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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.

Hyundai officially names 3-row SUV the Palisade, to be revealed at LA Auto Show

The reports we've been hearing about Hyundai's new three-row SUV are right, it's going to be called the Palisade and be revealed at this year's Los Angeles Auto Show. Coming for model year 2020, it'll be Hyundai's new flagship SUV with eight-passenger capability. For those counting, that's one more than the Santa Fe XL it will be replacing. Hyundai released one teaser image for us to check out, but it doesn't tell us much of anything about the big SUV. We've been seeing plenty of spy shots of the truck over the past few months that do give us an idea of what to expect, though. Based on the Grandmaster Concept, the three-row SUV looks like it has a luxurious interior. Spy shots show split headlight modules and a large, cascading grille too. It's going to be big. Hyundai tends to name its vehicles after exotic locations, and this one is no different. Palisade refers to the Pacific Palisades, an affluent neighborhood on the coast of Southern California. You might be more likely to see Bentleys and Range Rovers roaming the streets in this area, but Hyundai is adopting it nonetheless. We'll be able to say more come LA Auto Show time, but for now, Hyundai says the Palisade will be available in the summer of 2019 for the U.S. market. When the Palisade does arrive, it will be facing a crowded market of others all elbowing for the same piece of pie. Coming out with a large SUV never seems like a bad idea these days with how the market always receives them, but we'll see how well Hyundai can teach everybody to look for the Palisade nameplate instead of the Santa Fe XL now. Related video:

IED Torino students dream up the PassoCorto for Hyundai

Every year the students at the Istituto Europeo di Design (IED) in Turin work up something new to unveil at the Geneva Motor Show. It's usually a concept for an Italian automaker (like the Alfa Romeo Gloria, the Cisitalia 202 E or the Abarth ScorpION) or at least something European (like the concepts they worked up with McLaren or the ones they did for Aston Martin). But this time they've wandered a little farther from home in designing a sports car for Hyundai.
It's called the PassoCorto - Italian for "short wheelbase" - and it was designed in collaboration between the grad students in the Master in Transportation Design program (under the supervision of Pininfarina design Luca Borgogno) and the Hyundai's European design center.
The design (theoretically) calls for a 1.6-liter twin-turbo four, mounted amidships and driving 266 horsepower to the rear wheels. It looks pretty promising, and if Hyundai were ever keen on taking on the likes of the Alfa Romeo 4C and Porsche Cayman, this strikes us as a damn good place to start.