YK Koo, Managing Director and CEO, Hyundai Motor India Ltd (HMIL), has reasons to cheer as the company’s production capacity has been on the rise since he took over in November 2015.
The annual capacity of HMIL has swelled from 600,000 to 700,000 units without raising the footprint. Though seemingly insignificant, it makes big sense as many other players have not been expanding besides, losing market share to competition. HMIL’s contribution to the global sales has increased from 12.97 percent in 2015 to 15 percent in 2017. Almost all the products have shown significant growth. The company is the only manufacturer to win five Indian Car of the Year – ICOTY Awards, and three in a row. Hyundai Verna, Creta, Elite i20, Grand i10, and i10 won the award for 2018, 2016, 2015, 2014 and 2008, respectively.
Yet, Koo is unwilling to rest on his laurels and is looking for ways to drive the company forward. Optimising resources and increasing market share was possible thanks to his diversified work experience of global markets in different assignments with Hyundai Motor Company since he joined it in 1984 in South Korea. Koo is one of the founder members of Hyundai Motor’s India operation in 1997. He left India on other assignments in 2001 and returned in 2008 to stimulate sales and marketing operations.
This story is from the April 2018 edition of Auto Parts Asia.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the April 2018 edition of Auto Parts Asia.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Continental Unfolds Systems, Products For New Mobility
Technology is fast evolving in every sphere of life, especially industry. The big challenge is where to stop and make it commercial, viable and profitable. In the automotive sector the manufacturers are more constrained as the factors of development are complex and triggered extrinsically by the regulators and consumers. They compel the principal automotive suppliers to run ahead and bring about relevant and acceptable technologies.
New Mobility Newer Challenges
The Paris Agreement is to limit global warming to less than two degree Celsius above the preindustrial levels.
New Technologies
To Redefine Future Of Mobility
Meritor India's New Axle Assembly Facility To Expand Product Portfolio
The new axle assembly facility along with a state-of-the-art research and development centre in Mysore at Automotive Axles, Meritor India’s JV with Kalyani Group, will also utilise its capacity and capability for its global requirements.
Airbus
Adept At Managing Complexities Of Extensive Outsourcing, Supply Chain
Hyundai Motor India Fine-Tunes For Production Ramp-Up
YK Koo, Managing Director and CEO, Hyundai Motor India Ltd (HMIL), has reasons to cheer as the company’s production capacity has been on the rise since he took over in November 2015.
Wheels India Engineers Solutions For OEMs
Chennai-headquartered Wheels India, part of the TVS Group, is planning to manufacture cabins for construction and mining equipment.
Omron Offers 3-i Concept For Smart Manufacturing
Omron, a global leader in advanced automation, sensing and control technology, with its 3-i concept provides comprehensive solution for smart manufacturing and enables companies to make world-class in India, meeting Industry 4.0 expectations.
Autoform To Set Up New Plant In Gujarat
RP Group is expecting to clock revenue of Rs250 crore in 2018-19.
Corteco Sees India As Big Market For Growth
Corteco India Private Limited, part of Corteco Global, the sales organisation of the Freudenberg Group specialising in parts for the independent automotive aftermarket, expects significant growth in India.
