South Korean multinational conglomerate
The Hyundai Motor Group (HMG; IPA: [ˈhjəːndɛ];[2] stylized as HYUNDAI) is a South Korean chaebol (loosely similar to a multinational conglomerate but without a central holding company or ownership structure)[3][4] headquartered in Seoul, South Korea.
The HMG also refers to the group of affiliated companies interconnected by complex shareholding arrangements, with Hyundai Motor Company regarded as the de facto representative of the group. It is the third-largest South Korean chaebol, after Samsung Group and SK Group, related to other Hyundai-name industries following a specialized development split and restructuring which resulted in Hyundai Motor group, Hyundai Heavy Industries Group, Hyundai Development Company Group, Hyundai Department Store Group, and Hyundai Marine & Fire Insurance.
History
The group was formed through the purchase of 51% of Kia by Hyundai Motor Company in 1998. As of 2011, Hyundai owns 33.7%[5] of Kia Motors.
On 22 May 2022, the Hyundai Motor Group announced the company would invest an additional $5 billion in the United States by the year 2025. The investment would strengthen collaboration with US firms in areas such as; urban air mobility, autonomous driving, artificial intelligence, and robotics. The investments were announced during a visit to South Korea by President Biden.[6]
Businesses
The largest member of the chaebol, Hyundai Motor Company, has a controlling stake in Kia, and they are the largest and second largest car manufacturers in the country respectively. Following several years of rapid growth, the Group sold 8.01 million vehicles in 2015, falling short of its sales target.[7] In 2017 the Group sold 7.25 million vehicles, the lowest in five years at that point.[8] According to the Organisation Internationale des Constructeurs d'Automobiles, it was the world's third-largest vehicle manufacturer by production volume in 2017, behind Japanese Toyota and German Volkswagen Group.[9][needs update] In 2023, it maintained its No. 3 position in the global market while widening its gap with the fourth-ranked Renault-Nissan-Mitsubishi Alliance. [10]
Hydrogen
Hydrogen Wave global online forum was held on 7 September 2021. Hyundai Motor Group (the Group) set out the vision of the hydrogen business and the substance of hydrogen fuel cells and hydrogen mobility. In addition, the Group has set out Hydrogen Vision 2040.[11]
Vision FK, a high-performance hydrogen fuel cell vehicle, was unveiled. Vision FK does not use standard, common vehicle parts and combines Hydrogen Fuel Cell System and PE System developed under collaboration with Limak. Hydrogen Fuel Cell System is utilized as a main power source during FK's low speed driving or for the management of battery condition. Two of 2 kg hydrogen fuel tanks are located above the rear axle. Also, the 2nd generation fuel cell stacks, with the power of average 85 kW to maximum 95 kW, are located above the front axle. PE System that consists of two motor drives, decelerator, inverter, and battery, helps to exercise power during the high speed or dynamic driving. The total output of two motor drives applied to the rear-wheel is over 500 kW.
In December 2021, Hyundai suspended development of its Genesis, and possibly its other, hydrogen cars.[12]
Campaign
- 2015 Going Home – Enabling displaced people to virtually visit their hometown by using 3D restoration technology
- 2017 Chatty School Bus – School bus for hearing-impaired children applied with sketchbook window technology
- 2018 The Quiet taxi – Taxi applied with audio-tactile conversion (ATC) system for hearing-impaired taxi driver
- 2020 Little Big e-Motion – Kids mobility featuring emotion recognition technology
- 2021 Dear My Hero - Improving sanitation workers' work environment through hydrogen garbage truck
3,890,726 vehicles (2021)
US$5.22 billion (2018)
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