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Hyundai Motor heir Euisun Chung takes over from father after 20 years in waiting

SEOUL — Hyundai Motor Group appointed Euisun Chung as group chairman on Wednesday, cementing his succession from his octogenarian father in a move likely to give impetus to the world's fifth-largest automaker's push into electric vehicles and flying cars. In the first generational handover at the South Korean automobile giant in 20 years, Chung, 49, said he hoped to lead change at South Korea's second-biggest conglomerate as it battles to stay ahead of the pack in a time of rapid technological innovation in the global auto industry. "Carrying on their bold and innovative legacies, I feel privileged, yet also a sense of great responsibility for opening a new chapter of Hyundai Motor Group," Chung said in his inauguration speech to employees. Chung identified autonomous driving, electrification, hydrogen fuel cell, robotics and Urban Air Mobility (UAM) — industry jargon for flying cars — as his initiatives for the future. Hyundai Motor shares were trading up 0.3% after rising as much as 2.5% after the appointment, while the wider market was down 0.6%. Kia Motors and Hyundai Mobis fell 1.6% and 1.1%, respectively.   Legacies Hyundai Motor Group earlier on Wednesday said Chung had been promoted to chairman from executive vice chairman, replacing his father, Mong-Koo Chung, who was made honorary chairman. Key affiliates of Hyundai Motor Group, including Hyundai Motor, endorsed his inauguration unanimously. The appointment makes Chung the latest third-generation leader to take over one of South Korea's family-led conglomerates, which have been credited with lifting the war-stricken country out of poverty since the 1950s. His father took the wheel of the group in 2000 and transformed the company, once mocked for poor vehicle quality, into the world's No.5 automaker. The 82-year-old has been stepping back from frontline operations in recent years, and gave up his board seat in Hyundai Motor earlier this year. Euisun Chung has played an increasingly visible leadership role since September 2018 when he was promoted to executive vice chairman. Hyundai Motor Group invested $1.6 billion in a self-driving technology joint venture with U.S. Aptiv, forged a partnership with Uber on electric air taxis and invested in ride-hailing firm Grab. In July, Chung set a goal to win more than 10% of the global market for battery EVs by 2025.

Hyundai CEO touts new EV platform with mention of a pickup

A couple of years ago, one of the prominent concerns about a saturated EV auto-scape was how carmakers would accentuate brand differences among vehicles converging on a frightening sameness. The cars wouldn't make any noise, they would all emphasize aerodynamics, and they would all basically ride on a battery pancake. So far, the fears have been avoided; a Volvo XC40 Recharge won't be confused for a Ford Mustang Mach-E, for instance, and the Ford won't be confused for a Tesla Model Y. Not only that, but automakers are developing platform strategies that heighten the sameness among vehicle architectures because the architecture is where the expenditure and the profit are greatest. Hyundai's the latest to outline its plans for investors. And part of Hyundai's plan could include adding a full-size electric pickup to the range. The mid- to long-term roadmap is called the Hyundai Motor Way, recently revised with higher targets thanks to the swift uptick in EV sales globally. Business Korea wrote Hyundai Motor Group (HMG includes Kia and Genesis) sold 510,000 battery-electric vehicles in 2022. The conglomerate says it now plans to sell two million EVs annually by 2030, up from a previous estimate of 1.87 million.      The platform that will help make this possible is called eM, an evolution of the current Electric Global Modular Platform (e-GMP) platform under HMG's current EVs. The eM architecture's been rumored to launch under a Kia sedan that might be a spiritual successor to the Stinger. So far, eM is planned for 13 models across the HMG portfolio, using the Integrated Modular Architecture (IMA) that can plug-and-play with more than 80 common modules serving different vehicle segments and sizes. HMG president and CEO Jaehoon Chang said, "In the second-generation platform, the scope of vehicle development extends beyond the mid-sized SUVs covered by the current E-GMP system. It encompasses nearly all vehicle classes, ranging from small and large SUVs to pickup trucks, along with the flagship models of the Genesis brand." Sure, Chang could have been merely noting the eM's potential use cases when he mentioned "pickup trucks." That's not how observers are reading the line. At Kia's investor day last year, the brand said it planned two electric pickups. There have already been reports that Kia's working on a body-on-frame pickup for the Australian market, perhaps called Tasman, utilizing gas and electric powertrains.

Minivan Mania | Autoblog Podcast #675

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Green, John Beltz Snyder and West Coast Editor James Riswick, and this week, it's (almost) all about vans! James recently wrote a head-to-head comparison of the 2021 Toyota Sienna and 2021 Chrysler Pacifica Hybrid, and he talks us through the results. John recently reviewed the 2022 Kia Carnival, which is replacing the Kia Sedona. After discussing the minivan field as a whole, our editors identify some reasonable minivan alternatives in the SUV and crossover realms. Moving along, they talk about driving the long-term Hyundai Palisade and the new Mitsubishi Outlander before discussing their favorite highlights from the 2021 Shanghai Auto Show. Autoblog Podcast #675 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Minivans! 2021 Toyota Sienna vs 2021 Chrysler Pacifica Hybrid 2022 Kia Carnival The rest of the field Ute alternatives Cars we're driving 2022 Mitsubishi Outlander 2021 Hyundai Palisade road trip Shanghai Auto Show Lincoln Zephyr Toyota bZ4X Honda SUV e:prototype Feedback Email – Podcast@Autoblog.com Review the show on iTunes 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: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.