Hyundai 2002 Annual Report Download - page 8

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America. Hyundai Motor's investment in Montgomery represents a commitment to reach American car
buyers and to build on market-leading growth in the region over the past few years. Work on the US$1
billion Montgomery assembly plant began in 2002 and will be completed in 2005. The Alabama facility
will be able to produce 300,000 next-generation Sonata and Santa Fe models annually at full capacity,
employing over 2,000 local residents in every facet of production. For our company it means significant
improvements in cost efficiency and logistics, and in market specificity with American-made Hyundai
cars targeting American car buyers. For the community it means an enriched business environment and
the integration of large-scale industries in the area, notably in steel, auto parts and shipping.
Europe. Hyundai Motor is expanding its European headquarters in Russelsheim, Germany as part of
the company's global strategy of localization and region-specific product growth. The US$34.1 million
complex when it opens its doors in the summer of 2003 will employ more than 300 people in design,
R&D and marketing. This integrates every aspect of development prior to production and expands the
scope of the existing center. The investment represents our growing market share in the region and
correlates with other ongoing expansion projects in North America, South Korea and other countries in
Asia. Work at the new facility will build on the success of our European product line, including the
Matrix and Hyundai's newest entry in the supermini class, the Getz.
Left: Hyundai Motor and Alabama officials
inaugurate the site of the Hyundai Motor
Montgomery assembly plant to begin
production in 2005. Right: Chairman
Chung Mong-Koo speaks at the
groundbreaking ceremony of Hyundai
Motor’s new European headquarters to be
completed this year.
15
Corporate History
1967 Launch of Hyundai Motor
Company 1968 Signing of licensing
agreement with Ford Motor Company
1974 Launch of Korea’s first
independently designed and manufactured
automobile, the Hyundai Pony 1976 First
export of Hyundai Pony to Guatemala and El
Salvador 1980 Launch of Hyundai
Granada Launch of Hyundai Mark V
1981 Signing of technical alliance with
Mitsubishi 1982 Launch of Hyundai
Pony 2 1983 First export of Hyundai
Motor cars to Canada Launch of Hyundai
Stellar 1984 Completion of proving
ground in Ulsan, South Korea Cumulative
production of Hyundai Pony reaches 500,000
units 1985 Launch of Hyundai Excel
Establishment of Hyundai Motor America
(HMA) 1986 First export of Hyundai
Excel to the US Launch of Hyundai
Grandeur near-luxury sedan Completion of
export shipping port in South Korea
1988 Third consecutive year for Hyundai
Excel as best-selling import subcompact in
the US Launch of Hyundai’s Sonata mid-
size sedan 1989 Completion of V6-engine
plant 1990 Launch of Hyundai Scoupe
sports car Launch of Hyundai Elantra
1991 Launch of Korea’s first proprietary
engine, the Alpha engine 1992 Launch of
Hyundai New Grandeur Development of
Korea’s first HCD-1 concept car
1993 Launch of Hyundai Sonata II
Completion of Hyundai Excel assembly
and production plant in Thailand
1994 Launch of Hyundai Accent
subcompact Development of hydrogen fuel
cell vehicle Completion of Hyundai Excel
assembly and production plant in
Zimbabwe 1995 Introduction of Hyundai
HCD-III concept car Introduction of the
Continuously Variable Transmission
Launch of Hyundai Marcia near- luxury
sedan Introduction of the high-output, fuel-
efficient Beta engine Launch of Hyundai
Lantra Hosting of the first Korean
automotive design contest Completion of
commercial vehicle engineering & research
center in Jeonju, South Korea
1996 Introduction of AVCS (Automotive
Voice Control System) Launch of Hyundai
Coupe Launch of Hyundai Dynasty full-size
luxury sedan Completion of R&D center in
Namyang, South Korea Cumulative exports
surpass 4 million units Cumulative
production surpasses 10 million units
1997 Launch of Hyundai Dynasty
limousine Launch of New H-1
Hyundai Motor is expanding its
operations in the most competitive
markets in the world, following
industry-leading growth in sales and
brand power in recent years.