It’s been said, in order to understand where you’re going, you have to know where you’ve been. If you, like many other automotive enthusiasts, are watching the waves of innovation the Hyundai brand is making, you might be wondering how the South Korean brand became such a leader in the industry. For that, let’s take a trip into the past to explore how Hyundai became the automotive giant it is today.
The Hyundai Engineering and Construction Company was founded after the liberation of South Korea, in 1945. The very name of the company, which means “Modern Times,” was a sign of things to come. When it was founded, the company wasn’t only an automotive company. I was also a construction firm granted several government contracts to help rebuild South Korea, expanding the country’s infrastructure with projects like the Kyeong-by Expressway. With Hyundai’s help, South Korea rapidly joined the industrialized world and never stopped growing.
Two decades later, the Hyundai Motor Company was founded and in 1969, the building of the Ulsan assembly plant was completed. The assembly plant is now the world’s largest integrated automobile manufacturing facility, capable of producing up to 1.6 million units per year.
The first vehicle assembled at the Ulsan plant was the Cortina, a model created in cooperation with the Ford Motor Company. The Cortina dominated the European market and following its success, Hyundai decided to create a vehicle of its own.
Hyundai hired George Turnbull and a team of six European engineers to create the first Hyundai original vehicle. The result was the Hyundai Pony, a compact car with rear-wheel drive and exterior styling by Giorgetto Giugiaro. It was nicknamed “the car of the people” and became Hyundai’s flagship vehicle. It was also the first mass-produced vehicle in South Korea.
The 1980s marked Hyundai's rapid international expansion, beginning with the introduction of the Pony in the UK in 1982 and subsequently in Canada in 1984, where it became the top-selling car. The company also launched the first-generation Hyundai Sonata in 1985 and celebrated producing its one-millionth car. In 1986, Hyundai entered the U.S. market with the Pony Excel, which sold 168,000 units in its first year, setting a record and earning it a spot in Fortune magazine's 'Best Product' list.
In the 1990s, Hyundai produced its four millionth car, developed its first proprietary engine and transmission, and launched several models including the Accent, Dynasty, and Tiburon. The 90s also saw continued global expansion as the company established an R&D center in Germany in 1994 and opened a manufacturing plant in Turkey in 1997. Additionally, Hyundai experimented with electric and hybrid vehicles, unveiling the Sonata Electric Vehicle in 1991 and the hybrid-electric FGV-1 in 1995.
By the turn of the millennium, Hyundai began overhauling its image to establish itself as a world-class brand, investing heavily in quality, design, and long-term research, particularly in Europe, where it established the European Design Center in 2001 and the Technical Center in 2003. The company launched its first SUV, the Santa Fe, in 2000, which quickly became a best-seller, followed by the Tucson in 2004. In 2007, Hyundai introduced the i30, designed and manufactured in Europe, and in 2008, the hybrid electric Sonata debuted, featuring lithium polymer battery technology.
Throughout the 2010s, Hyundai focused on environmentally friendly vehicles and technology, aiming to lead in pollution-free mobility. The company launched its first production electric car, BlueOn, in 2010, followed by the ix35 Fuel Cell in 2013, the first mass-produced hydrogen fuel cell vehicle. Significant advancements included the introduction of the IONIQ with three electrified powertrains in 2016 and the Kona Electric in 2018, establishing Hyundai as a leader in future mobility. In 2019, Executive Vice Chairman Euisun Chung emphasized Hyundai's commitment to hydrogen technologies with the 'FCEV Vision 2030' plan to boost fuel cell production and explore new business opportunities.
