Chung Ju-Yung founded the Hyundai Motor Company in 1947 as Hyundai Engineering and Construction Co. Hyundai Motor Co. (HMC), established in 1967, is the auto sales leader in the Korean domestic market and exports vehicles to 190 countries worldwide.
Hyundai Motor Co. operates the world’s largest integrated automobile manufacturing facility in Ulsan, located on Korea’s southeast coast.
It has an annual production capacity of 1.6 million units. The company employs about 75,000 people worldwide. Hyundai vehicles are sold in 193 countries through some 5,000 dealerships and showrooms.
In 1996, Hyundai opened the Namyang Technology Research Center, which includes a complete testing facility with a 2.8-mile oval test track and a new $40 million aeroacoustic wind tunnel.
That same year, HMC began production at its state-of-the-art Asan Plant, located southeast of Seoul.
Hyundai now operates eight research centers in Korea along with four international centers, including Hyundai America Technical Center, Inc., in Ann Arbor, MI, and Hyundai California Design Center in Fountain Valley, CA.
Hyundai’s automotive technology centers employ approximately 4,100 researchers with an annual budget of five percent of current revenues.
Current research projects include: electric-powered vehicles, low-emission gasoline engines, solar- powered vehicles, hydrogen-powered fuel cell vehicles and other alternative fuel vehicles.
Hyundai’s cars and sport utility vehicles continue to provide customers a high level of content and performance at an affordable price.
Every vehicle in the lineup demonstrates Hyundai’s emergence as an auto manufacturer whose products compete successfully in technology, quality, styling and refinement with automobiles from around the world.
According to hmmausa.com