History of Hyundai
Hyundai Motor Company (HMC) was founded in 1947 as Hyundai Engineering and Construction Co. by Ju-Yung Chung:
- HMC was established in 1967 and is the auto sales leader in the Korean domestic market and exports vehicles to 193 countries worldwide.
- The Korean word "Hyundai" signifies "modern" and reflects Hyundai's commitment to selling innovative, high-quality vehicles at the most affordable prices.
- HMC is the 6th-largest auto manufacturer globally, outselling #7 Nissan, #8 Honda, and #9 PSA/Peugeot-Citron PSA.
- HMC operates the world's largest integrated automobile manufacturing plant in Ulsan, on Korea's southeast coast, and at the AsanPlant, located southeast of Seoul.
- The Namyang Technology Research Center in Korea includes a complete testing facility, a 2.8-mile oval test track, and a $40 million wind tunnel capable of producing wind speeds of nearly 125 miles per hour.
Research, Design and Production
Hyundai conducts research at eight research centers in Korea and four international centers, including the Hyundai America Technical Center, Inc., in Ann Arbor, Michigan, and the Hyundai/Kia Design Center in Irvine, California:
- Hyundai's automotive technology centers employ approximately 4,100 researchers with an annual budget of 5% of current revenues.
- Hyundai opened its first U.S. manufacturing facility in Montgomery, Alabama, in 2005Â with a capacity of 300,000 vehicles. Its first products were Sonata, starting with 2006, and the 2007 Santa Fe.
- The proving ground in the California Mojave desert consists of 4,300 acres, with a 6.4-mile high-speed oval, 2.75-mile road course, and a 3.3-mile hill road.
Current research projects include:
Electric-powered vehicles
- Low-emission gasoline engines
- Solar-powered vehicles
- Hydrogen-powered fuel cell vehicles
- Other alternative fuel vehicles
Hyundai Manufacturing in America - "Made in America"
Hyundai Motor Corporation's $1.1 billion automotive assembly and manufacturing plant in Montgomery, Alabama, began production in March 2005, rolling out the Hyundai Sonata. This was the company's first assembly and manufacturing plant in the United States:
- It employs approximately 2,000 people in Montgomery and the surrounding area.
- Occupying 1,600 acres, it will produce 300,000 vehicles per year at maximum capacity.
HMC selected Montgomery, Alabama, for its first U.S. plant because of its high-quality workforce, its strategic location in proximity to American population centers, the superb automotive parts supply chain available in the region and the commitment shown by the state of Alabama and the city of Montgomery.
Hyundai in America
Hyundai Motor America (HMA), with its National Headquarters in Fountain Valley, California, is the U.S. sales and distribution arm of Hyundai Motor Company. HMA was established in 1986, currently has more than 750 dealers and distributes nine vehicle lines through six regional distribution centers.
Warehouses
To speed parts to dealerships, Hyundai maintains one of the nation's leading parts distribution systems that includes a computer network linking dealers to the parts warehouses. This arrangement ensures timely parts availability. Winning industry awards for timely delivery and having the parts on hand for dealer orders, Hyundai's parts warehouses are currently located in three U.S. cities:
- Ontario, California
- Aurora, Illinois
- Jamesburg, New Jersey
Ports
Hyundai processes its vehicles through six facilities (five port facilities and one inland facility):
- Portland, Oregon
- Brunswick, Georgia
- Baltimore, Maryland
- Los Angeles, California
- Fort Worth, Texas - our inland processing port - Receives vehicles by rail and then distributes them throughout the Midwest
Financing
Hyundai Motor Finance Company (HMFC) serves Hyundai dealers nationwide with two types of financing:
- Individual customer financing and leasing
- Dealer inventory financing
