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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.

Kia unveils SP Signature concept at Seoul Motor Show

The Seoul Motor Show is alive and kicking, and Kia has used its home event to display two new concepts. One is the Mohave Masterpiece large SUV, which is what our Borrego could have become if the Borrego hadn't been sent to slaughter in 2009 after just one year on sale here. The other concept is the SP Signature, said to preview a compact crossover Kia will sell around the world starting later this year. The four-door is a toned-down, more production-ready version of the SP concept unveiled at India's Auto Expo last year. The car's a bit of a cryptid, with few facts and plenty of fuzzy details to go on. The SP Signature concept apparently began as an Indian-market product, then morphed into a worldwide offering. Kia said the "SP Concept hints at the company's plans to introduce a new small SUV for its global markets," but that "hint" has already been confirmed; Kia Motors CEO Han-Woo Park told Automotive News last October that the U.S. would get a new compact crossover in late 2019, and a prototype matching the Signature's profile has been spotted testing. Slotting in below the Sportage and about the size of the Hyundai Kona, the reported retail name is Tusker, but we aren't sure that name will apply here. Although the Signature evokes Kona vibes, detailing makes the Signature look more technical and hawkish than the Kona, which we like. Rumor also has it that the so-called Tusker won't include all-wheel drive as an option so as to leave daylight between it and the Sportage. Several outlets have posited a debut at the New York Auto Show, partly because the N.Y. show put out a press release listing Kia as one of the automakers with a world debut. That press release has since disappeared, and with Hyundai having announced the even smaller Venue crossover for New York, it's possible Kia could have to give way to big brother.

2017 Kia Sportage hits LA in US spec

Kia gave us our first look at the all-new Sportage back in August ahead of its global debut at the Frankfurt Motor Show. But with the LA Auto Show opening this week, the Korean automaker has now released the full details on its new compact crossover. The 2017 Kia Sportage represents a ground-up redesign of the model, adopting a more rounded look compared to the crossover it replaces. The tiger-nose grille makes it instantly recognizable as a Kia. And though it clearly takes a different design approach, its upright quirkiness (to our eyes) makes it a more suitable bridge between (and distinct stablemate to) the unconventional Soul and the larger Sorento. Now entering its fourth iteration, the new Sportage stretches 1.6 inches longer than its predecessor and rides on a 1.2-inch longer wheelbase, but maintains the same width. That means a more spacious cabin for both occupants and cargo, done up with more upscale materials and with the latest technologies buyers have come to expect. The increased use of high-strength steel helps optimize rigidity and weight in the latest iteration of Kia's longest-running nameplate, helping it launch a more concerted assault on the increasingly competitive compact crossover market. Buyers will be able to choose between three trim levels, labeled LX, EX, and SX Turbo. The first two derive their power from a 2.4-liter four good for 181 horsepower and 175 pound-feet of torque, while the latter steps up to a 2.0-liter turbo kicking out a more prodigious 241 hp and 260 lb-ft. Both promise improved efficiency, and can be had in front- or all-wheel drive, but either way they transmit their power to the road through a six-speed automatic transmission. Pricing for each model is set to be announced closer to their arrival in showrooms sometime in the new year.