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Hyundai Motor's two R&D vice chairmen reportedly resigning
Tue, Dec 11 2018SEOUL — Hyundai Motor Group's two vice chairmen in charge of research and development have offered to resign, three people familiar with the matter told Reuters on Tuesday. R&D president Albert Biermann is likely to be named the new head of the division, two of the sources added, declining to be named as they are not authorized to speak to media. Hyundai is battling a plunge in sales, profits and its share price, and the reshuffle would be the latest since Hyundai promoted Euisun Chung in September to executive vice chairman, moving him closer to succeeding his octogenarian father as head of South Korea's second-largest group. The group has appointed new product strategy, design chiefs and replaced senior executives at its overseas operations, including China and the United States. The latest shake-up at the group, which includes Hyundai Motor and its affiliate Kia Motors, could be announced on Wednesday, one of the sources said. It is "part of a generational change Chung is pushing for," another person said. A Hyundai Motor spokesman declined to comment. The group's vice chairmen, Yang Woong-chul and Kwon Moon-sik, both aged 64, told senior officials on Tuesday that they would leave the company, the sources said, declining to say why they had offered to resign. Biermann, a former BMW performance vehicle development official, adds to a flurry of foreign executives that Chung, 48, has brought in to the company typically dominated by Koreans. In October, Thomas Schemera, also a former BMW executive, was appointed to lead product planning for autonomous cars, connected and electrified vehicles, while Luc Donckerwolke, a former Bentley design chief, was appointed to oversee design at Hyundai and Kia. Hyundai Motor's third-quarter net profit plunged by two-thirds, hit by U.S. recall costs that added to its problems. The automaker was already suffering with weak sales in its key U.S. and Chinese markets. Hyundai's share price is down more than 10 percent this quarter, despite a recent rebound driven by a share buyback plan announced on Nov. 30. Reporting by Hyunjoo JinRelated Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.
Hyundai i20 gets Active for Frankfurt
Thu, Sep 3 2015Hyundai has a raft of new debuts to showcase at the Frankfurt Motor Show this month, and what's caught our eye here is the new i20 Active. It's a more rugged version of the supermini hatchback that replaced the Getz in 2008. Now in its second generation, the i20 is already offered in three- and five-door guises, and is now expanding even further with the introduction of this pseudo-crossover soft-roader. The new Hyundai i20 Active is based on the five-door model, but offers the better part of an inch more ground clearance thanks to a revised suspension. It also benefits from skid plates under the front and back, beefed-up wheel arches, and a higher seating position. All of which promise to make the little hatchback feel just a little bit better prepared to venture off the beaten path – or at least the smooth pavement. European buyers will be able to choose between a 1.0-liter turbocharged three-cylinder engine in two states of tune that will now be introduced across the i20 range. The more efficient of the two produces 99 horsepower, while a slightly more potent version offers 118 hp. The new i20 Active will be featured on Hyundai's show stand alongside the new Santa Fe, the Vision G concept we saw in Monterey, and the N 2025 Vision Gran Turismo concept that's slated to launch the company's new N performance sub-brand. HYUNDAI MOTOR INTRODUCES TWO NEW MODELS TO YOUNGEST-EVER RANGE - New i20 Active and New Santa Fe enhance crossover and SUV range - New i40 introduces Android Auto in Europe - Vision G concept car shows inspiration for future premium products At the Frankfurt International Motor Show 2015 Hyundai Motor is showcasing the passion of its brand, with new models, visionary concept cars and innovative technologies. The New i20 Active and New Santa Fe both premiere on the Hyundai stand, joining the company's youngest-ever line-up in Europe, with all models being less than two years old. The Android Auto smartphone mirroring technology debuts in the New i40, placing Hyundai among the first in Europe to offer this feature. The company's passion for design is presented in the Vision G coupe concept car, making its motor show debut, offering a glimpse of Hyundai's design evolution and future premium products. Passion for performance is envisioned through the new Hyundai N sub-brand and exciting concept cars such as N 2025 Vision Gran Turismo.
2015 Hyundai Azera is refreshed, may still be on life support
Thu, Nov 20 2014What you see above is the 2015 Hyundai Azera. It's slightly refreshed for the new model year, with a new grille, lighting elements and fascia joining some newly standard technology bits inside the cabin. Other than those few updates, this is the same Azera we've known and loved since its most recent redesign for the 2012 model year. Thing is, we're not sure if the Azera will actually live past 2015 here in the United States. Hyundai has said that it still sees some space above the Sonata midsize sedan and its larger and more luxurious Genesis Sedan for a vehicle sized and priced like the Azera, but just hasn't been able to find many buyers who agree. Put simply, if you like what you see in the 2015 Azera, now would be a good time to mosey on over to your nearest Hyundai dealer to see if this fullsize sedan suits your specific needs better than competitors like the Chevy Impala, Toyota Avalon and Buick LaCrosse.