hyundai intro - Introduction o Hyundai Motor is one of the...

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Introduction o Hyundai Motor is one of the leading manufacturers of automobiles in the world. The company focuses mainly on producing automobiles, including many forms of passenger vehicles. Hyundai is headquartered in Seoul, South Korea, with manufacturing occurring in the US, China, India and Europe. Hyundai Motor was founded in 1967, followed by signing a licensing agreement with Ford Motor the next year. In 1976 the company began its own development process on passenger vehicles, cargo and dump trucks. Hyundai Motor also partnered with Mitsubishi in 1981 to create new technology for the company, and branched off on its own in the early 1990's. Hyundai later purchased Kia Motors in late 1998. The company continued to expand by building a new manufacturing plant in China and created an alliance in 2000 with DaimlerChrysler. DaimlerChrysler sold its stake in the company back to Hyundai and ended the alliance in 2004. Hyundai Motor is owned by Hyundai Group, which owns many other companies as well. These companies cover a wide range of markets including finance, shipbuilding, logistics, and electronics. Hyundai motor alone has 24 overseas manufacturing plants, over 6,000 sales points, and carries distributors in 180 countries worldwide. Hyundai Motor primarily operates through the non-financial industry, but also does business in the financial industry. The design, development, and manufacturing of automobiles falls under the non-financial industry, while the financial industry includes business services such as financing to dealers and their customers for leasing and purchasing. The company has continued to grow, selling 1.6 million vehicles in 2009. Hyundai Motors currently has 17 research and development subsidiaries that focus on creating new innovation through recycling, improving fuel efficiency, reducing exhaust emissions, recycling, and producing vehicles that are environmentally friendly. (Datamonitor, 2010, pps. 4-5) o Hyundai Motor believes in the following mission statement, "To create exceptional automotive value for our customers by harmoniously blending safety, quality and efficiency. With our diverse team, we will provide responsible stewardship to our community and environment while achieving stability and security now and for future generations." Hyundai Group, including Hyundai Motor, has many NAIC codes related to the different industries it operates in. These codes include 423390 for Other Construction Material Merchant Wholesalers; 423830 Industrial Machinery and Equipment Merchant Wholesalers. Hyundai’s key products and services include passenger vehicles,
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This note was uploaded on 11/30/2011 for the course MNGT 349 taught by Professor Na during the Spring '11 term at Western Illinois University.

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hyundai intro - Introduction o Hyundai Motor is one of the...

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