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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.

Kia K900 flagship to make advertising debut during Super Bowl

Kia is already solidifying its advertising plans for the 2014 Super Bowl, targeting a 30-second spot for its new, rear-drive K900 sedan during during the biggest football game of the year. The cost for this half-minute of air time? $4 million.
Of course, Kia is no stranger to advertising during the Super Bowl, with the Space Babies and Hot Bot ads of last year and the Mr. Sandman spot in 2012. But the stakes with the K900, which see the Korean brand attempting emulate its corporate cousin/bitter rival Hyundai, by moving into the rear-drive luxury space, are far, far greater. After all, Kia's previous Super Bowl ads were all for models in established segments - the K900 is an entering a realm the brand has never played in before.
The Super Bowl spot will be the first exposure to the K900 for many potential buyers, and considering that the South Korean brand is targeting conquest sales, according to the report from AdAge, it's important that it makes a good showing on such a large stage. As for the theme of the ad, there isn't much speculation from the execs this early in the game, according to AdAge. Looks like we'll be waiting until February to find out.

208k Kia Soul models recalled over broken pedals

Kia is recalling a whole bunch of Souls over accelerator pedals that may bend and fracture. A grand total of 208,858 vehicles are affected, all built between July 21, 2013 and January 8, 2015. Both the standard Soul and its EV counterpart are included in this recall. According to the National Highway Traffic Safety Administration, "If the vehicle has a bent or broken accelerator pedal, the driver may have difficulty accelerating the vehicle, increasing the risk of a crash." Sounds about right – a broken pedal under your right foot certainly can't be good. Kia will add supporting rubber underneath the pedal stopper in these affected vehicles. The Korean automaker will notify owners, and of course, the repair work will be performed free of charge. Look for this recall campaign to officially kick off later this month. NHTSA's official statement is below. Report Receipt Date: MAR 02, 2015 NHTSA Campaign Number: 15V123000 Component(s): VEHICLE SPEED CONTROL Potential Number of Units Affected: 208,858 Manufacturer: Kia Motors America SUMMARY: Kia Motors America (Kia) is recalling certain model year 2014-2015 Soul and Soul electric vehicles manufactured July 21, 2013, to January 8, 2015. A section of the accelerator pedal may bend and fracture. CONSEQUENCE: If the vehicle has a bent or broken accelerator pedal, the driver may have difficulty accelerating the vehicle, increasing the risk of a crash. REMEDY: Kia will notify owners, and dealers will add a supporting rubber underneath the pedal stopper, free of charge. The recall is expected to begin March 24, 2015. Owners may contact Kia customer service at 1-800-333-4542. Kia's number for this recall is SC116. NOTES: Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153), or go to www.safercar.gov. Related Video: