Hyundai Motor Group’s Executive Chairman Chung Euisun is firming his reputation as a leader in the global auto industry as he is once again recognized for transforming the South Korean auto giant into a trendsetter from a fast follower, this time by Automotive News.
The US prestigious automotive industry magazine announced on Sunday that it has tapped Chung as its Industry Leader of the Year among Automotive News’ 2023 All-Stars for “his vision and pivot toward the future.”
“Under Executive Chair Euisun Chung, the juggernaut is putting the ‘new’ in new mobility with global leadership in a slew of tomorrow's technologies,” Automotive News said.
“Chung, 53, is putting the world's third-largest auto group on the map for electric vehicles and hydrogen power, in addition to luxury cars and purpose-built vehicles for fleets of future pod cars.”
Automotive News’ Industry Leader of the Year is awarded to whom it deems to top its 38 All-Star leaders picked for this year, the leading executive in the global automotive industry.
“Throw in advanced robotics, artificial intelligence and urban air mobility for good measure ... His concepts are bold, futuristic and abstract,” said the magazine, noting the auto group’s plan to pour some $50 billion into new technologies this decade.
Hyundai Motor Group Executive Chairman Chung Euisun, on right (Courtesy of Hyundai Motor) Hyundai Motor is already a leader in hydrogen fuel-cell vehicle technology.
“This award is in recognition of the entire Hyundai Motor Group family and partners all around the world who have worked so hard and devoted themselves to making sure that we achieve our vision of smart, sustainable mobility and progress for humanity,” Chung said upon receiving Automotive News' award.
BOLD EV PUSH AND GLOBAL NO. 3
Chung is also credited with having helped Hyundai Motor Group make a quick and successful electrification transition.
Hyundai Motor Co. plans to ship 2 million electric vehicles across the world by 2030, and its sibling Kia Corp. expects its global EV sales to climb to 1 million in 2026 with a target of 1.6 million in 2030.
By 2030, both brands are expected to see their EV share reach around one-third of their total production and sales.
Hyundai Motor’s development of the EV-dedicated platform Electric-Global Modular Platform (E-GMP) is behind the success of the group’s EVs.
(Courtesy of Hyundai Motor) The group’s luxury marque Genesis, which was launched under Chung’s direction in 2015, has also ascended to become a “formidable” player in the global upmarket segment, according to Automotive News.
Hyundai Motor Group with its three auto brands now the world’s third-biggest auto group.
