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By Moses Akaigwe
Hyundai Motor Company is celebrating a significant milestone marking 100 million units of global cumulative production.
This achievement was accomplished in just 57 years since the company’s foundation, making it one of the fastest in the global automotive industry. In honour of this milestone, Hyundai Motor held a ceremony at its Ulsan Plant in Korea.
As a token of gratitude for the unwavering support and trust of its customers, the company delivered its 100 millionth and first vehicle, an IONIQ 5, directly to a customer.
The vehicle rolled off the final inspection conveyor belt at Ulsan Plant’s shipping centre during a special handover ceremony.
The event also featured a celebratory display commemorating ‘100 million and 1’, symbolising Hyundai Motor’s commitment to pushing one step further with its past accomplishments as the foundation.
“Reaching global cumulative production of 100 million vehicles is a meaningful milestone that was possible thanks to our customers around the world who have chosen and supported Hyundai Motor since the very beginning,” said Jaehoon Chang, President and CEO of Hyundai Motor Company.
He further stated: “Taking on bold challenges and being in constant pursuit of innovation has enabled us to achieve rapid growth and will empower us to take ‘one step further’ toward another 100 million units as a mobility game changer.”
The Ulsan Plant, which began operations in 1968, holds significant historical importance as the ‘birthplace of the development of the Korean automobile industry.
’ Notably, the plant produced Korea’s first mass-produced independent model, the Pony, in 1975. Currently, the Ulsan Plant is a central hub for electrification, and the company is establishing a dedicated electric vehicle (EV) facility at the site.
“Each and every employee at Hyundai Motor has contributed to the accumulation of 100 million units through their hard work and dedication,” said Dong Seock Lee, President and Head of Domestic Productions and Chief Safety Officer at Hyundai Motor Company.
He further remarked: “This auspicious occasion is just the first step toward the future era of electrification that Hyundai Motor will lead.”
This historic achievement follows Hyundai Motor’s continuous growth, fueled by the launch of the premium brand Genesis, the high-performance brand N, and the introduction of EVs such as the IONIQ 5 based on the dedicated electric global modular platform (E-GMP). The company’s global footprint has expanded with production facilities in Turkey, India, the U.S., and the Czech Republic, contributing to record achievements including surpassing 50 million vehicles manufactured in 2013.
Last year, Hyundai Motor built on this momentum by establishing the Hyundai Motor Group Global Innovation Center Singapore (HMGICS), a new concept of a smart urban mobility hub. The innovative manufacturing platforms and advanced technologies developed there, including artificial intelligence (AI), robots, and smart factories, are set to be introduced to future production factories, such as Hyundai Motor Group Metaplant America (HMGMA), maximizing production efficiency. The company continues to innovate and expand, building on its success and commitment to excellence.
In another developmen, Hyundai Motor Company has announced that its brand valuation has reached $23 billion, ranking 30th globally among Interbrand’s Best Global Brands in 2024.
This marks a significant 63 percent increase in brand value over five years, and a rise in rankings for the second consecutive year. During this time, the brand moved up six spots from 36th to 30th and marked 14th consecutive year of increasing brand valuation.
Key factors that contributed to Hyundai Motor’s growth in brand value include various global initiatives that embody the company’s brand vision ‘Progress for Humanity’.
Notably, IONIQ 5 N won the World Performance Car at the 2024 World Car Awards, and received accolades at the J.D. Power U.S. APEAL Study, reinforcing Hyundai Motor’s competitiveness as a global top automaker.
Hyundai Motor has also expanded its global brand influence through strategic initiatives. Following the completion of the Hyundai Motor Group Innovation Centre Singapore (HMGICS), the company continues to secure global influence in future mobility with plans for new facilities like the Hyundai Motor Group Metaplant America (HMGMA), a new electric vehicle (EV) plant in Ulsan, and a complete knock down (CKD) factory in Saudi Arabia.
Customer engagement has been strengthened through creative initiatives such as sports sponsorships including Archery and FIFA, sponsorship of the Whitney Museum of Art, and the premiere of its first short film ‘Night Fishing’. Hyundai Motor also opened its first restaurant ‘Na Oh’ in Singapore in collaboration with a Michelin-starred chef. It won numerous accolades in the Red Dot Award: Brand & Communications Design 2024 Awards.
Looking ahead, Hyundai Motor recently unveiled ‘Hyundai Way’, a mid- to long-term strategy for market leadership. The company will continue to innovate to create a future centered on mobility and energy, while flexibly responding to the market. By continuously enhancing its products and services based on software and AI, Hyundai Motor is poised to lead the transformation in the mobility ecosystem, strengthening its position as a mobility game changer.
“Hyundai Motor will strengthen its position as a game changer by expanding beyond vehicle manufacturing to AAM and other forms of future mobility,” said Jaehoon Chang, President and CEO of Hyundai Motor Company. “Our technological advances will bring a richer and more sustainable future for humanity.”
Interbrand, a global brand consulting firm, annually evaluates major multinational companies. The rankings are based on three factors: an analysis of financial performance, the role of the brand, and the competitive strength of the brand. Hyundai Motor’s rise in this prestigious list is a testament to the company’s consistent growth and robust performance.
“Hyundai Motor’s two-rank increase in this year’s BGB is a testament to the company’s achievements across both the business and branding fronts,” said Jihun Moon, CEO of Interbrand Seoul. New global sales records, in tandem with continuous efforts to fortify the IONIQ and N, propel Hyundai Motors forward in the direction of genuine fandom creation.”
In Nigeria, Hyundai Nigeria, a part of Stallion Motors, assembles and markets a range of Hyundai vehicles at a plant in the Ojo area of Lagos.
