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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 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.
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The group was formed through the purchase of 51% of Kia by Hyundai Motor Company in . As of , Hyundai owns 33.7%[5] of Kia Motors.
On 22 May , the Hyundai Motor Group announced the company would invest an additional $5 billion in the United States by the year . 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]
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The largest member of the chaebol, Hyundai Motor Company, has a 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 , falling short of its sales target.[7] In 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 , behind Japanese Toyota and German Volkswagen Group.[9][needs update] In , it maintained its No. 3 position in the global market while widening its gap with the fourth-ranked Renault-Nissan-Mitsubishi Alliance.[10]
On 17 June , Hyundai Motor India announced its commencement of an initial public offering (IPO) process to list on the Mumbai-based Bombay Stock Exchange.[11][12]
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Hydrogen Wave global online forum was held on 7 September . 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 .[13]
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 , Hyundai suspended development of its Genesis, and possibly its other, hydrogen cars.[14]
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MOTEC are exported all over the world and different industries with quality first. Our belief is to provide our customers with more and better high value-added products. Let's create a better future together.
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Most of us might think of Japan and Germany as the big players in the automotive industry.
South Korea might not be the biggest manufacturer in the world, but it&#;s certainly a rising star, especially among Millennial customers.
As of , South Korea is the 5th biggest producer of cars globally.
The country has seen exponential growth and now makes up for 13% of all manufacturing output in South Korea and 12% of all employment &#; WOW.
With manufacturing giants like Hyundai Motor Group who own Hyundai, Kia, and Genesis, the country is expected to become the 3rd largest manufacturer in .
What&#;s even better?
And these cars don&#;t break the bank either. With used Kia Sportage cars, you can get your hands on some seriously impressive technology for a very competitive price.
With endless technical expertise and knowledge to bring to the automotive industry, South Korean vehicles are transforming the way we drive and view automobiles all over the world.
Here are some reasons why Korean cars are often perceived as more reliable than others:
South Korea is one of the top facilitators for the testing of automated and autonomous vehicles. The testing ground, affectionately named &#;K-City&#;, is located approximately 40km from Seoul, and has the ability to stimulate a multitude of environments to test the cars to their limits.
Korean car manufacturers have incorporated innovative features and technologies into their vehicles, focusing on performance, fuel efficiency, and safety.
The integration of advanced technology contributes to the overall reliability of their cars.
Unlike other manufacturers, they actively listen to customer feedback, conduct research, and implement changes and upgrades based on consumer needs and preferences.
This dedication to improvement helps to enhance the reliability and overall satisfaction of their vehicles.
The launch of Hyundai Motor Group&#;s RoboRide taxi service in Seoul earlier this year marked a turning point in the release of the motor. Like a taxi service but without the driver, these vehicles successfully delivered customers to their destination safely and securely. Needless to say, it&#;s an exciting time for the South Korean car industry and we can&#;t wait to see what they have in store.
Korean car manufacturers, such as Hyundai and Kia, have made significant strides in prioritizing quality and reliability in their vehicles.
They have invested heavily in research, development, and advanced manufacturing processes to improve overall quality control.
As such, they implement rigorous testing and quality assurance procedures throughout the manufacturing process.
This includes extensive testing of components, prototypes, and finished vehicles to identify and address any potential issues before they reach consumers.
Korean car manufacturers often offer generous warranty coverage on their vehicles. This demonstrates their confidence in the quality and reliability of their products, providing consumers with peace of mind and assurance that any potential issues will be resolved.
Korean car manufacturers work closely with a well-established and reliable network of suppliers. They maintain high standards when selecting suppliers, ensuring that quality components are used in their vehicles, which in turn contributes to the overall reliability of the cars.
Over the years, Korean cars have consistently received positive reviews and accolades for their reliability from both industry experts and consumers worldwide. Such recognition further reinforces the perception of Korean cars as reliable vehicles.
For more information, please visit Korean Auto Spare Parts.