2001 Hyundai Santa Fe Lx 4wd Auto V6 on 2040-cars

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Hyundai shutters engine development in shift to electric and hydrogen vehicles

Hyundai is quickly pivoting into an era of electric vehicles. Shortly after announcing it would halve the number of internal combustion models, it launched its first EV on its dedicated Electric Global Modular Platform (E-GMP), the supremely enjoyable Ioniq 5. Now, as The Korea Economic Daily reports, Hyundai Motor Group, which includes sister brand Kia and luxury brand Genesis, has closed its engine development division at its research and development center in South Korea to put those resources into electric powertrain development. According to the report, researchers from engine design are moving to its electrification design center, but a few remain behind to continue to refine existing internal combustion engines. The powertrain system development center will become an electrification test center, and the performance division will focus on electric performance. The group has also established a battery development center, and the R&D Center will also focus on raw materials for batteries and semiconductors. In an email, R&D boss Park Chung-Kook told employees, “Now, it is inevitable to convert into electrification. Our own engine development is a great achievement, but we must change the system to create future innovation based on the great asset from the past.” Hyundai Motor Group is targeting one million EVs a year by 2025, and full electrification by the year 2040. In addition to the newly launched Ioniq 5, Hyundai is planning to launch the Ioniq 6 EV, based on the stunning Prophecy concept, in 2022, and weÂ’ve already seen spy shots of that prototype in testing. That will be followed by the full-size Ioniq 7 SUV in 2024, which was recently previewed by the Seven Concept at the 2021 L.A. Auto Show. Kia is set to launch the EV6 in 2022, and Genesis recently revealed the GV60 electric crossover, both of which will use HyundaiÂ’s E-GMP architecture. Genesis also recently revealed an electric version of the GV70 crossover in China. Of course, Hyundai is also invested in hydrogen fuel cell vehicles, both commercial vehicles like its Xcient trucks, and passenger cars like the Nexo and the recently revealed Vision FK concept. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Genesis cars win accolades, offer value — so why are sales so bad?

My high-school buddy Brent Cormier was so smitten with the Genesis G80 when he saw it at an event I hosted at SXSW in 2016 he bought a used 2013 Hyundai Genesis a short time later and fell in love with the car. "It surpasses my every expectation," said Cormier, a self-described "renaissance man" who owns and runs a real estate agency with his wife Laura, is a food service executive chef and part owner of Austin-based Thin the Herd Guitars. "I was locked into Mercedes and Audi for 10 years," he added. "And felt trapped in an endless pit of maintenance costs." After owning the Genesis over the past two years — including using it as an Uber and Lyft driver to earn extra cash — Cormier learned what some frugal luxury sedan buyers and a handful of car reviewers have discovered: Genesis offers great bang for the buck compared to other premium brands and can compete with the best in terms of performance, features and comfort. Hyundai's luxury brand also earned a prominent third-party endorsement last week when for the first time Genesis topped J.D. Power's 2018 APEAL study, surpassing German luxury-performance icon Porsche. The APEAL study (which stands for Automotive Performance, Execution and Layout) "measures owners' emotional attachment and level of excitement across 77 attributes," ranging from performance to comfort, and asks nearly 68,000 owners of new 2018 models to score vehicles on a 1,000-point scale. In its second year ranked as a stand-alone brand, Genesis earned an APEAL score that bumped it up 15 points to 884 and helped push it past Porsche — and past BMW, Lincoln, Mercedes-Benz, Audi, Volvo, Cadillac, Land Rover and Lexus, in order of ranking. Last month, Genesis also topped J.D. Power's Initial Quality Survey (IQS) for the first time this year. And both its models were awarded Top Safety Pick Plus ratings by the Insurance Institute for Highway Safety, among 11 Plus ratings in all for Korean vehicles. Despite high J.D. Power rankings and great reviews, Genesis U.S. sales were off 50 percent for the first six months of 2018 compared to 2017, and in June Genesis sold only 796 vehicles — the first time U.S. numbers dropped below 1,000 in a month. Part of Genesis's APEAL and IQS success can be attributed to its small product lineup: just two models, the G80 and G90 sedans, with a third, the 2019 G70, launching later this year. And while those numbers may help in J.D.

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