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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.

Autoblog Minute: Krafcik CEO of Google autonomous vehicle division

We look at how Google's hiring of automotive executing John Krafcik could affect the future of autonomous vehicles. Autoblog's Mylencia Gillenwaters reports on this edition of Autoblog Minute. Show full video transcript text [00:00:00] We look at how Google's hiring of automotive executing John Krafcik could affect the future of autonomous vehicles. I'm Mylencia Gillenwaters and this is your Autoblog Minute. Krafcik, a veteran of the auto industry, arrives at Google after serving as CEO of Hyundai and TrueCar. For more on what the Krafcik hire could mean to the industry, we go to Autoblog's Pete Bigelow: [00:00:30] [Pete Bigelow Interview] Google has [00:01:00] an outspoken champion for autonomous driving, in Krafcik who isn't shy about taking to social media to share his thoughts. Krafcik and Google seem poised to move self-driving cars into the next phase of development and it will be interesting to follow along as the tech giant [00:01:30] attempts to change the way we get around. For Autoblog, I'm Mylencia Gillenwaters. Autoblog Minute is a short-form video news series reporting on all things automotive. Each segment offers a quick and clear picture of what's happening in the automotive industry from the perspective of Autoblog's expert editorial staff, auto executives, and industry professionals. Ford Hyundai Autonomous Vehicles Autoblog Minute Videos Original Video john krafcik google autonomous vehicles

2018 Hyundai Ioniq Plug-In Hybrid costs $26,000, goes 29 miles on electricity

The Hyundai Ioniq hybrid and Ioniq Electric were two of the more pleasant surprises of 2017. Besides their lofty fuel economy and useful electric range, respectively, they boasted reasonable pricing, a useful interior and shockingly buttoned down handling. They could almost be deemed fun to drive. Yet, there was a missing member of the family for 2017. While we always knew a plug-in hybrid would be added — it was with its siblings when the Ioniq was introduced at the 2016 New York Auto Show, and we drove a prototype earlier this year — it wouldn't be until year 2 when the production car would show its face. And although that face is shared with the Ioniq Hybrid rather than the Electric, the 2018 Hyundai Ioniq Plug-in Hybrid obviously has its own set of facts and figures that have now been revealed. Chief among them is a 29-mile all-electric driving range, which, when depleted, effectively turns the Ioniq Plug-in into a regular hybrid capable of 52 mpg combined. It has a 119 MPGe estimate, for whatever that's worth. To put all those numbers into perspective, there's the Toyota Prius Prime (25 miles, 54 mpg combined, 133 MPGe), the Honda Clarity Plug-in Hybrid (48 miles, 42 mpg combined, 110 MPGe), Chevrolet Volt (53 miles, 42 mpg combined, 106 MPGe), and the Ioniq's mechanical sibling, the Kia Niro Plug-In Hybrid (26 miles, 46 mpg combined, 105 MPGe). Pricing for the Ioniq Plug-in Hybrid starts at $25,835, including destination. The Limited trim level starts at $29,185. By comparison, the regular Ioniq Hybrid starts at $22,200 for its Blue trim and goes up to $27,550 for the Limited trim. However, keep in mind that the Plug-in Hybrid is subject to a $4,500 federal tax rebate plus whatever your particular state doles out. As such, the Plug-in Hybrid is effectively cheaper. That's also the case with the Toyota Prius Prime relative to the regular Prius. However, the Prime starts at just north of $27,995 (including destination). A regular Prius' base price is also only about $1,500 lower than the Ioniq Hybrid. In other words, the Plug-in Hybrid seems like a screaming bargain ... and if its siblings are any indication, it'll be a pretty appealing car, too. Other updates for the 2018 Ioniq lineup include paddle shifters added to the Hybrid (yay?), lane keeping assist added when lane departure warning is specified, and the availability of red paint for the Hybrid.