Hyundai Motor Company – From South Korea to World Over
Hyundai Motor Company is one of the leading automobile companies not just in USA, but all over the world. With more than 19 manufacturing plants world over, the company has been growing from strength to strength over the years. Today, we are going to have a look at the story of the company and how it managed to emerge as one of the leading names in the automobile manufacturing world. So, let us begin!
The Inception Story
Started in the year 1967 by Chung Ju-yung, Hyundai Motor Company is South Korean automotive manufacturer that has managed to gain popularity all over the world. Today the company has its operations spread across more than 193 countries, having 5000+ dealerships and showrooms through which it employs more than 75000 people. In USA, the company has its manufacturing plant in Montgomery, Alabama.
If we talk about Hyundai’s presence in the United States of America, it set its foot in the country in the year 1968. The first model that it sold in the country was Hyundai Excel, which it started selling on February 20 1968. Growing in popularity over the next few decades, the company started its Hyundai Design Center in Fountain Valley, California in the year 1990.
Since its inception, the company has been widely received in USA growing in sales year after year. In April 2002, the company started a new manufacturing facility in the United States in Alabama. The plant cost the company close to $1.7 billion, which started its operation in May 2003.
In the year 2004, the company constructed a 4300 acre Hyundai America Technical Center in Mojave Desert. The center also has a 30,000 square feet testing area, costing the company $50 million.
Ranking Amongst the Best
During its journey throughout these years, the company has managed to win a number of accolades. In the year 2006, Hyundai Motor Company was ranked number 3 in terms of quality behind Porsche and Lexus. It left behind the giant Toyota in this competition. Similarly in the year 2007, the company led the way in Strategic Vision Total Quality Awards.
Subsidiaries And More
One of the interesting things about motors is that it holds a major 32.8% stake in Kia Motors, and also owns 100% in Genesis Motors. The Genesis range by Hyundai managed to win the 2009 North American Car of the Year. In the same year, 4 models from Hyundai along with 2 models from Kia managed to grab the Top Safety Award by the Insurance Institute for Highway Safety (IIHS). Also, the company was also touted as the least expensive cars to insure.
As per the number available, the company sold 710,000+ cars in the year 2019, which is amongst the highest in the country. Leading the competition and giving a run for their money to giants like Toyota, and more, the company truly stands tall as one of the most trusted automobile brands in not just America, but all over the world.
If you want to check out more about the company, you can visit them here.