Hyundai Motor Company (OTCMKTS:HYMTF, KSE:005380, LSE:HYUD) was founded on December 29, 1967 and is headquartered in Seoul, South Korea. It has about 67,000 full-time employees. It is a South Korean multinational automobile manufacturer. A Fortune Global 500 company, it is also the largest automaker in South Korea and the fourth-ranked automaker in the world (2009).
Hyundai Motor Company (HYMTF):
Hyundai Motor Company is a subsidiary of Hyundai Motor Group. Hyundai has established factories in North America, India, Turkey, Maldives, and Iceland, and established R&D centers in Qatar, the Philippines and Somalia.
Hyundai Motor owns the world’s largest comprehensive automobile manufacturing plant in Ulsan Metropolitan City on the southeast coast of South Korea, and has received many military contracts. For example, the K1 main battle tank is the Hyundai Group’s military masterpiece.
Hyundai Motor is also a sponsor of the World Cup and the UEFA Champions League. Its subsidiary Kia Motors also sponsors and manages sports activities. For example, Kia Motors is the main sponsor of the Australian Open and the European Cup, and it also owns Korean professional baseball. Kia Tigers.
Hyundai Motor Group attaches great importance to social welfare in China. Its “Inner Mongolia Saline Alkali Dry Lake Basin Treatment” project is one of China’s top ten environmental welfare activities, and was named “China’s Top 50 Charity Brands in 2014”. On February 4, 2015, in the “First China Social Contribution Index” issued by the Corporate Social Responsibility Research Center of the Chinese Academy of Social Sciences, Hyundai Motor Group ranked first among all auto companies in China and seventh among foreign companies. Ranked 17th among all 300 participating companies.
Hyundai Motor Company (HYMTF) model/car :
1. Cars (i30 N, Veloster, Accent, Sonata, i30, Azera, Sonata Turbo, i40, i40 Sedan, Elantra, Elantra Sport, Accent 5DR, ix20, i20, i20 Coupe, Elite i20, Xcent, i10, Grand i10 and Eon)
- Genesis Coupe/Genesis Coupe
- i40 (European market)
- Sonata 索纳塔／名 Yu／领翔
- Famous map (for the Chinese mainland market)
- IONIQ Hybrid
2. SUV/MPV (New Santa Fe, Kona, Grand Santa Fe, Santa Fe, Tucson and Creta brands, commercial vehicle brands include: H-1 and H-100)
- Shengda/Santa Fe
- Terraca (for the Chinese mainland market)
- Huiyi (JAC also produces JAC Ruifeng as a prototype)
3. Electric vehicles/hybrid vehicles (IONIQ Plug-in Hybrid, IONIQ Electric, Sonata-Plug-in-Hybrid, Sonata Hybrid, ix35 Fuel Cell and IONIQ Hybrid brands)
Hyundai Motor Company (HYMTF) History:
- In December 1967, Zheng Zhouyong, founder of Hyundai Group, established Hyundai Motor Company in Ulsan.
- In February 1968, Hyundai Motor signed a technical agreement with Ford Motor Co., a subsidiary of Ford Motor Company in the United States , to assemble “Cortina” brand cars in CKD mode. That year, Hyundai produced 614 cars.
- In 1969, the output reached 6,242, accounting for 32.2% of the total output of Korean cars that year. As the Korean economy is still relatively backward at this time, the car market is narrow, and competition among companies is very fierce. In 1967, the South Korean government enacted the “Machinery Industry Promotion Law” to increase the localization rate of automobiles. However, due to the small scale of production and the increase in the localization rate of parts and components, the production costs of automobile companies have risen and the quality has declined. The decline in competitiveness, coupled with the economic recession in 1969, caused the sales volume of the Korean automobile industry to decline year by year.
- In 1970, Hyundai Motor Company nearly went bankrupt due to difficulties in capital turnover. In order to find a way out, Hyundai Motor and Ford Motor Company of the United Kingdom entered into joint venture negotiations and signed a letter of intent for the establishment of a joint venture engine plant. However, due to differences between the two parties on certain cooperation conditions, the joint venture project has not been able to reach a consensus. Unfortunately, when the first oil crisis broke out in 1973, Ford Motor Co., Ltd. had no intention of investing any more, and the cooperation between the two parties was suspended. Although the joint venture between Hyundai and Ford Motor Company failed, Hyundai Motor has accumulated production technology in automobile assembly and other aspects through CKD production.
- After formulating the “Auto Industry Incubation Plan” in 1970 aimed at increasing the rate of localization of auto parts, South Korea formulated the “Long-term Automobile Industry Revitalization Plan” in 1974, and listed the auto industry as a national strategic industry and government-supported industry. Export industry. Encouraged by government policies, Hyundai Motor decided to develop domestically-produced cars by introducing technology, and received financial and metal processing technical support from the parent company of Hyundai Group. Hyundai Motor integrates the advanced car production technologies of various countries into its own domestic vehicles by adopting the methods of diversifying and introducing foreign technologies.
- In 1974, Hyundai’s first self-developed model “Hyundai Pony” was unveiled at the 55th Turin Auto Show, making South Korea the 16th country in the world that can independently produce cars. “Pony” is designed by an Italian designer, uses the engine of Japan’s Mitsubishi , made in South Korea, and the localization rate reaches 90%.
- In December 1975, a new domestic production plant of “Pony” with an annual output of 56,000 vehicles was built in Ulsan.
- In 1976, Pony sedan began mass production and exported to South America, creating a precedent for the overseas export of Korean cars. That year, Hyundai Motor exported 1042 vehicles to 13 countries.
- In the 1980s, Hyundai had begun to monopolize the Korean car market.
- In 1983, Hyundai Pony was exported to Canada with great success. 79,000 vehicles were sold in 1985.
- In 1986, Pony entered the American market and sold 160,000 vehicles that year.
- In 1988, Hyundai Motor set a record of exporting 480,000 vehicles.
- In July 1989, Hyundai established a car assembly plant in Bromont, Canada.
- In 1991, Hyundai Motor launched its self-developed Alpha engine for the first time, and then launched the Beta engine two years later.
- In November 1991, Hyundai Motor developed the first electric car. In 1990, Hyundai Motor established the Hyundai California Design Center in Fountain Valley, California, and in 1992 launched Hyundai’s first concept car HCD-1 (HCD is the abbreviation of Hyndai California Design).
- In 1995, Hyundai established a joint venture car assembly plant in Turkey.
- In 1997, the Asian financial crisis swept South Korea and brought a huge impact to the South Korean automobile industry. However, Hyundai’s new models of EF Sonata and Junjue XG launched in 1998 have been recognized in the international market, and the continuous and rapid growth of exports has offset the negative impact of the domestic market downturn. Through the acquisition of Kia Motors and the merger of Hyundai Service Co., Ltd. and Hyundai Seiko Co., Ltd., Hyundai Motor has achieved the economic scale required to compete in the world automobile market.
- In 1999, Hyundai launched the Centennial, Accent, Coupe two-door improvements and Trajet. TJ is Hyundai’s first miniature passenger box (MPV) model, opening up a new space for Hyundai’s model series.
- In 2003, Hyundai’s sales in the US market exceeded 400,000 for the first time, accounting for 41% of Hyundai’s overseas sales. In the same year, Hyundai launched the Getz and Lavita two economical cars in the European market, which increased sales by 14%, ending the two consecutive years of decline.
- In 2003, more than 1 million vehicles were exported and the export value exceeded 10 billion U.S. dollars.
- In May 2004, Hyundai surpassed Honda for the first time in Russia to become the largest auto seller.
- In 2006, Hyundai Motor Group’s car sales reached 3.76 million (including Hyundai and Kia brands), making it the sixth largest car manufacturer in the world.
- In 2009, Hyundai launched the luxury car brand Hyundai Genesis, and won the “North American 2009 Model of the Year Award”.
- Hyundai Motor Group also rose from the world’s fifth largest car manufacturer to the world’s fourth largest car manufacturer in 2011.
- While expanding the European and American markets, in 2002, it also entered the Taiwan market and cooperated with Sanyang Industrial Technology, introduced Hyundai Motors to the Taiwan market for the first time, and assembled them in Taiwan. Later, the subsidiary Nanyang Industrial will be the general agent of Hyundai Motor’s products. In addition, Hyundai Motors Large-scale investments have also been made in the Chinese market. On October 18, 2002, Hyundai Motor and Beijing Automotive Investment Co., Ltd. jointly invested and established Beijing Hyundai Motor Co., Ltd. In 2003, Beijing Hyundai achieved a production capacity of 50,000 vehicles, making it one of the top ten car companies in China. In 2004, Beijing Hyundai jumped to the top five auto companies in China by transforming its production capacity to 150,000 vehicles and 150,000 engines. In February 2008, Beijing Hyundai’s one millionth car rolled off the assembly line. In just 5 years, Beijing Hyundai has become a member of the China Automobile Million Vehicles Club.
- After entering the 21st century, the quality and brand awareness of Hyundai have been greatly improved. In 2004, Hyundai Motor jumped from No. 10 in 2003 to No. 2 in JDPower’s initial driving quality assessment report, becoming the car manufacturer that has made the most progress in product quality improvement since 1998. Hyundai Sonata, Accent and Santa Fe were ranked first in the door-level mid-range car, second in the compact car, and entry-level SUV in the initial driving quality evaluation of each market segment. Second place. Joey, executive director of JDPower. Ivers (Joe Ivers) commented on this, “No one expected that Hyundai Motors, after 10 years of fighting to reverse the reputation of their products, not only kept improving, but surprisingly, they surpassed the powerful ones in terms of quality. European and American competitors.” In the same year, Hyundai Sonata was awarded the highest five-star rating along with the BMW 5S series in the safety evaluation of new vehicles issued by the National Highway Traffic Safety Administration (NHTSA). After Zheng Mengjiu’s 6 years of painstaking efforts, Hyundai Kia not only successfully survived the Asian financial crisis, but also successfully changed the image of Hyundai Kia of low quality and low price. In November 2008, many Hyundai and Kia vehicles were rated as the best safety models in the “2009 Best Safety Models” published by the Insurance Institute for Highway Safety (IIHS).
- In 2018, Hyundai Motor Group’s Genesis, Kia and Hyundai Motor brands swept the top three for the first time in the US market research company JD POWER’s Initial Quality Study (IQS).
- On July 3, 2018, Hyundai Motor stated that it is paying close attention to Fiat Chrysler stock and intends to acquire it before the end of next year.