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Hyundai Motor reassigns 17 top execs to make way for fresh ideas

SEOUL — South Korean conglomerate Hyundai Motor Group shook up its executive ranks on Tuesday and appointed its first foreign head of research and development, raising expectations of a smooth transition of power at the family-run business empire. The reshuffle, first reported by Reuters on Tuesday and confirmed by Hyundai on Wednesday, is part of preparations for generational change in the executive ranks at South Korea's second-largest family-owned business empire. Group President Albert Biermann, a German former BMW executive, was named head of research and development, replacing longtime executives Yang Woong-chul and Kwon Moon-sik. The move was seen as a significant step to bring in fresh ideas at the Korean-dominated group. In all, 17 top executives were reassigned across the group including at Hyundai Motor Co and Kia Motors Corp — which together form the fifth-biggest automaker in the world. The move follows the promotion of Euisun Chung in September to Hyundai Motor's executive vice chairman, moving him closer to succeeding his 80-year-old father, Mong-Koo Chung, as group chairman. It comes as Hyundai Motor Co battles to reverse falling profits as a result of U.S. recall costs and weak sales in the U.S. and Chinese markets. Hyundai Motor Co shares jumped as much as 9 percent to their highest level since Oct. 10, while shares in affiliates like Hyundai Mobis, Hyundai Wia and Hyundai Glovis also rallied. While the announcement by Hyundai on Tuesday of a major investment in fuel cell production also lifted sentiment, analysts said most of the share price rise could be attributed to the leadership changes. In particular, it signaled that the junior Chung was making progress with his plans to restructure the sprawling group after a previous plan was scrapped due to opposition from U.S. hedge fund Elliott. "The reshuffle signals that the junior Chung is tightening his grip on the conglomerate, a move which raises investors' hopes for change," said Kim Joon-sung, an analyst at Meritz Securities. Ascendance of outsiders In a sign that Chairman Chung's grip may be weakening, one of his closest lieutenants, Hyundai Motor Co Vice Chairman Kim Yong-hwan, was reassigned away from the core automaker and named vice chairman of steelmaking affiliate Hyundai Steel.

Hyundai and Turin IED collaborate on Kite buggy concept for Geneva

The last time Hyundai's European Design Center collaborated with Turin, Italy's Instituto Europeo di Design (IED), we got the PassoCorto concept in 2014. That four-year-old vision made an appearance in recent news feeds, as a potential harbinger of a mid-engine Hyundai sports car when the Theta II engine arrives. The Korean carmaker is at it again with IED, and this time the two have worked up a doorles, roofless, windowless buggy referred to as the Kite concept, planned for display at next month's Geneva Motor Show. The full-sized scale model measures 12.2 feet long, 7.3 feet wide, and 4.7 feet high — that's about four inches shorter and one inch taller than a Mini Cooper, but 20 inches wider. Being a model, the Kite won't be fitted with any powertrain, but the students behind the project envision one brushless electric motor on propulsion duty. This is the first of IED's previous 14 automaker collaborations to have an interior, so the 15 students from nine countries who worked on the project did their homework, tapping Gruppo Sila for the shift-by-wire gearbox, and Sabelt for the seat and seatbelts. Guests to the stand will be able to experience the Kite concept through virtual reality, while the whiz-bang gearbox gets shown in a separate, dedicated area. The design school's annual project serves as the thesis project for the Masters in Transportation Design program. Last year's offering, the Scilla concept prepared with Pininfarina, was a 180-degree departure from the Kite, but the students spent time off-road recently with their McLaren crossover concepts of 2010. If you're smitten with this year's product, you won't be able to buy it, but Hyundai does sell an actual kite. Related Video: Featured Gallery Hyundai Kite Concept News Source: Car Body Design via Carscoops Design/Style Green Geneva Motor Show Hyundai Concept Cars Electric Off-Road Vehicles 2018 Geneva Motor Show

Driving Civic and Elantra Hybrids, and big Ford Maverick updates | Autoblog Podcast #842

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Road Test Editor Zac Palmer. They discuss the week in car news first, leading off with the updated 2025 Ford Maverick that adds a Lobo sport truck variant and an AWD hybrid. Next, they chat some Cadillac news with the reveal of the stunning Sollei convertible concept and the refreshed 2025 Escalade. After the news, the two focus on what they've been driving over the past couple of weeks. They start with the Fiat 500e, then move along to a comparison between the refreshed Hyundai Elantra Hybrid and totally-new Honda Civic Hybrid. Lastly, there's a discussion of the new Infiniti QX80 and the STI mods applied to our long-term Subaru WRX. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #842 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown News 2025 Ford Maverick Lobo 2025 Ford Maverick adds AWD hybrid version Cadillac Sollei revealed 2025 Cadillac Escalade refresh What we're driving 2024 Fiat 500e 2025 Honda Civic Hybrid 2024 Hyundai Elantra Hybrid 2025 Infiniti QX80 Long-Term 2023 Subaru WRX Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related Video:  Cadillac Sollei is an electric convertible concept This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.