Doosan Infracore has since been renamed Hyundai-Doosan Infracore. Hyundai Construction Equipment and Hyundai-Doosan Infracore will continue to operate under their management systems, competing as sister companies within the global equipment market. Hyundai Genuine will support both businesses while maximising the available synergies between the two.
- Hyundai Construction Equipment and Hyundai-Doosan Infracore to compete within the global equipment market
- Technological synergies will start with joint development of integrated excavator and wheeled loader platforms
- Hydrogen engines to be developed for construction machinery
- R&D to be combined to push technological development
- Further investment in M&A, start-up businesses, automation and electrification
Hyundai Genuine intends to rank among the Global Top 5 construction equipment manufacturers, capturing 5% of global markets by 2025. This will initially be achieved by developing integrated excavator and wheeled loader platforms by 2025 that both companies will utilise.The two manufacturing businesses will combine their research and development efforts to increase technological competitiveness, while sales strengths will increase through mutually complementary machinery ranges.
Further ahead, new investment will rise to secure next-generation business activities. The plans include the development of hydrogen engines for construction equipment, further mergers and acquisitions, investment in start-up businesses and closer industry-university cooperation to develop market-leading expertise in automation and electrification.
Hyundai Heavy Industries Group Chairperson Kwon Oh-gap has vowed to develop the construction equipment business as a core sector of the group, a decision that will be backed by further investment at group level.
