Hyundai, Kia unveil electric concept SUVs at LA auto show


San Francisco, Nov 18 | Hyundai Motor and affiliate Kia Corp have unveiled their electric concept SUVs at the Los Angeles Auto Show as they strengthen their all-electric portfolios in line with rival carmakers’ electrification push.

Hyundai and Kia debuted the large-sized “Seven” and flagship “EV9” concept models built on Hyundai Motor Group’s dedicated EV platform, called E-GMP, at the US motor show during a two-day media preview on Wednesday and Thursday.

The carmakers are planning to gradually phase out combustion-engine cars in global markets as governments are adopting more aggressive policies to fight climate change.

The Seven concept has space for seven passengers and aims to travel more than 482 kilometers on a single charge. The EV9 also would get over 482 km on one charge.

The vehicle-to-load (V2L) function is available in the two models. The V2L function serves as a charger on wheels, allowing customers to charge electric devices, such as coffee machines and electric bicycles.

The Seven comes with the group’s IONIQ battery EV brand’s signature design elements, which include Parametric Pixels, the smallest unit of digital imaging. The EV9 was developed under Kia’s new design philosophy “Opposites United”, which embodies its shifting focus toward electrification, the companies said.

Prices and further details about the models will be released later.

In April, Hyundai Motor launched the IONIQ 5 midsize crossover utility vehicle, the first model embedded with the E-GMP platform to strengthen its presence in the eco-friendly vehicle market, reports Yonhap news agency.

The maker of the Sonata sedan and the Palisade SUV also plans to introduce the IONIQ 6 midsize sedan in 2022 and the IONIQ 7 large SUV in 2024. It will begin using alphanumeric names like its bigger rivals, such as BMW, whose models are named Series No. 1-8.

Earlier this month, Kia announced it will sell only EVs in Europe from 2035 and in other major markets from 2040.

The EV9 is the second model embedded with the E-GMP platform after the EV6 sedan.

Kia plans to beef up its EV lineup with 11 models, including seven E-GMP-based ones, by 2025.

Hyundai and Kia together form the world’s fifth-biggest carmaker by sales.

Source: IANS

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Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

The benchmark Indices Nifty started on the positive side after continuous sell off in last week and has managed to settle at 15842.30 with 60 point gain or 0.38 percent. However Nifty has failed to regain 16000 levels prior to LIC listing.

While Bank nifty has managed to settle at 33597.60 levels after gaining 1.44 percent. On the sectoral front, Nifty PSU Bank, Nifty Realty and Auto have contributed 2-3 percent gain on closing basis. On the flip side Nifty IT and FMCG ended with losses of 0.75 percent and 0.35 respectively. In Nifty, EICHERMOT, APOLLOHOSP and UPL were the top gainers while ULTRACEMCO, SHREECEM and ASIANPAINT were the prime laggards.

Technically, after forming the bearish candle on the weekly chart, the index has formed a Doji candlestick on the daily chart which shows indecisiveness among the trades. Moreover, the index has also faced a resistance from falling trend lines and showed profit booking from higher levels. However, Fibonacci retrenchment also has support around 15650 levels.

Traders may find buying opportunities for short term as if 15650 levels is protected. In the hourly chart, with support of the middle Bollinger band short term upside movement is expected. Stock specific action would drive the market in coming days too.

On the derivatives front, the highest call OI is at 16000 strike price followed by 16200 strike prices while on the put side, highest OI is at 15500 strike price. INDIA VIX closed at 24.53 with gain of 4.43 percent intraday indicating volatility is going to remain till weekly expiry . On the other hand, Bank nifty has support at 32600 levels while resistance is placed at 34500 levels.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India



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