The Hyundai Motor Company is known to one and all as the best automobile companies in the World. The company saw its beginning in the year 1947 but the very first inception was seen in the year 1967. It was then that Chung Ju Yung incorporated the company named ‘Hyundai Engineering and Construction Company’ and this company has a goal to reconstruct Korea after the war. Later in the 1950, when North Korea was invaded, the projects were abandoned and the founder moved to Busan to stay with his brother. Even after he moved to Busan, he continued to work on the projects they would get from UN and this paved way to the start of the Hyundai Motor Company in the year 1967.
It was in the year 1968 that Hyundai introduced its very first car, and this was manufactured incorporation with none other than the Ford motor Company. After this, Hyundai realized that there was indeed a huge prospective in the automobile industry and decided to develop cars under their own brand name. It was then when Chung Ju Yung hired George Turnbull.
George then created 5 top vehicles for the brand Hyundai and later went on to hire five more excellent car engineers from Britain and it was in the year 1975 that Hyundai went on to produce its second vehicle. This was the Hyundai Pony and this was also known to be the very first mass produced vehicle. This was the start of a a successful company; in Korea and globally.
From Year 1975 – 1985
This was the year when the remarkable Hyundai Pony marked is grand debut. After a year later, the company got into mass production and it was in the year 1977 that the firm started exporting the vehicles to other Benelux countries. After which, the 80s were indeed very successful for Hyundai and this was when they started exported Pony to China.
It was during these years that the firm made a number of attempts to export their vehicles to US but when the vehicle Pony failed to meet the standards for emission, these exports were placed on hold. In the year 1985, the sales of Pony exceeded the expectations and it also became the top selling model in Canada. Just only after 10 years of establishment that the 1 millionth Hyundai was manufactured.
From Year 1985- 1995
It was in the year 1986 that Hyundai released the greatest vehicle of all time and it was named as Excel. It was released as a redesigned model of Pony and they made sure that this had very low CO2 emissions. This helped Hyundai to export their cars to US markets and this made Excel successful. This model from Hyundai sold more than 100,000 units in less than 7 months and this was also nominated for the “Best Product#10” by the Fortune Magazine and the main reason behind this was that the vehicle was budget friendly.
It was in year 1988 that Hyundai began making its own cars using its own technologies. This was when the popular Sanata was born.
From 1995 – 2000+
In the year 1996, Hyundai started its production plant in Chennai India and also formed Hyundai Motor India Limited to boost its sales in India. Just after 2 years, Hyundai emerged as a world leader and as a world class brand as it introduced some efficient and reliable vehicles.
The leadership of Hyundai was then transferred over to Chung Mong Koo, the son of Chung Ju Yung due to his ill health. As of the recent updates, Hyundai is now the fifth largest car maker in the World and the company now has a production of more than 4,721,156 units and its revenue exceeding more than $86 billion.