History of Hyundai

70: Beginning in December 1967 on a wave of postwar construction boom, Hyundai Construction founded Hyundai Motor Company. Thus began the formation of the automotive industry in South Korea. The first partner of a young Hyundai Motor Company became the American Ford. Were transferred production technology of cars and light trucks. The fruitful cooperation led to the formation of strong links between Korean and British manufacturers. However, the company could not rely solely on the production of foreign models under license. Therefore, in the early 70's manual Hyundai Motor Company has taken a policy decision - to start developing your own car. Hyundai Motor Company managed to start production of its first model - Hyundai Pony. In the design of the car involved Giorgio Giugiaro and his ItalDesign. The production technology used in Japan and the UK. Subcompact Hyundai Pony immediately gained popularity in Korea and made the leader of the Hyundai Motor Company Korean automotive industry. In the late 70's Hyundai Motor Company started to export cars and gained experience in overseas markets, which can not be overestimated. 80: The industrial boom in 80 years, newspapers around the world reported on the Korean "economic miracle". The country was at the peak of industrialization and urgently needed to increase the car fleet. Built up the industrial base. The per capita income increased annually by more than tenfold. Cars, that were once considered a symbol of prosperity in the Korean society, have become an everyday means of transportation. In the early 80's in the wake of rapid economic growth, Hyundai Motor Company has invested heavily in expanding production capacity of its plant in Ulsan. Was so overcome a barrier to large-scale production. Hyundai Motor Company plans to reach across the country. The volume of production was supposed to cover domestic demand, and allows you to export new cars Hyundai. By the mid-80's Hyundai Motor Company has achieved significant success in Canada and was ready to accept the challenge of the most complex and demanding market - the U.S. car market. By the end of 80-s total exports to the U.S. exceeded one million vehicles. Taken abroad led Hyundai Motor Company into the ranks of world class players. 90: A new quality and innovative technology in 90 years, Hyundai Motor Company has begun to develop its own technology. In 1991 the company introduced the first, designed in-house engine Alpha. Two years later came the engine Beta. In January 1992, the world community has an idea of ??the future brand Hyundai. The first concept car Hyundai HCD-I established a tradition of creating original concept vehicles. Hyundai Motor Company has made great strides in developing electric cars and hybrids. The company has developed key industrial technologies. Made to reduce the volume of emissions and improving security. Mastered the recycling and use of recycled materials. In 1998 there was a sharp decline in sales in the domestic market. Hyundai Motor Company through the difficult times. It was a period of corporate and industrial restructuring. The acquisition of Kia Asia Motors and merging HPI and HMS helped restore strong economic performance. Hyundai Motor Company had the opportunity to compete in the global automotive market. A number of new models, Hyundai EF Sonata and Hyundai XG, received the highest estimations of the international automotive press. Moreover, the increased exports partially offset the losses that the Hyundai Motor Company has suffered in the Korean market. 1999 was the Hyundai Motor Company for the time of active and fruitful work. Following Hyundai EF Sonata and Hyundai XG were presented four design: Hyundai Centennial, a new Hyundai Accent, Hyundai Coupe updated and Hyundai Trajet. Hyundai Trajet is the first step of Hyundai Motor Company in the segment of the MPV (minivan comfort). This model has demonstrated the company's commitment to develop new segments of the global automotive market. Hyundai Motor Company has completed in 1999 with excellent results. Exports amounted to almost 701 thousand cars. This exceeds all previous records. Finally, domestic sales have returned to pre-crisis level. The New Millennium: Globalization in the new millennium, Hyundai Motor Company is focusing on strengthening its international position. In 2001 the plant in Chennai (India) has started production of Hyundai Sonata. Plant in Turkey has mastered production of vans Hyundai H-1. A plant of Jiangsu Yueda in China was transferred into the ownership of Kia Motors. In 2002, Hyundai Motor Company has established a joint venture with Beijing Automotive Industry Holding Co. Planned to build a factory in China and the production of cars under the name Beijing-Hyundai. Hyundai Motor Company will invest in the construction of the plant $ 250 million. Will first be mastered release of the new Hyundai Sonata, and then the Hyundai Elantra. Initially the plant will produce 100 thousand cars per year. But by 2005 the production volume will be doubled. To strengthen the position of Hyundai Motor Company in the Chinese market, Hyundai Group and the Bank of China opened a credit line totaling $ 500 million. Under the agreement Hyundai Motor Company is able to borrow at a rate of $ 243 million, Kia Motors - 207 million and Hyundai Mobis - 50 million Hyundai Motor Company has long sought to permanently settle in the Chinese market, but the company's efforts to promote its own brand brand has been postponed until China's accession to the WTO. In 2001, Hyundai Motor Company and DaimlerChrysler AG established a joint venture, which will be called Daimler Hyundai Truck Corporation. The companies agreed on the initial investment of $ 180 million. The plans include joint production of diesel engines for trucks Mercedes-Benz 900-Series at a factory in Cheongju. The company will annually produce up to 100 thousand engines. Start of production planned for 2004. The project is notable for the fact that Mercedes-Benz for the first time will produce engines for trucks in the company, not owned by the company.