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Hyundai Motor's two R&D vice chairmen reportedly resigning

SEOUL — 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.

Next-gen Hyundai Equus spotted horsing around in desert

The last time we showed you the next-generation Hyundai Equus, the northern hemisphere was in the depths of winter and the big luxury sedan was testing above the Arctic Circle. Now, as we're approaching the end of summer, the South Korean company is rather fittingly conducting hot weather testing in the American southwest. As with our last look at the Equus, today's images show a heavily camouflaged car. Said camo, which includes both coverings and more form-fitting stickers, can't hide the overall size of this vehicle. It's a big'un, especially behind the B-pillar. From what we can see through the front camouflage, the Equus should draw some inspiration from the Vision G concept. In short, expect a sportier, more assertive look than what's currently offered on Hyundai's flagship. This particular car is allegedly fitted with a version of the company's Tau 5.0-liter V8, which serves in both the current Equus and the smaller Genesis sedan. It's paired with a ten-speed automatic – yes, ten forward gears... on a car – while our spies reiterated previous reports that a new turbocharged V6 would also be on offer. Importantly, this latest gallery of spy photos gives us our first look at the new Equus' cabin. Again, there's heavy camouflage here, but we can get a look at the handsome leatherwork on the two-tone steering wheel and the stylish silver hue of the HVAC buttons. It also looks like Hyundai will retain a knob-and-button-style controller for the infotainment system, which will be housed in an expansive display at the tip top of the dash. Look for the next-generation Equus to make its debut some time in 2016 as a 2017 model. Related Video:

A brief taste of Korea's latest dish | 2018 Hyundai Kona

Disclaimer: We were limited to a short 10-minute drive at Hyundai's research and development facility in Namyang, about a 90-minute drive from the South Korean Capital of Seoul. The closed loop didn't provide much in the way of road variation, and we reached a blistering top speed of 45 mph with all of three opportunities to use the brakes. The Kona we drove was a Korean-spec model. Suspension and steering tuning will be adjusted for the US, though we couldn't get a clear answer on what sort of changes that entails. Expect the US model to be a bit softer than what the Koreans and the Europeans will see, though we'll have to wait until a full first drive to be sure. Hyundai has been on a roll lately, releasing a series of solid if not exactly groundbreaking products, though until now they company was missing an entry into the ever-burgeoning B-segment crossover. For several years, compacts like the Honda HR-V and Mazda CX-3 have ruled the class, but Hyundai is going all-in on crossovers, with several new models on the horizon. The first one out of the gate is the Kona. In the next few years, we'll see a model that slots below the Kona and a large SUV that will sit above the Santa Fe. We got our first look at the new model at Hyundai's new Motorstudio, a place that's half interactive museum and half high-end conference space. The Kona's styling, a mix of original and derivative design elements, is sure to be divisive. The most standout feature is the plastic cladding that comes in either black or grey, depending on the body color. Hyundai is calling it armor. We just hope it's affordable to replace. The front wears Hyundai's cascading grille, an element that's making it's way across the automaker's lineup. It's flanked by what Hyundai is calling is calling composite headlights. It's a split design that places the slit-like turn signals above and separate from the actual headlights. It looks very similar to the current Jeep Cherokee, odd considering the controversy that model caused a few years ago. There's also a bit of Nissan Juke in there, though substantially toned down. You best get used to it, though, as design chief Luc Donckerwolke says it's the new face of the brand. Expect to see some variation making its way across the automaker's lineup. Not so with the rest of the Kona, as Donckerwolke said each model will get unique elements only found on that particular car. For the Kona, it's the armor.