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Hyundai Motor Group promotes heir apparent

SEOUL — Hyundai Motor Group promoted heir apparent Euisun Chung on Friday to a role of overseeing the conglomerate, moving him a step closer to succeeding his octogenarian father as head of South Korea's second largest group. Chung, 47, who will assist his father and group chairman Mong-Koo Chung, was appointed as executive vice chairman to respond to "deteriorating global trade issues and changes in competitive dynamics in major markets," Hyundai Motor Group said in a statement. Chaebols like Hyundai and Samsung Group, which have grown into global firms from the rubble of the 1950-1953 Korean War, are undergoing a transfer of power to third- or fourth-generation leaders. "In his new capacity, Executive Vice Chairman Euisun Chung will oversee the entire Group's operations, aiding and reporting to Chairman Mong-Koo Chung," the statement said. The appointment also comes as Hyundai battles tumbling profits, mounting pressure from activist shareholders to improve its governance, and amid South Korea's trade tensions with the United States that threaten to disrupt its production plans. "This is a good sign," Park Yoo-kyung, a director at Dutch pension fund APG Asset Management, said of the appointment. "This will enhance transparency about who is controlling the group and who is making key strategic decisions," she said. Generational shift The junior Chung, currently vice chairman of the group's crown jewel, Hyundai Motor Co, has stepped up in recent years, attending motor shows and government meetings with business leaders on behalf of his 80-year-old father who has made few public appearances. Shares in Hyundai Motor ended up 0.8 percent on Friday, and affiliate Kia Motors fell 0.3 percent in a wider market that rose 1.4 percent. Chairman Chung, the all-powerful boss, has presided over Hyundai for about two decades, transforming the company into the world's fifth-biggest car maker along with Kia Motors. Hyundai is now struggling to reverse slowing sales in China and the United States, where the company has suffered due to its delayed response to booming demand for SUVs. The appointment is part of an effort to "improve future competitiveness and secure future growth engines" at a time when the auto industry is undergoing major changes, the group said. The junior Chung has led the group's efforts to develop future vehicles such as autonomous and connected cars, as well as Hyundai's fledging premium brand Genesis.

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.

Hyundai reveals a fourth, autonomous flavor of Ioniq

Hyundai added a fourth variant of the Ioniq line at this year's Los Angeles auto show, but this one isn't headed for production just yet. It's an autonomous concept that Hyundai is using to develop affordable, integrated hardware and software. Integrating all the hardware is something Hyundai is quite proud of, particularly the positioning of the lidar system in the front bumper. Hyundai says moving the lidar gear to the bumper allows the Ioniq "to look like any other car on the road and not a high school science project." We wonder if that statement was directed to Ford and its autonomous Fusion prototypes. The three lidar sensors are combined with a variety of other systems aboard the autonomous Ioniq. A number of the sensors are already going to be installed on production Ioniqs, including the radar for the car's Smart Cruise Control and the lane-keep assist cameras. The car's blind-spot radar will also be used for lane changes. Hyundai says by using these existing parts, implementing autonomous technology should be simpler and cheaper. These standard Ioniq sensors are all supplemented with a GPS antenna, high-definition mapping data, and a three-camera system installed just behind the windshield for detecting pedestrians, lane markings, and traffic signals. The car isn't just for show either. Hyundai has three of the autonomous Ioniqs testing in South Korea, alongside a pair of autonomous hydrogen fuel cell Tucsons. The company will also bring two autonomous Ioniqs to the 2017 Consumer Electronic Show. The cars will be there to give rides to the media. Related Video: Featured Gallery Hyundai Autonomous Ioniq concept View 19 Photos Image Credit: Hyundai Green LA Auto Show Hyundai Technology Emerging Technologies Autonomous Vehicles Sedan 2016 LA Auto Show hyundai ioniq