Hyundai 2000 Annual Report Download - page 21

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Hyundai Motor has
acquired sufficient
economies of scale to
compete on an equal footing with
global automakers. Total annual
production capacity now reaches 2.4
million units with our domestic plants
at Ulsan, Asan and Chonju accounting
for 1.9 million units and overseas
plants such as those in India
comprising 500,000 units.
On the heels of the launch of the
Verna subcompact in 1999, Hyundai
Motor reinforced its position as
Korea’s leading automaker in 2000
with the successful launch of the new
Santa Fe SUV and Avante XD
compact sedan. The Ulsan plant,
which stands on a 4.8 million sq.m.
(1.45 million pyong) site, is comprised
of four plants that are capable of
producing 1.5 million minicars, SUVs,
vans and light commercial vehicles
per year earning it the title of the
world’s largest car plant. The Asan
plant specializes in the production of
passenger cars and has annual
production capacity of 300,000 units of
the new EF Sonata mid-size sedan
and the Grandeur XG luxury sedan.
The Chonju plant, dedicated to the
production of commercial vehicles,
has annual production capacity of
100,000 mid- and large-size buses,
trucks and special-purpose vehicles.
In the face of intensifying competition
in overseas markets, Hyundai Motor is
determined to raise productivity levels
on par with the global top five
automakers by 2005. In addition to the
numerous CKD production bases
overseas, the company operates
partially or fully-invested plants which
have independent and self-sufficient
manufacturing capabilities. Located in
Turkey, India and China, these plants
play a pivotal role in the company’s
plans to globalize its business
operations. In India, the company
operates a fully-owned subsidiary
which is producing the Santro minicar
and Accent subcompact sedan. In line
with these business globalization
strategies, Hyundai has been
accelerating its drive to expand its
overseas manufacturing bases to
China which is emerging as one of the
biggest car markets in the world.
The company has also embarked on a
more aggressive advance into the
European markets.
From the Pony, the first passenger car
made with proprietary Korean
technologies to the recently unveiled
Terracan SUV, Hyundai’ automobile
business has made significant strides
to earn the undisputed title of Korea’s
number one carmaker. The company
is now advancing to the next level with
the export of the Grandeur XG luxury
car which signals the company’s
strategy to move up-market into new
segments and compete on a higher
level. The quality and performance of
the Grandeur XG have received
critical acclaim in the international
motoring press.
Encouraging export results, strong
customer loyalty and enthusiastic
product reviews are encouraging and
bolster our confidence that we will be
able to reinforce our position in the
global market as one of the fastest
growing automakers in the world.
19
Hyundai Motor Company • 2000 Annual Report