2010 Hyundai Genesis 4.6 Sedan 4-door 4.6l on 2040-cars

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Hyundai and Rhys Millen reunite, will return to Pikes Peak with new RWD racer, Genesis Coupe

Last September, Hyundai confirmed that it was exiting all of its motorsports programs in North America. That left Rhys Millen Racing without a title sponsor for its Formula Drift and Global RallyCross Championship series challengers. It also looked to have meant the end of a partnership that last year resulted in a record-setting run at Pikes Peak when Rhys Millen established the new benchmark for a run up the Colorado mountain in a production-based race car.
Hyundai clarified that September report by saying it was "reconsidering our continued involvement in Pikes Peak International Hill Climb, having achieved the world record in a Hyundai Genesis Coupe this year." The return is official, with Hyundai saying it is going back to the peak with Millen and two cars, one of them a "purpose-built unlimited class rear-drive," the other being the Hyundai Genesis Coupe-based racer that set last year's record in the time attack two-wheel-drive class.
Hyundai wants to show off the strength of its engineering, so the unlimited car will have something like 900 horsepower and 800 pound-feet of torque while using the production block, cylinder heads, bearings and accessories of its Lambda V6 engine. You can read more about the effort in the press release below, and click the image above for an enlarged view of what's coming.

Hyundai spooks investors by paying $10B for new Gangnam HQ location

Doing things Gangnam style apparently costs a serious chunk of change, because Hyundai is reportedly paying roughly $10 billion for 19.6 acres (79,342 square meters) of land in the trendy district of Seoul, South Korea, to serve as the location for its new headquarters. That eye-popping number represents the highest amount ever paid for a plot of land in South Korea, according to Reuters. The hefty price tag reportedly scared investors enough for stock prices to sink dramatically.
Shareholders were apparently upset because the massive outlay could instead have been put back into the company for research and development or other improvements. Instead, the company reportedly bid triple the land's appraised value, says Reuters. The announcement caused Hyundai's stock price to plummet a massive 9 percent, and there were losses from Kia and the company's parts arm, as well. All told, the three of them lost nearly $8 billion in value from the falling share prices - almost enough to pay for the controversial land.
Hyundai currently has its headquarters on the outskirts of Seoul, but seems keen to move to the high-end Gangnam district to show off its rising status. It plans to build a new office complex, hotel, convention center and theme park on the site. According to an analyst speaking to Reuters, that could all cost an additional $6 billion to complete.

Hyundai will launch Genesis brand in December

Hyundai is about to go global with a new, high-end sub-brand called Genesis. Rumors of this spinoff have been swirling for years, but an announcement Tuesday confirms that the Genesis brand will launch in December of this year. "To elevate and differentiate the Genesis brand from Hyundai, a distinct design identity, emblem, naming structure, and customer service offering is being established," the automaker said in a statement. A Korean report states that Genesis will kick off with a new version of the Equus, set to launch next month, called G90. The rest of the lineup will follow suit with that naming structure (Infiniti isn't using it anymore, after all). The Genesis sedan as we know it will be called G80, and a new midsize model will be G70. A luxury SUV and sport coupe will round out the range, and all six models will launch by 2020. The rear-wheel-drive, midsize sedan is expected to debut in the second half of 2017. In order to properly create an identity of its own, Hyundai is creating the Prestige Design Division. Beginning in mid-2016, this group will be lead by Luc Donckerwolke, who was formerly responsible for design at several Volkswagen Group brands, including Audi, Bentley, Lamborghini, Seat, and Skoda. Hyundai Motor Group's chief design officer, Peter Schreyer, will oversee the work of Donckerwolke's new division. Genesis will initially launch in North America, China, Korea, and the Middle East. Hyundai says it will expand to Europe and other parts of Asia as Genesis grows. "The Genesis models will provide technological innovation, excellent driving performance and luxury to customers. Every Genesis model will be created with the needs of our customers in mind, so the resulting car will perfectly meet their needs without any unnecessary burden or excess," said Woong-Chul Yang, vice chairman of Hyundai Motor. Hyundai's full announcement can be found here, or in the press release below.