The automotive industry is a cutthroat industry – with many available options and competitive vehicles vying for the consumer’s dollar. A new car can come along and change the dynamics of the segment it competes in.

Hyundai has changed the dynamics with its lineup of new products. The remarkable transformation has extended from the mainstream to luxury spectrum. With these new models under their belt, Hyundai still isn’t content to rest on its laurels.

Autoblog has attended a Hyundai product briefing that revealed details about the brand’s next-generation V-8 engine for use in high-end products.

We know that Hyundai didn’t spare much expense with its luxury forays, developing a new rear-wheel drive platform and V-8 to properly compete in the luxury market.

The V-8 powerplant is dubbed “Tau” and it powers the Equus and Genesis. The 4.6L unit currently produces a stellar 370 horsepower and 324 pound feet of torque. Hyundai is planning on significantly upgrading that package soon though.

Changes include bumping the V-8′s displacement to 5.0-liters and using direct injection to produce 429 HP and 376 lb-ft of torque. That works out to an increase of 59 hp and 52 ft-lbs of torque over the current engine setup.

Confirming speculation, Hyundai is also working on an eight-speed automatic. Mated to the new V-8 it should ensure an increase of fuel economy by one mile per gallon, to 18/26.

Nice one, Hyundai! We’re glad to see them relentlessly working to improve their products. That is what is going to take to successfully compete in the long run.