Hyundai Motor is one of the leading manufacturers of automobiles in the
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
Hyundai later purchased Kia Motors in late 1998.
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.
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.
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
(Datamonitor, 2010, pps. 4-5)
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.
include 423390 for Other Construction Material Merchant
Wholesalers; 423830 Industrial Machinery and Equipment
Hyundai’s key products and services include passenger vehicles,