[단독] Hyundai Motor Company dismantles its commercial business headquarters… Trucks and buses are also’definitely efficient’

Input 2021.01.29 08:50

Hyundai Motor (005380)Decided to eliminate the commercial business headquarters that oversees the commercial vehicle business such as trucks and buses. In the meantime, the commercial business headquarters was separated from the passenger business and operated like a separate company, but the idea is to integrate them. With this, there is an analysis that the efficiency of the chairman Eui-sun Eui-seon’s organization has been in full swing.

According to the industry on the 29th, Hyundai Motor plans to dismantle the commercial business headquarters sooner or later and carry out a reorganization of the contents of transferring its functions to each business headquarters. The domestic business headquarters will be responsible for domestic sales of commercial vehicles, the overseas business headquarters will be in charge of overseas sales, and the marketing department will also be in charge of commercial vehicle marketing, breaking down the barriers in the passenger vehicle and commercial vehicle sectors. The commercial vehicle research and development (R&D) division has already been integrated into the Namyang Research Center. The reorganization plan will be applied before and after the Lunar New Year holidays.

The dismantling of the commercial business division will be interpreted as part of the organizational efficiency of Hyundai Motor Group Chairman Eui-sun Eui-sun, who is striving to improve its performance and strengthen profitability. Chairman Eui-seon Eui, who took office as the group’s chairman at the end of last year, is working on restructuring the organization to strengthen internal capabilities and business competitiveness in order to preempt the rapidly changing future mobility market.

The GBC design plan was changed to build a global business center (GBC) with three 50-story buildings instead of a high-rise building with 105 floors. This is the case in which the business innovation office was newly established at the domestic business headquarters in order to effectively promote it.

Commercial vehicles are not as large as the passenger car business, but Hyundai is expanding its market overseas, including North America, Europe, and China, and is actively promoting eco-friendly commercial vehicle businesses such as hydrogen electric trucks and buses. For this reason, it is expected that synergy will occur when the passenger vehicle and commercial vehicle divisions are integrated.

Hyundai Motor Group sold a total of 28,7176 commercial vehicles in the domestic and international markets last year. Both domestic and export sales performance declined as transportation demand declined due to the global corona spread, but the global commercial vehicle market is expected to continue to grow as governments are expanding their infrastructure. Hyundai Motor Company has repeatedly revealed its willingness to enter and expand the commercial vehicle market in the US, Europe and China.

Hyundai Motor Company is also planning to expand the hydrogen electric vehicle technology that has been developed in the passenger car business to the commercial vehicle sector. Diesel engines have been applied to commercial vehicles in the meantime, but demand for eco-friendly commercial vehicles is increasing as environmental regulations are strengthened. Hyundai Motor Company plans to launch a total of 17 eco-friendly commercial vehicle models, including 7 electric vehicles and 10 hydrogen electric vehicles by 2025.