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”Growth Rate of Electric Mobility Through Hyundai Motor Company’s Expansion in Indonesia”

 

”Growth Rate of Electric Mobility Through Hyundai Motor Company’s Expansion in Indonesia”

 

Since 1980 in New York, the trend of electric cars has been present. However, the development of electric cars only began in South Korea after its independence in 1945. At that time, the South Korean government was trying to improve its government structure and economy. They are looking for local entrepreneurs who can help build and develop the country’s economy. Chung Ju Yung, the founder of Hyundai, saw this opportunity. In 1947, he started the construction company we now know as “Hyundai”. The name “Hyundai” comes from the Korean language meaning “modern age”. Chung Ju Yung wants this company to be a representative of an advanced and innovative era in technology, especially in the field of motor vehicles. Hyundai Motor Company is part of the Hyundai Motor Group, based in South Korea, and focuses on the automotive industry. In 1947, Hyundai’s founder, Chung Ju Yung, began the development of Hyundai Engineering. Then, Hyundai began to collaborate with Ford Motor Company, an American car company founded by Henry Ford in Michigan.

After a partnership between Hyundai Motors Group (HMG) and Ford Motors Company (FMC), in 1967, Hyundai Motors Company was founded. Production began in 1968 with the launch of the first model, the Cortina, which was produced in Ulsan, South Korea. Hyundai entered the international market by shipping its first car, the Pony, to countries such as Argentina, Chile, Colombia, and Egypt in 1976. This success gave Hyundai the courage to expand into Europe in 1980, embarking on a major step in their international expansion. Hyundai is expanding their market coverage by setting up factories in various countries, not just in South Korea. These factories are spread across Turkey, China, North Source : Google

America, the Czech Republic, and Pakistan. From these production facilities, Hyundai is able to produce up to 1.6 million units of cars. With a widespread production infrastructure, Hyundai has managed to reach 193 countries around the world. Hyundai’s rapid growth has resulted in the establishment of six development centers in various locations, including three in South Korea, one in Japan, one in Germany, and one in India.

Therefore, the expansion carried out by Hyundai can be considered a successful achievement, which goes beyond simply increasing sales in various countries. This success is reflected in the results of a survey conducted by J.D. Power and Associates in 2006, J.D. Power and Associates is known as a consumer intelligence and analysis company that conducts surveys for the global automotive industry. In their research, Hyundai managed to rank third in terms of quality, only below Porsche and Lexus, although the time given for the assessment was relatively short. This shows that Hyundai has managed to set high quality standards and compete with the big players in the global automotive industry. Hyundai entered its international market in Indonesia in 1995 through a Brand Holder Agent (APM), namely PT. Image of Indonesian Cars. Just a year later, in 1996, Hyundai Motors Company established PT. Hyundai Motors Indonesia. After entering the Indonesian market, Hyundai introduced its first electric car, the Hyundai IONIQ, in 2016. The name “IONIQ” itself combines the words “Ion” and “Unique”, highlighting the innovative nature and uniqueness of the car. The full support of the Indonesian government came during the leadership of President Joko Widodo in 2019. President Jokowi gave full support to make Indonesia the center of the world’s electric car industry. This marks an important step in promoting the development and adoption of electric vehicles in Indonesia, as well as providing an impetus for Hyundai and other automakers to invest and innovate in this market.

This issue has a significant influence where the interaction between economic interests and political processes plays a role in shaping government policies. The expansion carried out by Hyundai Motors Company in Indonesia is an interesting focal point, because this has the potential to give birth to certain policies and affect the Indonesian government’s strategy in taking advantage of the company’s expansion. By understanding these dynamics, we can better understand how the relationship between the private and public sectors interacts in the context of economic and geopolitical globalization.

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