The Hyundai Motor Company has risen to become one of the automotive giants. Its global headquarters is in Seoul, South Korea and is part of the Hyundai-Kia automotive group. Hyundai boasts of having the worldâ€™s largest integrated manufacturing facility in its plant in the coastal city of Ulsan, able to produce 1.6 million units per year.
The Hyundai Group began as the Hyundai Engineering and Construction Company that was established by Chung Ju-Yung in 1947. Twenty years later in 1967, Hyundai Motor Company was born. Its first foray was the Cortino in cooperation with an American carmaker in 1968. In 1975, it released the first Korean car with help from a Japanese automaker. It was in 1991 when the company became technologically independent after it developed its first gasoline engine.
Exports began in 1976. In 1986, they successfully entered the US market with the Excel. Affordable cars have helped in penetrating a car market like the US. In 1996, a manufacturing plant was opened in India and was named Hyundai Motors India Limited. US sales for Hyundai cars have steadily grown. Hyundai enjoys a niche in the US market as one of the most reliable brands. Its products have earned recognitions and awards around the world, including the 2009 North American Car of the Year Award for the Genesis, a luxury sedan brand.