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We’re ready for another day of petrol (or electric) powered fun as we talk about the latest auto related drops at CES as well as the falling price of homes in a majority of the top 50 cities in the US.
Show Notes with links:
Hyundai’s latest announcement at CES reveals a robust hydrogen strategy, signaling a growing industry momentum towards hydrogen as a key player in achieving carbon neutrality in transportation.
- Hyundai's ambitious plans cover hydrogen production, storage, and use in various vehicles, including cars, aircraft, and ships.
- This move is part of a wider trend among automakers, with Toyota, BMW, and GM also developing hydrogen fuel-cell technologies.
- Hyundai's initiative aligns with the U.S. government's $7 billion investment in building seven regional hydrogen hubs.
- The technology behind hydrogen's rise includes proton exchange membrane electrolyzers, exemplified by Hyundai's collaboration with Pajarito Powder.
- "The economics [of hydrogen] are on their way," said Hyundai Global COO Jose Muñoz, highlighting the viability and potential of hydrogen in the automotive industry.
- Hyundai announced their first fuel cell EV in 2013
Watch out GM, Kia is going commercial as they unveiled their new line of modular EVs under the 'Platform Beyond Vehicle' strategy at CES 2024, showcasing versatility and innovation.
- Kia's new range includes the PV5, PV7, and PV1, featuring adaptable designs for various commercial and personal uses.
- The PV5, launching globally in 2025, is central to Kia's vision, with plans for 15 EVs by 2027.
- This initiative includes software development for infotainment, fleet management, and charging, optimizing operational efficiency.
- Kia's PBVs, leveraging Hyundai's SDx strategy, promise a software-defined, continuously learning transportation system.
- "We're going beyond traditional automobile concepts to meet diverse customer needs," says Kia Corp. CEO Ho Sung Song, highlighting the transformative nature of these EVs.
Zillow's latest forecast indicates a potential decline in home prices across 34 major U.S. cities in 2024, marking a significant shift in the housing market dynamics, especially in former pandemic home-buying hotspots.
- The forecast, based on Zillow's Home Value Index, suggests price drops in cities like San Jose and New Orleans as high mortgage rates and a lack of demand are contributing
- While Zillow predicts a nationwide price stabilization, Fannie Mae expects a rise by year-end, with mortgage rates projected to decrease.
- LendingTree suggests that despite lower mortgage rates, overall high home prices may still result in sluggish sales.
Join Paul J Daly and Kyle Mountsier every morning for the Automotive State of the Union podcast as they connect the dots across car dealerships, retail trends, emerging tech like AI, and cultural shifts—bringing clarity, speed, and people-first insight to automotive leaders navigating a rapidly changing industry.
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