LOS ANGELES -- Hyundai Motor Group, the umbrella company of Hyundai Motor Co. and Kia Motors Corp., is developing 10-speed automatic transmissions for future luxury vehicles.
Bloomberg News reported that Park Seong Hyon, president of Hyundai Motor Group, said the transmissions will be for luxury models starting in 2014, possibly including the Hyundai Genesis and Equus luxury sedans.
Automakers are increasingly using transmissions with six, seven, eight or more gears to cut fuel consumption and help vehicles meet stricter emissions standards.
The disclosure also signals that Hyundai will continue to make in-house development of powertrain technologies a core part of its product strategy.
Earlier this year, Hyundai launched an eight-speed automatic transmission in the 2012 Genesis and Equus sedans that was developed in-house.
Hyundai division’s U.S. sales through August were up 21 percent from the same period last year to 440,863 vehicles.