Who is Hyundai Motor Company?
Hyundai Motor Company was founded in 1967. Currently, the company owns 33.88 percent of Kia Corporation, and also fully owns two marque including its luxury cars subsidiary, Genesis Motor, and electric vehicle sub-brand, Ioniq. Those three brands altogether comprise the Hyundai Motor Group.
What does Hyundai stand for?
At one point, Hyundai became the butt of many jokes (i.e. Hyundai stands for Hope you understand nothings driveable and inexpensive). In response, Hyundai began investing heavily in the quality, design, manufacturing, and long-term research of its vehicles.
What is the history of Hyundai?
The company was founded in 1967 and, along with its 32.8% owned subsidiary, Kia Motors, and its 100% owned luxury subsidiary Genesis Motor, altogether comprise the Hyundai Motor Group. It is the third largest vehicle manufacturer in the world.
What happened to the CEO of Hyundai Motor Company?
On 28 April 2006, Chung was arrested, and charged for embezzlement of 100 billion South Korean won (US$106 million). As a result, Hyundai vice chairman and CEO, Kim Dong-jin, replaced him as head of the company. On 30 September 2011, Yang Seung Suk announced his retirement as CEO of Hyundai Motor Co.
When was the Hyundai company founded?
The Hyundai Engineering and Construction Company was founded in 1947. However, the Hyundai Motor Company was not established until 1967. Interestingly, Hyundai’s first model was the Cortina. It was released in cooperation with Ford Motor Company in 1968. They first developed their own car in February 1974.
What was Hyundai’s first car?
Two decades later, the Hyundai Motor Company was established, and the brand’s first model, the Cortina (based off the United States version of the Ford Cortina) was released a year later. Sales of the vehicle were adequate, and the brand soon wanted to produce their own car.
What does Hyundai Motor Company do?
The South Korean automobile manufacturer Hyundai Motor Company has produced various cars, SUVs, trucks, and buses since its inception in 1967.
How did Hyundai become the worlds fifth largest motor group?
The power of new thinking has helped Hyundai become the worlds fifth largest motor group in less than fifty years, selling 4.05 million vehicles in 2011. In 1967, in an innovative arrangement, Chung Ju-Yung started the Hyundai Motor Company to build the Cortina in Korea, in association with Ford.