0.2% for every 1 PSI drop in pressure, according to federal transportation data.
Over time, inconsistent maintenance and aggressive driving habits compound these costs.
“Driving behavior directly impacts how often certain parts need to be replaced,” Dicken said. “When drivers anticipate traffic, maintain steady speeds and keep up with routine maintenance, they reduce strain on their vehicle and potentially avoid unnecessary repair expenses.”
Practical Eco-Driving Tips That Make a Measurable Difference
Consider these strategies recommended by Mercury Insurance to improve efficiency and reduce vehicle wear:
Accelerate gradually: Avoid rapid starts and jackrabbit acceleration, which significantly reduce fuel economy.
Brake smoothly and anticipate stops: Looking ahead and easing into stops reduces stress on brake systems.
Maintain consistent speeds: Using cruise control on highways can help improve fuel efficiency.
Keep tires properly inflated: Check tire pressure monthly and before long trips. If you’re unsure what your vehicle’s tires should be inflated to, locate the sticker inside the driver’s side door jamb for the proper PSI inflation or refer to the owner’s manual.
Remove excess weight: Extra cargo and unused roof racks reduce efficiency and increase drag.
Efficiency, Safety and Sustainability
The Environmental Protection Agency reports that transportation accounts for roughly 28% of total U.S. greenhouse gas emissions. While vehicle technology continues to improve, individual driving behavior remains one of the most immediate ways drivers can reduce both fuel consumption and environmental impact.
“Small, consistent changes in how we drive can produce meaningful savings over time,” Dicken said. “It’s one of the simplest ways drivers can protect both their budget and their investment.”
For more information about efficient driving and other cost saving measures, visit MercuryInsurance.com/Resources.
Photos courtesy of Shutterstock
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Jay Leno Test Drives the Slate Truck as Startup Pushes Toward 2026 Launch
The affordable electric pickup from Slate Auto is gaining attention after Jay Leno test drove the prototype on Jay Leno’s Garage. Here’s the latest update on pricing, features, reservations, and the planned 2026 production launch.
Testing the Slate Truck
The affordable electric pickup from Slate Auto is continuing to gain attention as the startup moves closer to production. One of the most visible recent developments came when legendary car collector and TV host Jay Leno featured the truck on his popular YouTube series Jay Leno’s Garage.
The episode offered one of the most detailed looks yet at the upcoming Slate Truck, including a real-world test drive, design insights, and a closer look at the company’s philosophy behind building what could become one of America’s most affordable electric vehicles.
Watch the Jay Leno Test Drive
What Jay Leno Revealed About the Slate Truck
During the episode, Leno drove a pre-production prototype of the truck while engineers from Slate Auto explained the design approach.
Unlike many modern EVs packed with luxury features, the Slate Truck is intentionally simple.
Key highlights from the test drive include:
A Focus on Simplicity and Repairability
One of the most notable ideas behind the truck is that it is designed to be easy to repair and modify. Instead of relying on proprietary parts or complex electronics, the vehicle uses a more straightforward architecture that could allow owners or independent mechanics to work on it.
This approach contrasts with many EVs that require dealership service or specialized tools.
Modular Body Panels and Customization
The Slate Truck is built around a modular platform with removable exterior panels and optional accessory kits.
According to the company, owners will be able to customize the vehicle with:
Different body panel styles Accessory racks and cargo options A potential conversion kit that can transform the pickup into a small SUV
The idea is to allow the vehicle to evolve with the owner’s needs over time.
Minimalist Interior
Inside the prototype shown to Leno, the truck features a very basic interior layout.
Instead of a large infotainment system, the vehicle relies heavily on smartphone integration and simpler controls to keep costs down. This minimalist philosophy is part of the company’s effort to build a lower-cost EV.
Pricing and the “Affordable EV” Promise
When the truck was first revealed in 2025, Slate Auto suggested the vehicle could cost under $20,000 after incentives.
However, with changes to federal EV incentives and updated pricing expectations, analysts now estimate the truck will likely start around the mid-$20,000 range.
Even at that price, the vehicle could still become one of the most affordable electric trucks available in the United States.
Production Plans in Indiana
The company plans to manufacture the truck in Warsaw, Indiana, where a large former industrial facility is being converted into an EV factory.
Production targets include:
Production start: Late 2026 Early deliveries: Possibly 2027 Potential capacity: Up to about 150,000 vehicles per year once fully ramped
Strong early interest has also been reported, with more than 100,000 reservations placed for the truck shortly after its reveal.
A Different Kind of Electric Truck
The Slate Truck is entering a market where most electric pickups—such as the Ford F-150 Lightning and Rivian R1T—sit at much higher price points.
Rather than competing on luxury or performance, the Slate Truck is aiming to fill a different niche: a practical, customizable, and relatively affordable electric work vehicle.
If the company can deliver on its promises, it could open the door to a new category of budget-friendly EVs.
For now, the test drive on Jay Leno’s Garage provides one of the clearest glimpses yet at how the truck might perform in the real world.
Related Coverage on STM Daily News
- Automotive News and Innovation – STM Daily News
- Boom Supersonic and the Overture: The Return of Commercial Supersonic Travel
- The Evolution of Public Transportation in Los Angeles
- Technology News and Emerging Innovations
Further Reading and Information
- Slate Auto Official Website
- Watch the Slate Truck Test Drive on Jay Leno’s Garage
- Car and Driver: First Look at the Slate Truck
- TechCrunch: Slate Auto Leadership Changes Ahead of Launch
- InsideEVs: Latest Electric Vehicle News
Welcome to the Consumer Corner section of STM Daily News, your ultimate destination for savvy shopping and informed decision-making! Dive into a treasure trove of insights and reviews covering everything from the hottest toys that spark joy in your little ones to the latest electronic gadgets that simplify your life. Explore our comprehensive guides on stylish home furnishings, discover smart tips for buying a home or enhancing your living space with creative improvement ideas, and get the lowdown on the best cars through our detailed auto reviews. Whether you’re making a major purchase or simply seeking inspiration, the Consumer Corner is here to empower you every step of the way—unlock the keys to becoming a smarter consumer today!
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Downtown Phoenix experienced the thunder of Formula 1 engines once again on Saturday, March 14, 2026, when the Red Bull Showrun transformed East Jefferson Street into a temporary motorsports stage. The free public event drew large crowds eager to see a real Formula 1 car perform high-speed demonstrations through the heart of the city.
The star of the event was the legendary Red Bull RB7, one of the most dominant machines in modern Formula 1 history. Fans watched as the car blasted down the temporary street course performing burnouts, donuts, and acceleration runs that echoed between downtown buildings.
A Championship Machine on City Streets
Originally driven to the 2011 Formula 1 World Championship by Sebastian Vettel, the RB7 represents a golden era for Red Bull Racing. The car is known for its aerodynamic design and remarkable performance during the 2011 season.
During the Phoenix showrun, the car was piloted by Scott Speed, a former Formula 1 competitor and experienced motorsports driver. He was joined by Nikola Tsolov, a rising talent in Red Bull’s junior driver development program.
Together, the drivers delivered a high-energy demonstration that gave spectators a rare opportunity to witness the power and precision of Formula 1 machinery up close.
A Tribute to Phoenix’s Formula 1 Legacy
The event also served as a reminder of Phoenix’s unique place in Formula 1 history. The city previously hosted the United States Grand Prix (Phoenix street circuit), which ran through downtown streets from 1989 through 1991.
During those races, fans watched legendary drivers such as Ayrton Senna compete on the challenging desert street circuit.
Although the Grand Prix eventually moved to other locations, the Red Bull Showrun brought the spirit of Formula 1 back to Phoenix for a new generation of motorsports fans.
Formula 1’s Growing U.S. Momentum
The Phoenix showrun comes at a time when Formula One is experiencing unprecedented growth in the United States. The sport now hosts three annual races in Austin, Miami, and Las Vegas.
Promotional events like the Red Bull Showrun help introduce the sport to new audiences and reconnect cities with their racing heritage.
For longtime Phoenix residents, the sound of a Formula 1 engine echoing through downtown streets was more than just a spectacle—it was a powerful reminder of the city’s motorsports past and the growing popularity of Formula 1 across America. 🏎️🔥
Related External Coverage
- Official Red Bull Showrun Phoenix Event Page
- Arizona’s Family (3TV / CBS 5): Coverage of the Red Bull Showrun in Downtown Phoenix
- Formula 1 Official Website – Learn More About the Sport
- City of Phoenix – Downtown Events and Street Closures
- History of the Phoenix Street Circuit and the U.S. Grand Prix (1989–1991)
Stay updated with the latest automotive news, vehicle technology, industry trends, and transportation innovations. The STM Daily News Automotive section explores how cars, electric vehicles, and mobility solutions are shaping the future of the road.
