Hyundai Motor chief named automotive industry leader of 2023
Hyundai Motor Group Executive Chair Chung Euisun has been named the winner of the industry leader category in this year’s Automotive News All-Stars awards, the South Korean automaker said Monday.
“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.
“Hyundai Motor Group will accelerate positive changes in human development and continue to provide values exceeding customer expectations through 'smart mobility solutions' such as robotics, (artificial intelligence), (purpose-built vehicles), (software-defined vehicles) and (advanced air mobility).”
Established in the United States in 1925, Automotive News has selected and honored some 30 annual all-stars demonstrating exceptional contributions to progress and leading positive transformation in the global auto industry for 40 years. The award’s industry leader category recognizes top executives who have displayed extraordinary leadership and great impact on the auto industry.
“Hyundai Motor Group used to be known as a fast follower. The Korean carmaker didn't necessarily set trends or pioneer technologies, but it could quickly match the moves of rivals,” said Automotive News.
“These days, the massive motor group -- with its stable of Hyundai, Kia and Genesis brands -- has blossomed into an industry innovator. Under Executive Chair Euisun Chung, the juggernaut is putting the ‘new’ in new mobility with global leadership in a slew of tomorrow's technologies.”
Pointing out that Chung 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 underlined the Korean automaker’s $50 billion investment into developing new technology.
The US outlet emphasized that Chung has overseen the initial steps of the auto giant’s transition toward future smart, sustainable mobility as he led the carmaker's surge to the world's No. 3 automaker position in a few years since he took the helm in 2020.
“(Hyundai Motor Group) sales in the critical US market climbed 14 percent through October, outpacing the industry. And the upstart Genesis premium brand, the launch of which Chung led in 2015, saw its deliveries soar 25 percent through October,” said Automotive News.
“Genesis is now a formidable force in the upmarket segment, rapidly expanding sales, launching EVs, opening standalone stores and leading various quality rankings.”
The past recipients of the Automotive News All-Stars industry leader title include Ford Executive Chair Bill Ford in 2020, General Motors Chair and CEO Mary Barra in 2018 and then Fiat Chrysler Automobiles CEO Sergio Marchionne in 2014.
The Hyundai Motor chief has claimed a series of global honors in recent years as he was named MotorTrend "Person of the Year" in 2023 and "Visionary of the Year" at Newsweek’s World’s Greatest Auto Disruptors Awards 2022.