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Hyundai Motor heir Euisun Chung takes over from father after 20 years in waiting

SEOUL — Hyundai Motor Group appointed Euisun Chung as group chairman on Wednesday, cementing his succession from his octogenarian father in a move likely to give impetus to the world's fifth-largest automaker's push into electric vehicles and flying cars. In the first generational handover at the South Korean automobile giant in 20 years, Chung, 49, said he hoped to lead change at South Korea's second-biggest conglomerate as it battles to stay ahead of the pack in a time of rapid technological innovation in the global auto industry. "Carrying on their bold and innovative legacies, I feel privileged, yet also a sense of great responsibility for opening a new chapter of Hyundai Motor Group," Chung said in his inauguration speech to employees. Chung identified autonomous driving, electrification, hydrogen fuel cell, robotics and Urban Air Mobility (UAM) — industry jargon for flying cars — as his initiatives for the future. Hyundai Motor shares were trading up 0.3% after rising as much as 2.5% after the appointment, while the wider market was down 0.6%. Kia Motors and Hyundai Mobis fell 1.6% and 1.1%, respectively.   Legacies Hyundai Motor Group earlier on Wednesday said Chung had been promoted to chairman from executive vice chairman, replacing his father, Mong-Koo Chung, who was made honorary chairman. Key affiliates of Hyundai Motor Group, including Hyundai Motor, endorsed his inauguration unanimously. The appointment makes Chung the latest third-generation leader to take over one of South Korea's family-led conglomerates, which have been credited with lifting the war-stricken country out of poverty since the 1950s. His father took the wheel of the group in 2000 and transformed the company, once mocked for poor vehicle quality, into the world's No.5 automaker. The 82-year-old has been stepping back from frontline operations in recent years, and gave up his board seat in Hyundai Motor earlier this year. Euisun Chung has played an increasingly visible leadership role since September 2018 when he was promoted to executive vice chairman. Hyundai Motor Group invested $1.6 billion in a self-driving technology joint venture with U.S. Aptiv, forged a partnership with Uber on electric air taxis and invested in ride-hailing firm Grab. In July, Chung set a goal to win more than 10% of the global market for battery EVs by 2025.

Recharge Wrap-up: Chevy Volt's new, improved powertrain; Inabikari wants to build Tesla Model X fighter

We knew the 2016 Chevrolet Volt's new powertrain would provide more range, but we didn't know how much. According to GM's Executive Director Larry Nitz, it is about 12 percent more, overall. "I can't think of a powertrain we've re-engineered more extensively within a five-year period than this one," he said. The battery, electric drive system and gasoline generator have all been reworked to allow for an overall driving range of up to 425 miles, with electric range speculated to reach 42 miles or more. The new Volt will also benefit from 20 percent quicker low-end acceleration, weight reductions and improvements in NVH. Read more at Hybrid Cars and at the SAE website. Hyundai's FCEV research and development boss, Dr. Sae-Hoon Kim, is optimistic about the future of hydrogen mobility in Japan. With the Tucson Fuel Cell already in production ahead of Toyota's FCV, Hyundai has a foothold in the hydrogen car scene. Kim believes that since the Fukushima disaster, Japan's attitudes toward energy make it friendly to a growing hydrogen economy. He also says that hydrogen won't be limited to Hyundai, with Kia getting all the battery EVs. "Both types are for both companies," Kim says. "For the moment, volumes are small and it is not wise to have Hyundai and Kia competing." Read more at Just Auto. The Latvian/German startup Inabikari is using crowdfunding to build an electric crossover for Europe. The Rev.01 EV hopes to compete with Tesla's upcoming Model X with a range of over 400 miles and a five-second 0-60 time. The group currently is trying to raise initial funds through an Indiegogo campaign, with hopes of more investment in the future and sales beginning in 2017. See the video below, and read more at Hybrid Cars and at the Inabikari website. Fuel economy and emissions regulations could lead to some interesting design changes to automobiles. The World Light Duty Test Procedure, set to replace the New European Driving Cycle in 2017, will push automakers to find new ways to reduce drag on their vehicles. For better aerodynamics, we could see traditional side-view mirrors replaced by cameras that display what they see on screens inside the vehicle. Another likely change will be the introduction of smaller, narrower wheels. Improving the average drag coefficient from 0.32 to 0.20 could reduce CO2 emissions by as much as 20 percent. Read more at Automotive News Europe.

Hyundai Grandmaster concept could preview new flagship full-sized SUV

Hyundai just debuted the HDC-2 Grandmaster SUV concept at the Busan Motor Show, a follow-up to the Le Fil Rouge concept shown at the Geneva Motor Show this year. The Grandmaster provides a second take on the "Sensuous Sportiness" design language embodied by the Le Fil Rouge, and previews the direction we'll see Hyundai's products take. Industry observers expect the Grandmaster to become an eight-seater SUV at the top of the carmaker's range, perhaps to be called Palisade. The Grandmaster, whose name refers to a champion chess player, represents the nexus of a host of Hyundai initiatives. There's the name itself, a metaphorical reference to the brand's car and SUV overhaul. In a press release, the company wrote, "The concept vehicle is named to indicate that just as the sum of all chess pieces completes the game of chess, all forthcoming Hyundai vehicles will come to form a harmonious vehicle line-up demonstrating the Hyundai Look while each maintains distinctive character and role." On top of that, Hyundai design director Luc Donckerwolke recently called the Le Fil Rouge concept the "Queen," and said that the following concept would be the "Bishop." There's the new design direction, which takes over from Fluidic Sculpture, which Hyundai hopes will create a more emotional bond with buyers. Sensuous Sportiness combines "proportion, architecture, styling, and technology," and design chief SangYup Lee wants it to move the carmaker "from being a brand that provides a great value, we will aspire to also become a brand that is widely beloved by our customers." There's the fact that Hyundai has been revamping its SUV game for the U.S. by introducing the Kona, changing the name of the Santa Fe Sport to the Santa Fe, and rolling out the long-wheelbase seven-seater Santa Fe XL. Dividends might have started paying out last month, with the carmaker posting its first year-on-year monthly sales gain of 2018 thanks to the Kona. A production Grandmaster — which seems an eventuality based on winter spy shots of an unknown Hyundai earlier this year — would be a three-row, eight-seater replacing the Santa Fe XL and re-establishing Hyundai in the full-size segment. The predicted Palisade name comes from a Hyundai trademark application filed earlier this year. As a sibling to the Kia Telluride, or perhaps riding on a revised Genesis G90/Kia K900 architecture, the Grandmaster/Palisade could end up on dealer lots as soon as next year, as a 2020 model.