Hyundai Unveils Its Premium Segment SUV Genesis GV80 and Flying Taxi

UTC by Bhushan Akolkar · 3 min read
Hyundai Unveils Its Premium Segment SUV Genesis GV80 and Flying Taxi
Photo: The Genesis GV80

South Korean automobile giant is making big moves in the premium SUV segment. It is also considering a potential market in the flying taxi industry and has collaborated with Uber in this space.

South Korean automobile giant Hyundai has recently unveiled its new premium segment SUV called the Genesis GV80. This is the first sports utility vehicle from Hyundai from its Genesis collection. According to reports, Genesis will directly compete with the like of Lexus, Porsche, and BMW operating in this segment.

Moreover, the design looks quite bold and distinct and comes with the collaborative efforts from Genesis’ Korea, Europe, and the U.S. office. The GV80 also hosts some premium features inside like a completely digital instrument cluster and a 14.5-inch infotainment system.

Additionally, the driver and co-driver seats will have access to other smart systems near them. It will feature an augmented reality navigation system along with other smart features and applications available in modern vehicles. The GV80 also comes with a Genesis Integrated Controller featuring a handwriting recognition system.

Another system at the front panel will monitor driver activity and immediately issue a warning if the driver is inattentive or drowsy. The premium SUV comes with a built-in noise-canceling system that can monitor road noise in real-time.

If we come to its specs, the Genesis GV80 hosts a 3.0-liter turbodiesel engine with 588 Newton-meters torque and generating 278 horsepower. The base model will feature a 2.5-liter turbocharged four-cylinder engine generating 304 HP. Although the Genesis GV80 comes with a rear-wheel architecture, it will also be available in all-wheel drive.

Hyundai and Uber Unveil Flying Taxis at CES 2020

In another major announcement, Hyundai is not stepping into the flying taxis business in partnership with ride-hailing company Uber. While we have heard several times about Uber’s ambition of venturing into the flying taxis business, Hyundai’s involvement comes as a good surprise.

The first mock-up of the flying taxi S-A1 shall be shown at the Consumer Electronics Show (CES) 2020 at Las Vegas ahead this week. The electrically-powered personal air vehicle (PAV) will carry four passengers at a time covering 60 miles distance one-way.

Uber Elevate, the flying taxi subsidiary of Uber has previously partnered with other companies as well. Eric Allison, head of Uber Elevate, said:

“Hyundai is our first vehicle partner with experience of manufacturing passenger cars on a global scale. We believe Hyundai has the potential to build Uber Air vehicles at rates unseen in the current aerospace industry, producing high quality, reliable aircraft at high volumes to drive down passenger costs per trip.”

Jaiwon Shin, executive vice president and head of Hyundai’s Urban Air Mobility Division, said:

“Our vision of Urban Air Mobility will transform the concept of urban transportation. We expect UAM to vitalize urban communities and provide more quality time to people. We are confident that Uber Elevate is the right partner to make this innovative product readily available to as many customers as possible.”

After this announcement, the next day, the stock of Uber Technologies increased by nearly 4%. However, Hyundai stock is experiencing not the best times. Currently, it is trading at 115,000 KRW having lost nearly 1% in the kast 24 hours. Though it is higher than the recent price of 111,500 KRW on January 9, it is still lower than the recent high of 124,000 KRW at the end of December.

The transportation industry is undergoing rapid transformation currently. Thus, it will be interesting to see how early will flying taxis hit the market.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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