The long-awaited premium hatchback of Hyndai Elite i20 is to be launched today with the release of five variants namely Era, Magna , Sportz , Sportz (O) and Asta.Many arrangements have been made to make the novices feel better both in terms of sophistication and comfort.Further with safety concerns,many new features have been added especially in terms of four airbags.An entirely new looking Elite-i20 is expected to run with a petrol and a diesel engine, both carried over from the previous model.The engine will be either an 83PS/115Nm 1.2 litre Kappa VTVT petrol mill or 90PS/220Nm 1.4-litre U2 CRDI engine.These will be getting mated to a 5-speed and 6-speed gearbox respectively. The prices will be known soon during the launch time.Maruti Suzuki Swift, VW Polo, Honda Jazz, Fiat Punto Evo, Tata Bolt are said to be the leading competitor against the pioneer Hyundai in the premium hatchback segment.