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The history of the creation of the Hyundai Motor company
The Hyundai Group of Companies (Hyundai in Korean means "modernity" or "present time") was founded in 1947 by Jung Joo Yong (1915-2001).
Having passed all the stages of formation and development, starting with a small car repair shop, Hyundai has become the largest South Korean holding company that specializes in various fields of mechanical engineering.
At the time of its heyday, Hyundai Holding was engaged in shipbuilding, production of machine tools, locomotives, construction, petrochemistry, steel production, design and production of electronic equipment, automotive industry.
Hyundai began to engage in the automotive industry in the late 60s.
Initially, an agreement was signed with the British firm Ford for the assembly of Ford Cortina, Ford Granada sedans and Ford D 750 light duty trucks.
Hyundai had not yet produced its own cars at that time.
This state of affairs did not quite suit the management of Hyundai Motor Company, and therefore in 1973 it was decided to start developing and producing its own cars.
In the same year, its own design department was opened.
Three years later, in cooperation with Mitsubishi Motors, the first Hyundai Pony passenger car was created.
Giorgio Giugiaro and his ItalDesign participated in the creation of the car's design.
These circumstances made it possible to make a real sensation at the Turin Motor Show, after which the press vied with each other in praising the design solutions of the car and its elegant design.
The car has gained a lot of popularity in the domestic market and has put Hyundai Motor Company into the leaders of the Korean automotive industry.
After some time, the company began to export the Hyundai Pony to the foreign market under the name Hyundai Exel.
Over the next decades, the Korean economy grew at a record pace, newspapers around the world were full of headlines about the Korean "economic miracle".
Hyundai did not lag behind either.
Production capacities were increased, new branches of production were mastered.
The Hyundai shipyard has made Korea the second world power in the field of shipbuilding, and the Hyundai Electronics subsidiary has become one of the world's largest manufacturers of semiconductors.
In the wake of the rapid economic recovery, Hyundai Motor Company has made large investments in expanding the production capacity of its plant in Ulsan.
It was a breakthrough to the creation of our own technologies and large scale production.
In the mid 80s, having mastered the Canadian car market, Hyundai began to break into the most demanding, but also the most profitable US market, for this purpose the car range was adapted to export markets.
By the 90th year, the company's efforts brought Hyundai Motor Company into the ranks of global players in the automotive industry.
Only in the United States, the total volume of car exports exceeded one million units.
There were constant developments of new models of passenger cars, so in the autumn of 1988 the first show of the Hyundai Sonata car took place.
This car used an engine produced under a license from Mitsubishi Motors, but Hyundai's management relied on creating a car consisting entirely of components and parts of its own design.
By the early 90s, the company began to implement its plans to develop its own technologies.
The first 1.5 liter ALPHA or G4E engine was designed, which used only its own developments.
Two years later, using the accumulated experience, the BETA engine was designed.
Trying to strengthen its position in the global automotive markets, the Hyundai California Design design studio is being created in California, which in January 1992 issued its first HCD I concept car to the world community.
It was this concept car that gave the basis for the creation of original concept cars, including the HCD series, and became the prototype of the spectacular sports model Coupe/Tiburon.
At the same time, the model range of Hyundai cars was already fully formed.
In the autumn of 1990, the Lantra car was introduced to the European market, having the name Elantra on the domestic market.
In 1995, it underwent modernization.
In 1993 and in 1998, the Hyundai Sonata was modernized.
At the same time, a five door five seat Hyundai Lantra Wagon is being produced on the basis of a five seat sedan.
In 1991, Hyundai launched the production of Hyundai Galloper SUVs, the basis for which was the Mitsubishi Pajero of the first generation.
The SUV was produced under the license of Mitsubishi Motors and after passing a number of modifications, it has survived to this day.
At the Geneva Motor Show in 1998, an updated SUV was presented — the Hyundai Galloper II.
At the same time, the production of Hyundai Santamo (Mitsubishi Space Wagon) cars - station wagons of increased capacity was started.
The company marked the year 1994 with the release of a new generation of models of the X 3 series, released under the name Accent (in some countries of the Ropu).
The design of the Hyundai Accent / Pony has undergone changes relative to its predecessor X 2 and even more significant in relation to the angular X 1, acquiring rounded sloping shapes.
In the autumn of 1999, the premiere of the Accent II car of the European generation took place.
In March 1996, at the Geneva Motor Show, a sports coupe Hyundai Coupe, another name Hyundai Tiburon, was shown, which was based on the HCD I concept car.
By the end of 1999, the model had undergone major modifications, but the name Hyundai Coupe / Tiburon remained the same.
At the end of 1997, the first show of the Hyundai Atoz car took place, which was modified in the fall of 1999 and received the new name Hyundai Prime.
Hyundai Motor Company survived the Asian crisis of 1998 relatively well.
And although there was a very sharp decline in sales on the domestic market, a number of new Hyundai models, starting with the Hyundai EF Sonata and Hyundai XG, received high reviews in the international automotive press.
Having survived the crisis, in 1999 Hyundai introduced its four new models: the Hyundai Centennial, the new Hyundai Accent, the updated Hyundai Coupe and the Hyundai Trajet.
The creation of the Trajet model showed the desire of Hyundai Motor Company to get used to new segments of the global automotive market, and in particular in the MPV (comfortable minivan) segment.
This model expanded the range of Hyundai products, and the Dynasty luxury model was upgraded in 1999.
In the same 1999, Hyundai Motors begins production of a luxury five meter Hyundai Equus sedan (another name is Centennial) of the executive class with a 270 horsepower V8 4.5 engine with direct fuel injection GDI (Mitsubishi Motors license).
The model was primarily intended for senior government officials and was equipped accordingly.
Hyundai Motor Company finished 1999 with very good indicators.
The export volume amounted to almost 701 thousand cars, which exceeded all previous achievements, and sales of the domestic market reached the pre crisis level.
All this allowed Hyundai Motor to gain a foothold in the domestic South Korean market and to compete equally with other global automobile companies.
In 2000, South Korea fully recovered from the crisis, but in the eyes of public opinion, super corporations have turned from a symbol of success and prosperity into a symbol of corruption and inefficiency.
Under the new conditions, the government has started a program of restructuring family holdings.
This restructuring also affected the Hyundai holding.
Even during the life of Jung Joo yong, in September 2000, one of the most profitable divisions, the automobile manufacturing company Hyundai Motors, was separated from the holding.
In the same year, the merger of Hyundai Motors and Kia Motor took place, which actually meant the acquisition of the Kia company by the Hyundai concern, which helped to return Hyundai Motor Company to high economic indicators and allowed it to compete adequately in the global automotive market.
In 2001, the Indian automobile plant in Chennai began production of Hyundai Sonata, and the CEO of Hyundai Motor said that the company plans to build a second car assembly plant in India.
In 2002, Hyundai Motor Company and Beijing Automotive Industry Holding Company founded a joint company Beijing Hyundai Motor Company, which became the second automobile plant of the Hyundai Kia Automotive Group in China.
In 2003, 27 years after the first entry of Hyundai Motor into the global automotive market, the company achieved the most outstanding result in its history - the total volume of car exports exceeded 1 million units.
The year 2005 marked a new milestone in the history of Hyundai Motor Company.
This year, the company has released two strategically important models of cars: the Grandeur sedan of the "premium" class and the new Santa Fe, which represents the second generation of SUV cars popular among Hyundai consumers.
The second important event of the year was the opening of an automobile plant in Montgomery (USA, Alabama) in July 2005.
This plant, worth $ 1.1 billion, has become Hyundai's most important strategic base and has allowed the company to firmly establish itself in the North American automotive market.
According to the results of the study of the quality of new cars (Initial Quality StudySM (IQS)) for 2006, Hyundai, according to J. D. Power and Associates, took the first place in the category of "non premium"cars.
Currently, the South Korean firm Hyundai Motor Company, assessing its prospects, is optimistic about the future.
For more than thirty years since its foundation, Hyundai Motor Company has taken a leading position in the Korean automotive industry.
In Europe and in particular in Russia, the Hyundai Accent, Lantra, Lantra Combi, Coupe and Sonata models are selling well.
Hyundai Motor Company continues to strengthen its position in the global market, investing money in car production plants in North America, India, China, opening representative offices in Japan and Europe.
In Russia, there are several enterprises that produce Hyundai cars.
Expansion of the Hyundai i30 line with a new SE model A new Hyundai R Engine diesel engine A new model in the Tucson line Spy photos Hyundai Genesis Coupe 2009 Construction of a new Hyundai plant near St. Petersburg begins
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