The South Korean multinational automotive manufacturer known as the Hyundai Motor Company, with headquarters in Seoul, South Korea. Hyundai Engineering and Construction Company was founded by Chung Ju- Yung under which Hyundai Motor Company was later established in 1967. In cooperation with Ford Motor Company, establishing an alliance with Ford, one of the oldest automakers to share assembly technology. The first designed and built-in Korean car was named Pony, made with the help of Japanese Company Mitsubishi. It was launched in 1974 and was exported to overseas markets too.
In 1986 Hyundai entered the U.S market with the first car Excel, the car became a hit in the American market which was later nominated in the list of the 10 best products. Affordability became the major factor in the success of Excel with sales figures above 100,000 units. By the 1990s Hyundai was able to improve its technology and produce its first proprietary gasoline engine which was a four-cylinder engine called Alpha. The next car offered by Hyundai was Sonata. In 1996 a new production plant was established in India by Hyundai Motor India Limited.
With an annual production capacity of 1.6 million units, Hyundai operates the world’s largest automobile manufacturing facility. Providing employment to about 75,000 people worldwide. Their cars provide an improved comfort level with affordable prices and the longest warranties. The company changed its design philosophy in 2006 by hiring Thomas Burkle as head of the company’s design center. Their new design theme is inspired by nature and known as Fluidic Sculpture.
Today’s lineup showcases the complete turnaround of the brand. With vehicle lineup extended to such an extent that Hyundai now has a vehicle for every segment from economic subcompact Accent, Elantra, Sonata which also has a hybrid variant, Genesis and Veloster coupe, and a bunch of SUVs. Hyundai gained a reputation for a brand focused on quality vehicles. Their version of an inspiring rags-to-riches story is interesting.
The new millennium started paying off well and the story is still the same. One of the most successful vehicles was the Elantra which gained massive improvement in overall build quality, reliability, and performance. Further good product launches helped Hyundai building reputation which also resulted in long waiting periods of some models.
Focusing on performance-oriented cars, Hyundai Launched the N division. The first car was launched under this was the new i30 N. It focuses on delivering an enjoyable everyday car which benefits from all the knowledge collected during the days spent in the World Rally Championship and at the Nürburgring. The outcome is an outstanding performance on track and daily enthusiastic driving. The future definitely holds more of performance-focused cars coming out of the N division.
Hyundai motor company focusing on the future plans to invest $34.6 billion into auto technologies which also include vehicles, by 2025. The company also planning to invest in autonomous focused cars. Developing self-driving cars and technologies related to the same. The government is also supporting companies in taking further steps towards autonomous driveability.
The current lineup of Hyundai cars offers a wide range of engine options and plans are to make them even better with improved range and refinement. The company is working on launching 14 new eco models worldwide which include a mixture of hybrids, plug-in hybrids, full electric, fuel cell-powered cars by 2020. Connected and electric vehicles are the need or we can say demand of the future and Hyundai is taking care of it with investing in such budget-friendly vehicles which are also cheaper to run in the day to day life.
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