Hyundai USA CEO Dave Zuchowski confirming that they're just planning the official announcement.
The key take away is that the Santa Cruz in fact will be heading to production sometime in the near future. Hyundai HQ is simply strategizing when and where the official announcement will be made.
"What's the easiest way to say that? We're waiting more for an announcement than we are for an approval, right? HMC [Hyundai Korea head office] is going to dictate [when that happens, but] we feel really good about it. It hasn't been officially announced yet. Our timing is not crossing our fingers and waiting for approval, it's trying to figure out when we're going to announce it," Zuchowski said to the Aussies at Motoring.com
“Santa Cruz, by design, isn’t an alternative to a truck, so towing, payload and ground clearance were not primary goals,” said Hyundai Motor America director of corporate planning Mark Dipko on the concept’s debut last year.
You'll be able to haul your bikes or a small boat, but nothing more then the modern cute 'ute most likely.
Look out for an announcement sometime before the NY Auto Show in March.