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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.

Electric Hyundai Kona crossover to have Bolt-beating 292-mile range

An all-electric Hyundai Kona will be revealed at the Geneva Motor Show next month, but we already know a few intriguing details about the electric version of the subcompact SUV we've had a brief chance to drive. According to Hyundai's press release, the Kona EV will be available with two powertrain choices, including "one of the most powerful electric engines on the market with a class-leading range of almost 470 kilometers." That would be 292 miles. That's using the WLTP standard, or Worldwide harmonized Light vehicles Test Procedures, which currently lists the Chevrolet Bolt as achieving 240 miles of range (versus 238 with the EPA). In other words, the electric Kona could be the new non-Tesla range king — the Model 3 Long-Range model is rated at an EPA-estimated 310 miles, and the Model S 100D is at 335. By comparison, the Hyundai Ioniq Electric is rated at only 124 miles. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. It is important to note, however, that this release was from Hyundai of Europe, so we cannot confirm that we'll be getting an electric Kona in the United States. Given those potential range figures and the popularity of SUVs, it would be surprising if we didn't. We'll know more when more details are announced Feb. 27 ahead of its Geneva unveil the following week. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Green Geneva Motor Show Hyundai Crossover SUV Electric Future Vehicles 2018 Geneva Motor Show hyundai kona

2016 Hyundai Veloster Turbo Rally Edition Quick Spin [w/video]

Our year-long test of the Hyundai Veloster Turbo was a mixed experience. There were plenty of not-very-nice anecdotes about the blown Hyundai – at one point, our own Managing Editor Steve Ewing suggested we "stop thinking of the Veloster Turbo as a proper hot hatch," and Senior Editor Seyth Miersma said it was a car that "doesn't feel especially hot-hatchy." We felt this way despite the car's overt hot-hatch trappings: the red turbo badging, matte-gray paint, upgraded body kit, huge center-exit exhaust pipes, and sticky Michelin tires. Our reaction to this Rally Edition was lukewarm when it debuted earlier this year at the Chicago Auto Show. You can imagine, then, our trepidation with the arrival of the matte blue tester. As it turned out, a week behind the wheel proved that Hyundai has addressed a number of the complaints we lodged during our prior year-long Veloster test. Driving Notes There was only so much Hyundai could do to the Veloster during this year's mid-cycle refresh. That means the 1.6-liter, turbocharged four-cylinder is still there, writing checks its performance can't cash. We still get 201 horsepower and 195 pound-feet of torque, the latter of which is available between 1,750 and 4,500 rpm. Despite the generous torque spread, there's no sense of urgency with this engine. Pair that with the still persistent turbo lag, and the Veloster Turbo feels slower from behind the wheel than other hot hatches, even less powerful competitors like the Fiat 500 Abarth. There were a number of complaints about our Veloster Turbo's fuel economy during our year behind the wheel. At 24 miles per gallon, this Rally Edition managed to come in just under the EPA-estimated 25-mpg city rating, improving measurably on the less than 22 mpg Senior Editor Miersma returned in his long-term wrap-up. Still, we were four mpg below the 28-mpg combined rating in what was largely mixed driving. Aside from the unchanged powertrain, the Rally Edition brings a lot to the Veloster Turbo package worth liking. The inclusion of a B&M Racing short-throw shifter makes this gearbox not only easier but also far more enjoyable to manipulate, although the gearing is still too tall for our taste. The shift knob is just the right size, and the shift action feels rifle-bolt precise. It is delightful, aside from an annoying, almost inexcusable flaw, which you can see in the video below.