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Hyundai promoting younger execs in bid to 'smoothen an eventual leadership succession'

Experience versus the next generation. It's the decision any organization has to make when it comes to its succession of leadership. But even companies that value wisdom over vitality will eventually have to hand the reins to a new generation of leaders. And that seems to be what the Hyundai Motor Group is preparing for. The Korean automaker has promoted three executives in their early 50s to the rank of Executive Vice President. Chief marketing officer Cho Won-hong (50), PR chief Kong Young-woon (50) and Kim Gyun (52), head of strategic planning at Kia, are all being promoted to the role, putting them in senior leadership positions at one of the world's largest automakers. Reuters frames the promotions as earmarked to "smoothen an eventual leadership succession" at Hyundai. The family-owned company is currently chaired by Chung Mong-koo (76), who has given little indication that he's preparing to step down in the near future. But when he does, he's widely expected to relinquish control to his only son, current vice-chairman and former Kia president Chung Eui-sun (44, pictured), who is said to have chosen the aforementioned US-educated Cho for the promotion. News Source: ReutersImage Credit: SAMUEL KUBANI/AFP/Getty Hirings/Firings/Layoffs Hyundai Kia

Recharge Wrap-up: Peugeot eF01 folding e-bike, Australia orders Hyundai FCEVs

Australia has ordered 20 hydrogen powered vehicles from Hyundai. The Australian Capital Territory Government in Canberra will take delivery of the fleet of Hyundai's next-generation fuel cell vehicles (set to replace the Tucson Fuel Cell in 2018) for its Renewable Transport Fuels Test Berth project. As part of the program, the vehicles will be powered by hydrogen made with a Siemens Silyzer System with electricity from Hornsdale Wind Farm in South Australia. The Siemens refueler is capable of powering over 1, 000 fuel cell vehicles each averaging 14,000 miles per year. Read more from Hyundai. Peugeot has unveiled its eF01 electrically assisted folding bike. Meant to facilitate multimodal travel, Peugeot's eF01 folds up quickly to be thrown in the trunk of a car, carried on public transport, or wheeled in its folded position while walking. It's a little hefty, at 37 pounds, but its compactness helps make up for that. It can be charged in the cargo area of any vehicle with a 12-volt outlet, so it's ready to provide 18 miles of electric assistance at speeds of up to 12 mph. It can also communicate with a smartphone via Bluetooth to show current charge and range. Read more from Peugeot. A123 Systems will collaborate with Argonne National Laboratory to create safe, better performing lithium-ion batteries. The partners will focus on cathode technology in order to increase energy density and durability in order to improve the driving range of electric vehicles. A123 expects to increase energy density and range by more than 60 percent over its current offerings. "Working with Argonne will further advance our already strong presence in plug-in vehicles and support the increasing market demand globally," says A123 Systems CEO Jason Forcier. "We look forward to expanding our customer base as we offer increasingly greater range to our plug-in vehicle programs without compromising on the life and safety performance that the market has come to expect from A123." Read more in A123's press release. Featured Gallery Peugeot eF01 Folding E-Bike Related Gallery 2015 Hyundai Tucson Fuel Cell: LA 2013 View 19 Photos News Source: Hyundai, Peugeot, A123 Systems Green Hyundai Peugeot Alternative Fuels Bikes Electric Hydrogen Cars recharge wrapup

Hyundai pickup truck sounding more likely

Hyundai looks poised to get into the pickup market, according to the latest report from Automotive News. The Korean automaker revealed the Santa Cruz concept at the Detroit Auto Show this past January, previewing a vehicle that combines the best attributes of a pickup truck with those of a small crossover – sort of like a Honda Ridgeline, but smaller. It's an idea whose time has come, says Hyundai's US chief Dave Zuchowski. "We're assuming that it's going to get done," he told AN. "It's just not officially done yet." He expects it to be approved sometime within the next decade, and when it does enter production, Zuchowski said it could emerge as the first diesel-powered Hyundai offered in America. The biggest challenge, however, may not lie in convincing the head office in Seoul to give it the green light. The company's plant in Montgomery, AL, is strained enough producing the Sonata, Elantra and Santa Fe. In order to produce the pickup as well, Hyundai would need to either expand the current plant or build a new one.