Hyundai to invest $ 150 Million in it's US HQ

Hyundai Motor Co., Korean car maker announces plan to invest $ 150 million to expand its North American headquarters in California

The current buildings in the in Fountain Valley are going to get a boost, other complex will also be constructed. This expansion makes to double the capacity of employees from 700 to 1,400, according to a statement.

"The new building will give us the flexibility to grow with our brand, reflect our modern design sensibility, and showcase our commitment to sustainability,” said John Krafcik, CEO of Hyundai Motor America, in the statement.

Hyundai said its investment will create about 1,500 new construction jobs and provide Orange County with $273 million in total economic output.


California Gov. Arnold Schwarzenegger had a meeting with Hyundai Motor Chairman Chung Mong Koo in Seoul earlier today.

The governor is in South Korea as part of an Asian tour that included stops in China and Japan.

Hyundai's U.S. sales have risen in all but two of the past 15 years. The company sold 435,064 vehicles last year, up from 164,190 in 1999.

PRESS RELEASE:

Hyundai to Build New Orange County, California Headquarters

Hyundai Motor Company Chairman Chung Meets with Gov. Schwarzenegger, Commits to Investing Some $150 Million in New Building and Growing Employment in California

FOUNTAIN VALLEY, Calif., Sept. 15 /PRNewswire/ -- In a meeting today with California Gov. Arnold Schwarzenegger, Hyundai Motor Company Chairman Mong-Koo Chung committed to build a new North American headquarters in Orange County – Hyundai's home since its arrival in the United States in 1985. The new building will be constructed on Hyundai's current Fountain Valley campus, securing the company's long-term future in California. Hyundai will invest about $150 million, the largest investment ever made by Hyundai Motor Company in the state. During the approximately two-year project, it is estimated that as many as 1,530 new construction jobs will be created with a $273 million total economic output, according to the Los Angeles County Economic Development Corporation.

The new facility will double the size and occupant capacity of the current headquarters. Plans call for approximately half-a-million square feet in floor and garage space, growing considerably from today's current 220,000 square-foot structure. Capacity will grow to approximately 1,400 occupants, up from 700. Construction is expected to begin in mid 2011 and be completed by the end of 2012. Hyundai employees will work from temporary office space in Orange County during that time. In line with Hyundai's commitment to sustainability, all construction will be LEED certified.

"This investment ensures that Orange County will remain Hyundai's U.S. hub, with our headquarters in Fountain Valley, for the foreseeable future," said John Krafcik, president and CEO, Hyundai Motor America. "The new building will give us the flexibility to grow with our brand, reflect our modern design sensibility, and showcase our commitment to sustainability."

Hyundai Motor Company has grown to become the fifth largest automotive company in the world, taking the global leadership position thanks to its focus on quality and innovation. California in particular is a critical market for Hyundai and a barometer of success in the United States. Since its start in 1985, Hyundai has housed its U.S. Headquarters in California, contributing vastly to the state's economy. Currently, in California, the company:

* Employs approximately 1,400 people

* Invested $152 million in facility development

* Oversees 63 franchised California dealers

Hyundai Facilities Across California

* California City – Proving Grounds

* Chino – Technical Center

* Costa Mesa – Logistic Operations

* Fountain Valley – Regional Sales Office

* Fountain Valley – Hyundai Motor America, U.S. Headquarters

* Huntington Beach – Innocean Worldwide Advertising

* Irvine – Design and Technology Center

* Irvine – Hyundai Capital

* Ontario – Parts Distribution Center

* Port Hueneme & Richmond – Port & Vehicle Processing

HYUNDAI MOTOR AMERICA

Hyundai Motor America, headquartered in Fountain Valley, Calif., is a subsidiary of Hyundai Motor Co. of Korea. Hyundai vehicles are distributed throughout the United States by Hyundai Motor America and are sold and serviced through about 800 dealerships nationwide. All Hyundai vehicles sold in the U.S. are covered by the Hyundai Assurance program, which includes the 5-year/60,000-mile fully transferable new vehicle warranty, Hyundai's 10-year/100,000-mile powertrain warranty and 5-years of complimentary Roadside Assistance.

Bill Gates and Vindo Khosla Invest $23.5 Million in EcoMotors

The Billionaire seem to love to Invest on Green Projects. EcoMotors International has received $23.5 million from Microsoft Corp. Chairman Bill Gates and investor Vinod Khosla for engineering and testing of its trademarked Opoc engine technology.

EcoMotors said in a statement today that the investment marks a key advance in commercializing its opposed piston-opposed cylinder engine. The engine maker plans to use the funds for completing testing and building demonstration units.

Further details about the funding have not been disclosed.

EcoMotors CEO Don Runkle said it is terrific to have the support of prominent investors. He also said EcoMotors' engines will be built in Michigan because of the state's resources and talent. Runkle is a former executive of General Motors and Delphi Corp.

EcoMotors, based in suburban Detroit, says the Opoc architecture allows its opposed piston-opposed cylinder engines to use 50 percent fewer parts than standard engines, while providing 50 percent more fuel efficiency. Runkle says the company is working on its sixth-generation engine and the new funds may be used for the next engine configuration.

Gates, also co-chair of the Bill & Melinda Gates Foundation, said in a statement that the technology may be a stepping stone in advancing affordable, low-emission transportation.

Khosla co-founded Sun Microsystems in 1982 and was a general partner of the venture capital firm Kleiner Perkins, Caufield & Byers in California. In 2004, he founded venture capital firm Khosla Ventures of Menlo Park, Calif., to invest in various green technologies. The firm owns 47 percent of EcoMotors.

Opoc was conceived by Peter Hofbauer, former head of powertrain development at Volkswagen AG and now EcoMotors' chairman and chief technology officer, the company said.

Hofbauer designed the VW high-speed diesel engine that became the foundation for the clean diesel engine used in the Jetta and other VW vehicles, EcoMotors said.

- Autonews Inputs

PRESS RELEASE: Khosla Ventures and Bill Gates Invest in EcoMotors' Revolutionary opoc® Engine

Securing “Series B” funding from two prominent investors represents a major advance in the global commercialization of the opoc® technology.

TROY, Michigan, July 12, 2010 -- EcoMotors International CEO Don Runkle announced today that the Company has secured substantial Series B funding – sufficient to complete engineering and testing of the opoc® engine.

The two exclusive investors in EcoMotors' Series B are Khosla Ventures of Menlo Park, California and Bill Gates. The two principals, Vinod Khosla and Bill Gates, indicate their stakes in EcoMotors reflect a shared belief in the global potential of the opoc® technology and the impact it can have on transportation emissions because of its cost effectiveness.

“opoc® is precisely the kind of game-changing innovation that we at Khosla Ventures are passionate about,” said Khosla. “The only truly disruptive technologies are those that can provide not only payback in months but also economic and carbon benefits to large segments of the world's population without the need for subsidies or massive infrastructure investments. Among next-generation propulsion systems, the opoc® engine is broadly applicable and can provide lower carbon emissions than almost any other technology.”

“The opoc® engine can be an important step in providing affordable, low-emission transportation for the developing world,” said Gates. “EcoMotors has developed a promising technology that could help reduce levels of greenhouse gas emissions in a low-cost, globally relevant way.”

The revolutionary opoc® architecture of opposed pistons and opposed cylinders provides unparalleled benefits:

High Efficiency: The unique enginearchitecture – which offers true modular displacement capability — delivers up to 50% greater fuel efficiency compared with conventional engines of similar output, along with a corresponding reduction in greenhouse gas emissions.

Half the weight and half the size of conventional engines: Theopoc® engine provides unparalleled power density and flexibility in automobile and truck design as well as other engine applications.

Low Cost: With50% fewer parts than a conventional engine, the opoc® is less expensive to manufacture, to purchase, to operate and to tool up.

Established in early 2008, EcoMotors is quickly achieving critical mass in terms of changing the landscape of internal combustion power. Based in Troy, Mich., EcoMotors is commercializing the unique opoc® engine for use in cars, light trucks, commercial vehicles, aerospace, marine, agriculture, auxiliary power units, generators, etc. Anywhere conventional gas or diesel power is currently utilized, opoc® represents a better propulsion solution.

EcoMotors is led by Don Runkle (Chief Executive Officer) and Prof. Peter Hofbauer (Chairman and Chief Technical Officer).

opoc® was conceived by Prof. Peter Hofbauer – who formerly as Head of Powertrain Development at VW designed the original VW high speed diesel engine that became the foundation for the Jetta Clean Diesel that won 2009 Green Car of the Year honors. Don Runkle, as former VP of N.A. Engineering at GM, spearheaded the GM EV1 electric car along with countless other innovations.

EcoMotors is a Khosla Ventures portfolio company. Khosla Ventures offers venture assistance, strategic advice and capital to entrepreneurs. The firm helps entrepreneurs extend the potential of their ideas in breakthrough scientific work in clean technology areas such as solar, battery, high efficiency engines, lighting, greener materials like cement, glass and bio-refineries for energy and bioplastics, and other environmentally friendly technologies as well as traditional venture areas like the Internet, computing, mobile and silicon technology arenas. Vinod Khosla founded the firm in 2004 and was formerly a General Partner at Kleiner Perkins and founder of Sun Microsystems. Khosla Ventures is based in Menlo Park, California.