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Hyundai's Western designers want a Genesis supercar

Will Genesis build a supercar? The answer is that it could, eventually ... if the Hyundai Motor executives are convinced by the Western designers they've hired. Speaking with Peter Schreyer and Luc Donckerwolke at the New York Auto Show last week, Australia's CarAdvice reports that there is a desire within the company to create a supercar to cap the Genesis lineup, but that it might take a while. "It's still some time away, something like this," Schreyer told CarAdvice. "All these things take a little bit of time. We're just at the beginning and things like that, you know, we need to talk about and develop more." Donkerwolke seemed even more optimistic. "I won't reveal the secret now because it's still my baby! Obviously, yes, this is part of the interest of designing a brand, being able to create [supercars]. It's not just something which we'll do, let's say a rational traditional project, but there will be some highlights." The Hyundai N 2025 Vision Grand Turismo concept is shown above. Both Schreyer and Donkerwolke came to Hyundai from the Volkswagen Group. Schreyer now serves as one of three presidents at Kia and chief designer for the entire Hyundai portfolio. Donkerwolke recently joined him to run the premium design office for the Genesis brand, having designed the Lamborghini Gallardo, Murcielago, and Bentley EXP 10 Speed 6 concept, among others. Joining the likes of the Acura NSX, Lexus LFA, and Audi R8 may be a priority for the designers, but they'll like face a difficult task in convincing the bean-counters in Seoul to ever green-light such a project. "This is very difficult for them, the company is there to exist," said Schreyer. "It's a business." Related Video: Featured Gallery Hyundai N 2025 Vision Gran Turismo Concept: Frankfurt 2015 View 17 Photos News Source: CarAdviceImage Credit: Copyright 2016 Drew Phillips / AOL Design/Style Genesis Hyundai Supercars supercar

Hyundai spooks investors by paying $10B for new Gangnam HQ location

Doing things Gangnam style apparently costs a serious chunk of change, because Hyundai is reportedly paying roughly $10 billion for 19.6 acres (79,342 square meters) of land in the trendy district of Seoul, South Korea, to serve as the location for its new headquarters. That eye-popping number represents the highest amount ever paid for a plot of land in South Korea, according to Reuters. The hefty price tag reportedly scared investors enough for stock prices to sink dramatically.
Shareholders were apparently upset because the massive outlay could instead have been put back into the company for research and development or other improvements. Instead, the company reportedly bid triple the land's appraised value, says Reuters. The announcement caused Hyundai's stock price to plummet a massive 9 percent, and there were losses from Kia and the company's parts arm, as well. All told, the three of them lost nearly $8 billion in value from the falling share prices - almost enough to pay for the controversial land.
Hyundai currently has its headquarters on the outskirts of Seoul, but seems keen to move to the high-end Gangnam district to show off its rising status. It plans to build a new office complex, hotel, convention center and theme park on the site. According to an analyst speaking to Reuters, that could all cost an additional $6 billion to complete.

Hyundai Veloster facelift includes new 7-speed DCT, light cosmetics

Hyundai hasn't given the Veloster the exterior overhaul that we expected, but it has outfitted the quirky, oddly doored hatchback with some new tech, at least in the Korean market. The biggest change for the Veloster is confirmation that the previously rumored seven-speed dual-clutch gearbox will replace the current six-speed unit in the Turbo. It's mated to the same 1.6-liter, forced-induction four-cylinder featuring 201 horsepower and 195 pound-feet of torque. The exterior receives a few tiny tweaks, too, with new wheel designs and slightly different silver trim around the grille, but the bigger changes are found in the cabin. Those alterations aren't limited to new materials: Hyundai has included a new engine sound equalizer for the Veloster that lets drivers select from six different engine soundtracks. The instrument cluster also gets slightly altered, and there are new two-tone looks for the seats, as well. According to a blog post by Hyundai, the price for the Turbo with the seven-speed dual clutch starts at 23.7 million won ($22,000). Unfortunately, there's no official word whether these changes are going to make it across the Pacific to the US market. We've got an inquiry in with Hyundai Motor America, and will let you know if we hear more.