Hyundai is the world's sixth largest car manufacturer. In Ulsan, South Korea, Hyundai operates the world's largest car manufacturing facility, which is capable of producing 1.6 million vehicles each year. The Hyundai slanted H logo is said to be symbolic of two people (the company and customer) shaking hands - and this philosophy has seen the company come a long way in a very short space of time. In Korean, Hyundai means modern or modernity. Hyundai Motor Company is a company based in South Korea which has been known to be a manufacturer of automobiles and vehicles. In fact, in the mentioned country, Hyundai is the largest creator of modern vehicles. Along with vehicles and automobiles, Hyundai also creates Hyundai Accessories for the various Hyundai owners around the globe. Faced with a choice of trying to become a Korean me-to Toyota-style manufacturer of mass market cars or doing something a little different, Hyundai took the decision to become a niche market player, manufacturers of individualistic cars with reliable price. Hyundai is known for its reliability, dependability and carries a great line up of product offering the latest design and technology clubbed with affordable price tag.
Hyundai Motor realized automotive independence by developing the first Korea-designed Alpha engine and transmission in 1991. In 2004, it achieved another milestone by developing Korea's first export engine, the Theta World engine. In 2006, we developed the 3.0-liter V6 S-passenger diesel engine for our Veracruz model and in 2007, introduced a full line-up of engines for commercial vehicles with the F (3.9 liter), G (5.9 liter) and H (10 liter) engines. In 2008, with the rear-wheel drive Lambda 3.3/3.8 liter and Tau 4.6-liter engines outfitted in the Genesis, Hyundai Kia is showcasing its leading engine technology to the world.
Ever since the Powertrain Center designed Korea's first engine, it has continued to be at the forefront of commercializing technology breakthroughs. Its green engine offers innovative fuel savings and lower exhaust emissions. The Center is now pursuing the development of a clean diesel engine that runs on ethanol E85 (containing 85% ethanol) to secure CAFE (Corporate Average Fuel Economy - North American fuel regulation) credits. Our engineers are hard at work developing region-specific engines for Europe, South America, China and India as an answer to soaring oil prices and changing environmental policies.
In response to increasingly stringent regulations on exhaust emissions, the Powertrain Center is stepping up its efforts to develop technologies that raise fuel efficiency, lighten vehicle weight, lower friction and improve driving power. Additionally, the Center is working on development of powertrains for hybrid electric vehicles.
Hyundai motors do not seem to be very much affected with their export dreams for India with the appreciation of the rupee. With the launch of i10, the car maker is expecting its export growth going high to 1.20 lakh units compared to 1.15 lakh in 2006.
Hyundai's Chennai plant will be concentrating on the small cars segment like Getz and Santro. And with the operation of the second plant this year, the export will be double for Getz and Santro cars to European and other markets such as South Africa and South America from 2008. Beside their domestic market the company is also concentrating exporting advanced version of Santro cars to Europe, West Asia and African markets.
Today, Hyundai produces the most segment leaders of any car manufacturer. The decision started to pay off by the start of the new millennium as the quality, performance and overall desirability of Hyundai cars increased sharply. The company has also smoothed over any lingering doubts about quality by enacting an extraordinarily long warranty period. Though Hyundai's product lineup is smaller than those of most other manufacturers, it gains economies of scale through Kia, another Korean auto brand, which it purchased in 1998. These days, Hyundai is known for producing vehicles that offer great value at low prices.