Lee Min-hyung joined The Korea Times in 2014 and has worked as a journalist mainly in Korea’s finance, tech and automotive industry. He specializes in content creation, breaking news and in-depth analysis currently on transportation and mobility. You can reach him via mhlee@koreatimes.co.kr.
Hyundai Motor achieves accumulated vehicle production of 100 mil.
Hyundai Motor's IONIQ 5 is seen ahead of its delivery to a customer, at the carmaker's manufacturing facility in the nation's southeastern city of Ulsan, Monday. Courtesy of Hyundai Motor
By Lee Min-hyung
Hyundai Motor has set a new milestone by completing production on its 100 millionth vehicle after 57 years, the carmaker said Monday.
The achievement was powered by the firm's growing global presence in recent decades. In 1986, the carmaker produced its one-millionth vehicle on the popularity of its first independently developed vehicle, the Pony.
The vehicle also comes with symbolic significance to Hyundai Motor, as it was the first exported car manufactured by the carmaker. The Pony was available for sale in Ecuador in 1976, and the Pony Excel, the first front-wheel-drive vehicle produced in Korea, was also shipped to the United States in 1986.
The company has since joined the ranks of global carmakers by aggressively expanding its production bases into overseas territories, such as the U.S., the Czech Republic and India.
The carmaker is now capable of manufacturing more than 5 million vehicles annually with multiple production lines around the world. Its flexible production capability is considered one of Hyundai Motor's major upsides, compared with rival carmakers.
With more than half a century of history, Hyundai Motor Group became the world's third-largest carmaker in 2023 in terms of vehicle sales, following Toyota and Volkswagen.
Hyundai Motor is now placing its strategic focus on enhancing its identity as a global electric vehicle (EV) maker. The firm developed its much-touted E-GMP EV platform used by most electric models within the group.
The flagship IONIQ 5 EV is particularly drawing robust market responses here and abroad.
Hyundai Motor held a special event to deliver its 100 millionth vehicle to a customer in his 20s here, who had ordered an IONIQ 5.
"The latest achievement was enabled by our global customers who have trusted and supported us," Hyundai Motor CEO Chang Jae-hoon said. "Hyundai Motor has taken bold steps and engaged in in-depth research, both of which are the key driving forces behind our rapid growth. Now we will move one step closer to becoming a game changer in the mobility industry."