Editing Hyundai Motor Company (section)

== History ==
[[File:1982 Hyundai Pony GLS (11868204214).jpg|left|thumb|1982 [[Hyundai Pony]]]]
[[Chung Ju-yung]] (1915–2001) founded the [[Hyundai Group|Hyundai Engineering and Construction Company]] in 1947. Hyundai Motor Company was later established in 1967, and the company's first model, the [[Ford Cortina|Cortina]], was released in cooperation with [[Ford Motor Company]] in 1968.<ref>{{cite book|url=https://books.google.com/books?id=be-AAAAAQBAJ&q=ford+ulsan+assembly+plant&pg=PA76|title=Made in Korea: Chung Ju Yung and the Rise of Hyundai|first=Richard M.|last=Steers|date=21 August 2013|publisher=Routledge|via=Google Books|isbn=978-1-136-60038-8|access-date=26 October 2020|archive-date=29 March 2021|archive-url=https://web.archive.org/web/20210329103848/https://books.google.com/books?id=be-AAAAAQBAJ&q=ford+ulsan+assembly+plant&pg=PA76|url-status=live}}</ref> When Hyundai wanted to develop their own car, they hired [[George Turnbull (businessman)|George Turnbull]] in February 1974, the former managing director of Austin Morris at [[British Leyland]]. He in turn hired five other top British car engineers. They were body designer Kenneth Barnett, engineers John Simpson and Edward Chapman, [[John Crosthwaite]], formerly of [[BRM]], as chassis engineer and Peter Slater as chief development engineer.<ref>''The Times'' (9 July 1974)</ref><ref>''The Sunday Times'' 'Business News' (14 July 1974)</ref><ref>''Motor Report International'' (18 July 1974)</ref><ref>''The Engineer'' (30 January 1975)</ref> In 1975, the [[Hyundai Pony|Pony]], the first South Korean car, was released, with styling by Giorgio Giugiaro of [[Italdesign]] and powertrain technology provided by Japan's [[Mitsubishi Motors]]. Exports began in the following year to Ecuador and soon thereafter to the [[Benelux countries]]. Hyundai entered the British market in 1982, selling 2993 cars in their first year there.<ref name="nouv">{{cite journal | journal=Le Moniteur de l'Automobile | page= 28 | title= Lotus, R-R & Co | last = Fisher | first = Brian | language=fr | volume=34 | number=764 | date=10 March 1983 | ref = mon764 }}</ref>

In 1984, Hyundai began exporting the [[Hyundai Pony|Pony]] to Canada, but not to the United States, as the Pony would not pass emissions standards there. Canadian sales greatly exceeded expectations, and it was at one point the top-selling car on the Canadian market. In 1985, the one millionth Hyundai car was built.<ref name="TV991">{{cite journal | journal = Teknikens Värld | page = 8 | number = 9 | editor-first = Björn | editor-last = Sundfeldt | language = sv | title = Hyundai Elantra | date = 2 May 1991 }}</ref> Until the 1986 introduction of the larger [[Hyundai Grandeur]], Hyundai offered a locally assembled [[Ford Granada (Europe)#MkII|Ford Granada]] for the South Korean executive market. The import of these knocked down kits was permitted as long as Hyundai exported five cars for every single Granada brought in (the same demands were placed on [[Kia Motors|Kia]]).<ref name=usitc>{{citation | url = https://www.usitc.gov/publications/332/pub1712.pdf | title = The Internationalization of the Automobile Industry and Its Effects on the U.S. Automobile Industry | page = 103 | publisher = United States International Trade Commission | date = June 1985 | id = USITC Publication 1712 | location = Washington, D.C. | access-date = 27 June 2021 | archive-date = 10 May 2021 | archive-url = https://web.archive.org/web/20210510182134/https://www.usitc.gov/publications/332/pub1712.pdf | url-status = live }}</ref>

In 1986, Hyundai began to sell cars in the United States, and the [[Hyundai Excel|Excel]] was nominated as "Best Product #10" by ''[[Fortune (magazine)|Fortune]]'' magazine, largely because of its affordability. The company began to produce models with its own technology in 1988, beginning with the midsize [[Hyundai Sonata|Sonata]]. In the spring of 1990, aggregate production of Hyundai automobiles reached the four million mark.<ref name="TV991" /> In 1991, the company succeeded in developing its first proprietary gasoline engine, the four-cylinder [[Hyundai Alpha engine|Alpha]], and also its own transmission, thus paving the way for technological independence.

In 1996, [[Hyundai Motor India Limited]] was established with a production plant in [[Irungattukottai]] near [[Chennai]], India.<ref>{{cite web |url=http://business.mapsofindia.com/automobile/car-manufacturers/hyundai-motors-india.html |title=Hyundai Motor India Ltd |publisher=Business.mapsofindia.com |date=9 April 2010 |access-date=17 December 2010 |archive-date=1 November 2011 |archive-url=https://web.archive.org/web/20111101024427/http://business.mapsofindia.com/automobile/car-manufacturers/hyundai-motors-india.html |url-status=live }}</ref>

In 1998, Hyundai began to overhaul its image in an attempt to establish itself as a world-class brand. Chung Ju-yung transferred leadership of Hyundai Motor to his son, [[Chung Mong-koo]], in 1999.<ref name="bw">{{cite web|url=http://www.businessweek.com/magazine/content/05_02/b3915630.htm |title=Chung Mong-koo |work=Business Week |url-status=dead |archive-url=https://web.archive.org/web/20120605064444/http://www.businessweek.com/magazine/content/05_02/b3915630.htm |archive-date=5 June 2012 }}</ref> Hyundai's parent company, [[Hyundai Motor Group]], invested heavily in the quality, design, manufacturing, and long-term research of its vehicles. It added a 10-year or {{convert|100000|mi|km|adj=on}} warranty to cars sold in the United States and launched an aggressive marketing campaign.

In 2004, Hyundai was ranked second in "initial quality" in a survey/study by [[J.D. Power and Associates]] in North America.<ref>{{Cite news|url=https://www.itsallenturnertime.com/used-hyundai-models/|title=Explore Used Hyundai Models with Allen Turner Pre-Owned.|work=Allen Turner Pre-Owned|access-date=8 January 2018|language=en|archive-url=https://web.archive.org/web/20180108175108/https://www.itsallenturnertime.com/used-hyundai-models/|archive-date=8 January 2018|url-status=dead}}</ref><ref>{{cite web|url=https://www.hyundai.com/kr/ko/company-intro/info/awards/2010-2001/awards-2004|title=수상내역 : 2004 – 기업정보 – 회사소개 {{!}} 현대자동차|website=Hyundai Motors|language=ko|access-date=22 April 2018|archive-date=23 April 2018|archive-url=https://web.archive.org/web/20180423033306/https://www.hyundai.com/kr/ko/company-intro/info/awards/2010-2001/awards-2004|url-status=live}}</ref> Hyundai is now one of the top 100 most valuable brands worldwide according to Interbrand.<ref>{{Cite web|title=Hyundai Motor consistently ranked among world's top-valued brands by Interbrand|url=https://www.hyundai.news/eu/articles/press-releases/hyundai-motor-consistently-ranked-among-worlds-top-valued-brands-by-interbrand.html|archive-url=https://web.archive.org/web/20210720002553/https://www.hyundai.news/eu/articles/press-releases/hyundai-motor-consistently-ranked-among-worlds-top-valued-brands-by-interbrand.html|url-status=dead|archive-date=20 July 2021|access-date=20 July 2021|website=www.hyundai.news}}</ref> Since 2002, Hyundai has also been one of the worldwide official sponsors of the [[FIFA World Cup]].

In 2006, the South Korean government initiated an investigation of [[Chung Mong-koo]]'s practices as head of Hyundai, suspecting him of [[Corporate crime|corruption]]. On 28 April 2006, Chung was arrested, and charged for [[embezzlement]] of 100&nbsp;billion [[South Korean won]] (US$106&nbsp;million).<ref>{{Cite news |url=https://www.nytimes.com/2006/04/28/world/asia/28cnd-hyundai.html?hp&ex=1146283200&en=addb42d7d874746e&ei=5094&partner=homepage |title=South Korea Arrests Head of Hyundai Motor |work=[[The New York Times]] |date=28 April 2006 |author=Sang-hun, Choe |access-date=9 February 2017 |archive-date=24 July 2016 |archive-url=https://web.archive.org/web/20160724174934/http://www.nytimes.com/2006/04/28/world/asia/28cnd-hyundai.html?hp&ex=1146283200&en=addb42d7d874746e&ei=5094&partner=homepage |url-status=live }}</ref> 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. In the interim replacement period, Chung Mong-koo and Kim Eok-jo divided the duties of the CEO position.<ref>{{cite news |url=https://www.wsj.com/articles/SB10001424052970204138204576602682341427992 |title=Hyundai CEO's Departure Is Year's Second Sudden Exit |work=[[The Wall Street Journal]] |date=3 October 2011 |author=Evan Ramstad |access-date=3 August 2017 |archive-date=24 February 2018 |archive-url=https://web.archive.org/web/20180224051915/https://www.wsj.com/articles/SB10001424052970204138204576602682341427992 |url-status=live }}</ref>

In 2014, Hyundai started an initiative to focus on improving [[vehicle dynamics]] in its vehicles and hired Albert Biermann, former Vice President of Engineering at [[BMW M]], to direct chassis development for Hyundai vehicles, stating: "The company intends to become a technical leader in ride and handling, producing vehicles that lead their respective segments for driver engagement."<ref>{{cite web |title=Albert Biermann appointed Head of Vehicle Test & High Performance |url=https://www.hyundai.news/eu/brand/albert-biermann-appointed-head-of-vehicle-test-high-performance-development/ |access-date=10 October 2019 |archive-date=10 October 2019 |archive-url=https://web.archive.org/web/20191010063214/https://www.hyundai.news/eu/brand/albert-biermann-appointed-head-of-vehicle-test-high-performance-development/ |url-status=live }}</ref>

On 14 October 2020, [[Chung Eui-sun|Euisun Chung]] was inaugurated as the new chairman of the Hyundai Motor Group. His father, Chung Mong-koo, has been made Honorary Chairman.<ref>{{Cite web |url=https://www.hyundai.news/eu/brand/euisun-chung-inaugurated-as-chairman-of-hyundai-motor-group/ |title=Euisun Chung Inaugurated as Chairman of Hyundai Motor Group |access-date=28 October 2020 |archive-date=31 October 2020 |archive-url=https://web.archive.org/web/20201031091837/https://www.hyundai.news/eu/brand/euisun-chung-inaugurated-as-chairman-of-hyundai-motor-group/ |url-status=live }}</ref>

In April 2021, the company said that its profits rose by 187%, the highest rise in four years. The company recorded a profit of $1.16 billion from the beginning of 2021 until March.<ref>{{Cite web|date=22 April 2021|title=Hyundai Q1 profit triples, to adjust May auto production due to chip shortage|url=https://www.reuters.com/business/autos-transportation/hyundai-motor-q1-profit-nearly-triples-line-with-expectations-2021-04-22/|access-date=22 April 2021|website=Reuters|archive-date=22 April 2021|archive-url=https://web.archive.org/web/20210422065939/https://www.reuters.com/business/autos-transportation/hyundai-motor-q1-profit-nearly-triples-line-with-expectations-2021-04-22/|url-status=live}}</ref>

In November 2024, the company announced that its [[Chief operating officer|Global Chief Operating Officer]], Jose Munoz will hold the new role of global [[Chief executive officer|co-CEO]] beginning 1 January 2025.<ref>{{Cite web |last=Kelly2024-11-18T16:26:00+00:00 |first=Megan |title=Hyundai appoints Jose Muñoz as new global CEO |url=https://www.automotivelogistics.media/supply-chain-management/hyundai-appoints-jose-munoz-as-new-global-ceo/46402.article |access-date=2024-11-22 |website=Automotive Logistics |language=en}}</ref> Munoz will be the first foreigner to hold such a high executive post in a giant South Korean conglomerate. The promotion is said to be credited to Munoz's resilience and strategies in pushing for record sales in the North America region.<ref name="auto"/>

=== Research and development ===
Hyundai has six research and development centers, located in South Korea (three offices), Germany, Japan and India. Additionally, a center in [[California]] develops designs for the United States.<ref>{{cite web|url=http://worldwide.hyundai.com/company-overview/profile/research-and-development.html |archive-url=https://archive.today/20130419034234/http://worldwide.hyundai.com/company-overview/profile/research-and-development.html |url-status=dead |archive-date=19 April 2013 |title=Hyundai research & development |publisher=Worldwide.hyundai.com |date=10 June 2010 |access-date=24 April 2011 }}</ref>

Hyundai established the Hyundai Design Center in [[Fountain Valley, California]] in 1990. The center moved to a new $30&nbsp;million facility in [[Irvine, California]] in 2003, and was renamed the Hyundai Kia Motors Design and Technical Center. The facility also housed Hyundai America Technical Center, Inc, a subsidiary responsible for all engineering activities in the U.S. for Hyundai. Hyundai America Technical Center moved to its new {{convert|200000|sqft|m2|adj=on}}, $117&nbsp;million headquarters in [[Superior Township, Washtenaw County, Michigan|Superior Township, Michigan]] (near [[Ann Arbor, Michigan|Ann Arbor]]) in 2005.<ref>{{Cite web |title=Hyundai {{!}} Dezo's Garage |url=https://xr793.com/hyundai |access-date=5 July 2023 |website=xr793.com}}</ref>

In 2004, Hyundai America Technical Center completed construction of its Hyundai/Kia proving ground in [[California City, California]]. The {{convert|4300|acre|km2|adj=on}} facility is located in the [[Mojave Desert]] and features a {{convert|6.4|mi|km|adj=on}} oval track,<ref name="money.cnn.com" /> a Vehicle Dynamics Area, a vehicle-handling course inside the oval track, a paved hill road, and several special surface roads. A {{convert|30000|sqft|m2|adj=on}} complex featuring offices and indoor testing areas is located on the premises as well. The facility was built at a cost of $50&nbsp;million.

In the 2021 review of [[World Intellectual Property Organization|WIPO]]'s annual [[World Intellectual Property Indicators]] Hyundai ranked as 4th in the world for its 141 industrial design registrations being published under the [[Hague Agreement Concerning the International Deposit of Industrial Designs|Hague System]] during 2020.<ref name="wipopub941">{{Cite web|title=World Intellectual Property Indicators 2021|url=https://www.wipo.int/edocs/pubdocs/en/wipo_pub_941_2021.pdf |archive-url=https://ghostarchive.org/archive/20221009/https://www.wipo.int/edocs/pubdocs/en/wipo_pub_941_2021.pdf |archive-date=9 October 2022|url-status=live|access-date=30 November 2021|website=WIPO}}</ref> This position is up on their previous 7th-place ranking for 57 industrial design registrations being published in 2019.<ref name="wipo">{{Cite book|author1=World Intellectual Property Organization|url=https://www.wipo.int/publications/en/details.jsp?id=4526|title=World Intellectual Property Indicators 2020|publisher=World Intellectual Property Organization (WIPO)|year=2020|isbn=9789280532012|series=World IP Indicators (WIPI)|language=en|doi=10.34667/tind.42184|access-date=26 August 2021|archive-date=14 December 2021|archive-url=https://web.archive.org/web/20211214220604/https://www.wipo.int/publications/en/details.jsp?id=4526|url-status=live}}</ref>

=== Business ===
{{See also|Hyundai Motor Group}}
[[File:Hyundai car assembly line.jpg|thumb|left|The world's largest automobile manufacturing plant in [[Ulsan]], South Korea, produces over 1.6&nbsp;million vehicles annually.]]In 1998, after a shake-up in the South Korean auto industry caused by overambitious expansion and the [[Asian financial crisis]], Hyundai acquired the majority of rival Kia Motors.<ref>{{cite web |url=http://pr.kia.com/en/company/ir/general-information/shareholders.do |title=Kia Motors Shareholders |publisher=Kia Motors |access-date=24 July 2016 |archive-date=29 March 2021 |archive-url=https://web.archive.org/web/20210329103857/https://pr.kia.com/en/company/ir/general-information/shareholders.do |url-status=dead }}</ref>

In 2000, the company established a strategic alliance with [[DaimlerChrysler]] and severed its partnership with the [[Hyundai Group]]. In 2001, the [[Daimler-Hyundai Truck Corporation]] was formed. In 2004, however, DaimlerChrysler divested its interest in the company by selling its 10.5% stake for $900&nbsp;million.
[[File:Hyundai Motor America Headquarters Fountain Valley California 2022.jpg|thumb|Hyundai Motor America headquarters in [[Fountain Valley, California]]]]
Hyundai has invested in manufacturing plants in North America, India, the Czech Republic, Russia, China and Turkey as well as [[research and development]] centers in Europe, Asia, North America and the [[Pacific Rim]]. In 2004, Hyundai Motor Company had $57.2&nbsp;billion in sales in South Korea making it the country's second largest corporation, or [[chaebol]], after [[Samsung]]. Worldwide sales in 2005 reached 2,533,695 units, an 11 percent increase over the previous year. In 2011, Hyundai sold 4.05 million cars worldwide and the Hyundai Motor Group was the world's fourth largest automaker behind [[General Motors|GM]], [[Volkswagen]] and [[Toyota]].<ref>{{cite web|url=http://www.autoguide.com/auto-news/2012/01/hyundai-hunts-big-three-in-global-sales-race.html|title=Hyundai Hunts Big Three in Auto Race|date=4 January 2012 |publisher=AutoGuide|access-date=1 December 2012|archive-date=28 August 2012|archive-url=https://web.archive.org/web/20120828091849/http://www.autoguide.com/auto-news/2012/01/hyundai-hunts-big-three-in-global-sales-race.html|url-status=live}}</ref><ref>{{cite web|url=http://www.autoevolution.com/news/hyundai-beats-ford-becomes-world-s-4th-automaker-9771.html|title=Hyundai Beats Ford, Becomes World's 4th Automaker|publisher=autoevolution|access-date=20 September 2010|date=12 August 2009|archive-date=8 November 2010|archive-url=https://web.archive.org/web/20101108224916/http://www.autoevolution.com/news/hyundai-beats-ford-becomes-world-s-4th-automaker-9771.html|url-status=live}}</ref> Hyundai vehicles are sold in 193 countries through some 5,000 dealerships.

In February 2021, [[CNBC]] reported that [[Apple Inc.|Apple]] and Hyundai-Kia were close to finalizing a deal to build an autonomous Apple car. The vehicle was said to be completely designed by Apple and would be built in Hyundai or Kia plants; it could potentially have gone into production in 2024.<ref>{{Cite web|last1=LeBeau|first1=Phil|last2=Reeder|first2=Meghan|date=3 February 2021|title=Apple and Hyundai-Kia pushing toward deal on Apple Car|url=https://www.cnbc.com/2021/02/03/apple-and-hyundai-kia-driving-towards-deal-on-apple-car.html|url-status=live|archive-url=https://web.archive.org/web/20210216004638/https://www.cnbc.com/2021/02/03/apple-and-hyundai-kia-driving-towards-deal-on-apple-car.html|archive-date=16 February 2021|access-date=16 February 2021|website=CNBC|language=en}}</ref> However, Hyundai announced shortly after that it was no longer in talks with Apple.<ref>{{Cite web|last=Baldwin|first=Roberto|date=8 February 2021|title=Hyundai Declares It's No Longer Working with Apple on a Car|url=https://www.caranddriver.com/news/a35411762/apple-hyundai-kia-deal-car/|access-date=16 February 2021|website=Car and Driver|language=en-US|archive-date=14 February 2021|archive-url=https://web.archive.org/web/20210214002708/https://www.caranddriver.com/news/a35411762/apple-hyundai-kia-deal-car/|url-status=live}}</ref><ref>{{Cite web|last=Byford|first=Sam|date=7 February 2021|title=Hyundai and Kia downplay Apple car rumors|url=https://www.theverge.com/2021/2/7/22271748/hyundai-apple-car-talks-stopped-report|access-date=16 February 2021|website=The Verge|language=en|archive-date=15 February 2021|archive-url=https://web.archive.org/web/20210215053708/https://www.theverge.com/2021/2/7/22271748/hyundai-apple-car-talks-stopped-report|url-status=live}}</ref>

In June 2021, Hyundai Motor Group completed its acquisition of a controlling interest in the robotics firm, [[Boston Dynamics]]. Hyundai Motor Group now takes an 80% share of the company.<ref>{{Cite web|title=Hyundai Motor Group completes acquisition of Boston Dynamics robotics firm|url=https://www.carmagazine.co.uk/car-news/industry-news/hyundai/hmg-boston-dynamics/|access-date=16 July 2021|website=CAR Magazine|language=en|archive-date=2 October 2024|archive-url=https://web.archive.org/web/20241002172217/https://www.carmagazine.co.uk/car-news/industry-news/hyundai/hmg-boston-dynamics/|url-status=live}}</ref>
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In October 2024, Hyundai Motor said  it had signed a 610-gigawatt-hour (GWh) power purchase agreement (PPA) with SK E&S and other partners, the latest in its renewable energy transition efforts.<ref>{{cite web |url=https://koreajoongangdaily.joins.com/news/2024-10-30/business/industry/Hyundai-Motor-SK-ES-sign-Koreas-largestever-power-purchase-agreement/2166723 |title=Hyundai Motor, SK E&S sign Korea's largest-ever power purchase agreement |date=2024|website=Korea JoongAng }}</ref>