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Founded in 1967 in Seoul, South Korea, Hyundai began in 1947 as an engineering and construction company created by Chung Ju-Yung, before becoming the Hyundai Motor Company in 1967. Hyundai is best known for operating the world’s largest integrated automobile manufacturing facility. The facility, located in Ulsan, South Korea, produces an annual volume of 1.6 million units.
The first automobile Hyundai assembled and produced was at that Ulsan facility; the vehicle was called the Cortina, a front-engine rear-wheel drive vehicle similar to the Ford Taunus. Created in cooperation with the Ford Motor Company, the 1968 Cortina cost $1800, or the equivalent of $14,015 in current value. Today, Hyundai makes a variety of cars, SUVs, and trucks. Their current lineup includes models like the Elantra, Accent, Ioniq, Kona, and Santa Cruz. Hyundai sold its highest US sales in 2016 when it sold 768,057 vehicles.With the release of their Ioniq 5, Hyundai is working on their plan to add more electric vehicles to their current lineup. Hyundai recently announced they intend to sell 1.87 million electric vehicles by 2030, investing a large amount of their current available capital into research and development for their EV division. The company also stated that they intend to secure 7% of the total global market share for EVs by 2030 and have all of its new models be electrified from 2025 onward.