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Hyundai confirms a shift to EVs, unveils fuel cell SUV

SEOUL — Hyundai confirmed on Thursday it was placing electric vehicles at the center of its product strategy — one that includes plans for a premium long-distance electric car as it seeks to catch up to Tesla and other rivals. Like Toyota, Hyundai had initially championed fuel cell technology as the future of eco-friendly vehicles but has found itself shifting to electric as Tesla shot to prominence and battery-powered cars have gained government backing in China. Hyundai's debut of its more modestly priced Ionic hybrid and electric has been well-received. But the pure electric's per-charge driving range is much shorter than the Tesla Model 3 or Chevrolet Bolt. Toyota is now also working on longer-distance, fast-charging electric vehicles. Hyundai first started signaling this strategic shift back in May when it first discussed plans to launch an electric sedan under its high-end Genesis brand in 2021 with a range of 500 km (310 miles) per charge. It will also introduce an electric version of its Kona small crossover with a range of 390 km in the first half of next year. "We're strengthening our eco-friendly car strategy, centering on electric vehicles," Executive Vice President Lee Kwang-guk told a news conference, calling the technology mainstream and realistic. The automaker and affiliate Kia, which together rank fifth in global vehicle sales, also said they were adding three plug-in vehicles to their plans for eco-friendly cars, bringing the total to 31 models by 2020. Underscoring Hyundai's electric shift, those plans include eight battery-powered and two fuel-cell vehicles — a contrast to its 2014 announcement for 22 models, of which only two were slated to be battery-powered. Hyundai also confirmed a Reuters report that it is developing its first scaleable, dedicated electric vehicle platform, which will allow the company to produce multiple models with longer driving ranges. HYDROGEN SUV Hyundai unveiled a near production version of its new fuel cell SUV with a driving range of more than 580 km per charge, compared with the 415 km for its current Tucson fuel cell SUV. The mid-sized SUV will be launched in Korea early next year, followed by U.S. and European markets. A fuel cell electric bus is slated to be unveiled late this year, while a sedan-type fuel cell car is also planned. Even so, analysts noted that gaining traction with fuel cells was going to be a long hard slog partly due to a lack of charging infrastructure.

Hyundai Motor Group promotes heir apparent

SEOUL — Hyundai Motor Group promoted heir apparent Euisun Chung on Friday to a role of overseeing the conglomerate, moving him a step closer to succeeding his octogenarian father as head of South Korea's second largest group. Chung, 47, who will assist his father and group chairman Mong-Koo Chung, was appointed as executive vice chairman to respond to "deteriorating global trade issues and changes in competitive dynamics in major markets," Hyundai Motor Group said in a statement. Chaebols like Hyundai and Samsung Group, which have grown into global firms from the rubble of the 1950-1953 Korean War, are undergoing a transfer of power to third- or fourth-generation leaders. "In his new capacity, Executive Vice Chairman Euisun Chung will oversee the entire Group's operations, aiding and reporting to Chairman Mong-Koo Chung," the statement said. The appointment also comes as Hyundai battles tumbling profits, mounting pressure from activist shareholders to improve its governance, and amid South Korea's trade tensions with the United States that threaten to disrupt its production plans. "This is a good sign," Park Yoo-kyung, a director at Dutch pension fund APG Asset Management, said of the appointment. "This will enhance transparency about who is controlling the group and who is making key strategic decisions," she said. Generational shift The junior Chung, currently vice chairman of the group's crown jewel, Hyundai Motor Co, has stepped up in recent years, attending motor shows and government meetings with business leaders on behalf of his 80-year-old father who has made few public appearances. Shares in Hyundai Motor ended up 0.8 percent on Friday, and affiliate Kia Motors fell 0.3 percent in a wider market that rose 1.4 percent. Chairman Chung, the all-powerful boss, has presided over Hyundai for about two decades, transforming the company into the world's fifth-biggest car maker along with Kia Motors. Hyundai is now struggling to reverse slowing sales in China and the United States, where the company has suffered due to its delayed response to booming demand for SUVs. The appointment is part of an effort to "improve future competitiveness and secure future growth engines" at a time when the auto industry is undergoing major changes, the group said. The junior Chung has led the group's efforts to develop future vehicles such as autonomous and connected cars, as well as Hyundai's fledging premium brand Genesis.

Hyundai reveals new Creta crossover in India

It's been less than a month since Hyundai told us to start anticipating the arrival of the new Creta, and even less time since it released the first teaser sketch. Now the Korean automaker has taken the wraps off the finished product. Unveiled over the weekend in India, the new Hyundai Creta applies the company's latest design language to a smaller crossover form. Full details have still yet to be released, but those body panels are laid over a structure the manufacturer calls Hive. It makes use of a high proportion of high-strength steel to keep the chassis rigid yet lightweight. Powertrain options – for the Indian market anyway – include a 1.6-liter four with 121 horsepower or a choice of diesels with as much as 126 hp. Hardly earth-shattering stuff, but short of more potent turbocharged offerings, those engines ought to make it perfectly competitive with the company it intends to keep. Relative output and fuel choices aside, the engines channel their power through a six-speed manual or automatic transmission, though there's no mention as of yet of the availability of all-wheel drive. We'll have to wait for a release with a wider purview to find out more. At this point Hyundai isn't showing us around the interior, either, but you can scope out what images have been released thus far in the slideshow above. It'll be a while longer before anyone can determine whether it'll prove a worthwhile competitor to the likes of the Nissan Juke, Jeep Renegade, and Honda HR-V, to name just a few likely rivals. With fellow Korean automaker SsangYong eager to make its mark with the similarly compact Tivoli as well, the Creta will have quite a fight on its hands. Hyundai Showcases the Global SUV- CRETA No. 1512015-06-278 hit • Strong structural strength with adoption of Hive body structure • Stable & confident ride & handling for ultimate driving experience • Powerful engine options with first in segment Diesel Automatic Transmission Chennai, 27 June 2015- Hyundai Motor India Ltd, the country's leading premium car manufacturer and the largest passenger car exporter today, unveiled India's most awaited stylish, powerful and dynamic SUV - 'CRETA'. The CRETA marks Hyundai's entry in growing SUV segment with strong product offering boosting Hyundai's product line up to a robust 10 product portfolio.