It's been simmering for the past few months in motoring circles, but now it's official: Hyundai Philippines has given the green light for the 2014 Hyundai Elantra Cup.

The go-ahead for the Elantra Cup was announced at a speech given by Hyundai Asia Resources, Inc. president Ms. Ma. Fe Perez-Agudo. The Elantra one make race series will take place next year, and will coincide with the launch of the facelifted Hyundai Elantra, as well as Hyundai's renewed participation in the World Rally Championship and the launch of Hyundai's new motorsport facility in Germany.

The Hyundai Elantra Cup (as it will be called) will launch in the first quarter of 2014 and will be open to all customers. The car to be used will be a special Hyundai Elantra with a 148 horsepower (tentative) 1.8-liter engine and a 6-speed manual transmission; a variant yet to be launched locally.

Hyundai is still keeping mum about the details as to who the actual organizer will be, what the racing specs of the Elantra 1.8 MT will be as well as the suppliers of body kits, tires, wheels, parts and other things. The price for entry is still to be determined, along with the prizes for the winning drivers.

Hyundai's sales performance in the last few years (under Perez-Agudo's leadership) has seen them surge forward to a strong third place overall in the industry, allowing the company to venture into motorsport; more recently the Lateral D drift championship. The bold announcement of the Elantra Cup means the series will coincide with the 2014 Vios Cup to be conducted by Toyota Motor Philippines.

What do you think of the Hyundai Elantra Cup?