The question is, what does "premium" mean? The word was applied to the Veracruz but customers didn't exactly buy it, cross-shopping the Veracruz with mass-market competitors. Ward's uses a barn-sized brush to lay out the competitive set for this future CUV, from the $18,995 Dodge Journey(!) to the $46,250 Audi Q7. That's a boggling range, the prime takeaway being that whatever it is will be obviously more "premium" than the Veracruz. According to Ward's, "Hyundai has expressed a desire to use the rear-wheel drive platform underpinning its premium Genesis and Equus sedans for other models, possibly CUVs."
Just as important for the moment is that Hyundai believes there's a fight it can still win in the arena of large crossovers.