Hyundai is well-known around the world as an automobile manufacturing company. The company is offering numerous types of vehicles to the market under its brand. People who purchase the vehicles offered by Hyundai are impressed with their affordable prices and excellent performance. All the vehicles offered to the market under the Hyundai brand come along with innovative features. On the other hand, the products are complete with quality, technology, refinement, and styling. Hence, Hyundai is a company that is in a position to give tough competition to the other automobile brands located around the world.
Automobile manufacturing of Hyundai
Hyundai was able to sell the very first car for a western country back in the year 1986. From the beginning, this brand was targeting international markets. That’s the main reason why Hyundai was able to sell the very first car to the American market. When the brand emerged in the American automobile industry, it was quite new to the people. However, it didn’t take a long time for Hyundai to become one of the most popular automobile brands among people in the United States. The ability of Hyundai to offer technology and innovation at affordable prices was the main reason behind their popularity.
As of now, Hyundai cars are selling goods in the United States and many other countries out there in the world. Hyundai cars are accumulating around 2% of the vehicle market that you can find in the United States as of now.
Hyundai is offering new vehicle models to the market along with time. There is an excellent variation of vehicles available under the brand as well. For example, people who are interested in purchasing subcompact vehicles will be able to buy the Hyundai Accent. On the other hand, people who are interested in buying an SUV will be able to take a look at Hyundai Santa Fe Sport. There are luxurious vehicles available for people who prefer to stick to the brand as well. Hyundai Genesis is a perfect example of such a luxury sedan available in the market.
All vehicles offered by the Hyundai company are fitted with transmissions and engines that are engineered by Hyundai. Hence, driving a Hyundai car would deliver a different experience to you when compared to other vehicles in the market. This is another reason available for people to fall in love with Hyundai and what it is offering.
Background and history of Hyundai
Hyundai Motor Company was discovered by Ju-Yung, back in the year 1947. The name of the company was Hyundai Engineering and Construction Co. As you can guess by the name, manufacturing vehicles was not the main intention of the brand. However, the brand could later shift its overall focus into automobile manufacturing. Along with that, Hyundai wanted to brand the vehicles and manufacture them under a new name. That’s where the Hyundai Motor Co. was established back in the year 1967. It didn’t take a long time for Hyundai to become the leading automobile manufacturer in South Korea. Along with the success in the domestic market, Hyundai wanted to expand its boundaries. That’s where the company was expanded to international markets. As of now, Hyundai vehicles are being sold in a total of 190 countries all around the world.
Investments done on research
Hyundai Motor Corporation is now having the biggest integrated vehicle manufacturing facility. This vehicle manufacturing facility is located within Ulsan. Back in the year 1996, Hyundai went ahead and launched the Namyang Technology Research Center. Along with that, they want to bring more innovation into the Hyundai vehicles. Its effectiveness is proven as of now. That’s because we will be able to see how Hyundai vehicles are coming with numerous innovative features as of now.
The Namyang Technology Research Center is fully equipped with a testing facility. There is a test track that runs over a distance of 2.8 miles. On the other hand, it is paired with a massive $40 million aeroacoustics wind tunnel as well. As of now, Hyundai is holding ownership of 8 different research centers that are located all around South Korea. On top of that, Hyundai is managing four major international centers as well. According to a recent study, it was proven that a total of over 4,100 researchers are working for Hyundai as of now. They are responsible for introducing the latest technology and innovation into the vehicles that Hyundai is offering to the market.
Hyundai doesn’t think twice when investing in research activities. That’s because the company knows that its future relies on how much research that they do. This is the main reason why the company is spending around 5% of its annual revenue on research and development activities. We can also see how Hyundai is working on some innovative and outstanding research projects as of now. Some of the most prominent research activities include hydrogen-powered fuel cell vehicles, solar-powered vehicles, low-emission gasoline engines, and electric-powered vehicles. Along with them, we can also see how Hyundai is doing many research activities to offer vehicles powered up with alternative fuel sources to the market as well.
International expansion of Hyundai
Hyundai is among the most trusted automobile brands that we can find out there in the world. The company is going through a rapid international expansion as well. Along with that, the company is capable of entering into new target markets. One of the best initiatives taken by Hyundai to enter into new markets is the establishment of Hyundai California Design Center back in the year 1990. This is responsible for manufacturing and developing production-grade vehicles with the help of the latest cutting-edge technologies that are available. On the other hand, it is offering new design concepts to the vehicle market as well.
The South Korean automobile brand is doing good as of now, and we will be able to see them offering even better vehicles to the market in the future.