{"id":5426,"date":"2024-02-26T08:16:02","date_gmt":"2024-02-26T01:16:02","guid":{"rendered":"https:\/\/wam.vn\/en\/?p=5426"},"modified":"2024-02-26T08:16:02","modified_gmt":"2024-02-26T01:16:02","slug":"how-hyundai-became-the-third-largest-automaker-in-the-world","status":"publish","type":"post","link":"https:\/\/wam.vn\/en\/how-hyundai-became-the-third-largest-automaker-in-the-world\/","title":{"rendered":"How Hyundai Became The Third Largest Automaker In The World"},"content":{"rendered":"<p><em><strong>TLDR<\/strong>: <\/em>Hyundai, now the third largest automaker, has evolved from a low-quality brand to a technological and design innovator in EVs and beyond, facing challenges with resilience.<\/p>\n<p>This article is a summary of a You Tube video &#8220;How Hyundai Became The Third Largest Automaker In The World&#8221; by CNBC<br \/>\n<iframe title=\"YouTube video player\" src=\"https:\/\/www.youtube.com\/embed\/4-6wZtU3wj4?si=ZYQb1FWfluhmorX8\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<h3>Key Takeaways:<\/h3>\n<ol>\n<li><strong>Rapid Growth<\/strong>: Hyundai Motor Group has risen to become the third largest automaker in the world, showcasing significant growth and overcoming its initial reputation as a low-quality brand.<\/li>\n<li><strong>EV Innovation and Sales<\/strong>: Hyundai and Kia are making notable strides in the electric vehicle (EV) market, challenging leaders like Tesla, particularly with their E-GMP platform and successful models like the Ioniq 5.<\/li>\n<li><strong>Technological Ambitions<\/strong>: Beyond EVs, Hyundai is investing in robotics, autonomous driving, flying taxis, and other futuristic technologies, aiming to position itself as a technology leader.<\/li>\n<li><strong>Quality Transformation<\/strong>: Hyundai made a remarkable turnaround in quality and safety, adopting best practices from leading automakers and introducing rigorous quality checks and a notable warranty program.<\/li>\n<li><strong>Market Strategy<\/strong>: By offering competitive leasing options and not fully qualifying for federal EV tax credits, Hyundai still managed to boost its lease rates and EV sales.<\/li>\n<li><strong>Global and US Market Position<\/strong>: Hyundai has achieved significant sales milestones, becoming the fourth most popular brand in the U.S. and breaking sales records in 2023.<\/li>\n<li><strong>Design and Branding<\/strong>: Recruitment of renowned designers and engineers from Europe has helped transform Hyundai, Kia, and Genesis vehicles into attractive and innovative products.<\/li>\n<li><strong>Challenges and Setbacks<\/strong>: Despite its successes, Hyundai has faced issues like vehicle recalls over fire risks, thefts due to lack of engine immobilizers, and labor movement challenges in the U.S.<\/li>\n<li><strong>Adaptation and Commitment<\/strong>: Hyundai continues to adapt to market demands and regulatory challenges, investing heavily in manufacturing and technology development in the U.S. and globally.<\/li>\n<li><strong>Future Outlook<\/strong>: Hyundai&#8217;s commitment to innovation, flexibility in production (hybrids, EVs, hydrogen vehicles), and new ventures like online car sales with Amazon, indicate a forward-looking strategy aimed at maintaining its competitive edge.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>Hyundai, now the third largest automaker, has evolved from a low-quality brand to a technological and design innovator in EVs and beyond, facing challenges with resilience.<\/p>\n","protected":false},"author":3,"featured_media":5427,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[],"class_list":["post-5426","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-43","description-off"],"_links":{"self":[{"href":"https:\/\/wam.vn\/en\/wp-json\/wp\/v2\/posts\/5426","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wam.vn\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wam.vn\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wam.vn\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/wam.vn\/en\/wp-json\/wp\/v2\/comments?post=5426"}],"version-history":[{"count":1,"href":"https:\/\/wam.vn\/en\/wp-json\/wp\/v2\/posts\/5426\/revisions"}],"predecessor-version":[{"id":5428,"href":"https:\/\/wam.vn\/en\/wp-json\/wp\/v2\/posts\/5426\/revisions\/5428"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wam.vn\/en\/wp-json\/wp\/v2\/media\/5427"}],"wp:attachment":[{"href":"https:\/\/wam.vn\/en\/wp-json\/wp\/v2\/media?parent=5426"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wam.vn\/en\/wp-json\/wp\/v2\/categories?post=5426"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wam.vn\/en\/wp-json\/wp\/v2\/tags?post=5426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}