Thursday, November 14, 2024
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Hyundai Motor Company Achieves $23 Billion Brand Valuation, Ranks 30th Globally

Hyundai Motor Company has announced a significant milestone, reaching a brand valuation of $23 billion and securing the 30th position in Interbrand’s Best Global Brands 2024 ranking. This marks a remarkable 63% increase in brand value over the past five years and reflects the company’s commitment to innovation and customer engagement.

For the second consecutive year, Hyundai has moved up six spots in the rankings, rising from 36th to 30th place. This achievement is part of a 14-year streak of increasing brand valuation, underscoring the company’s consistent growth trajectory.

Key contributors to Hyundai’s brand value growth include its global initiatives aligned with the company’s vision of “Progress for Humanity.” The IONIQ 5 N’s recent win as the World Performance Car at the 2024 World Car Awards, along with high rankings in the J.D. Power U.S. APEAL Study, highlights Hyundai’s competitive edge in the global automotive market.

Hyundai is also enhancing its global influence through strategic initiatives such as the recently completed Hyundai Motor Group Innovation Center Singapore (HMGICS) and plans for new facilities including the Hyundai Motor Group Metaplant America (HMGMA) and an electric vehicle plant in Ulsan. Additionally, the establishment of a complete knockdown factory in Saudi Arabia further expands its footprint.

Customer engagement efforts have been strengthened through diverse initiatives, including sports sponsorships in archery and FIFA, partnerships with cultural institutions like the Whitney Museum of Art, and the premiere of its first short film, “Night Fishing.” The company also opened its first restaurant, “Na Oh,” in Singapore in collaboration with a Michelin-starred chef, earning accolades at the 2024 Red Dot Award: Brand & Communications Design.

Looking to the future, Hyundai has unveiled its mid- to long-term strategy, “Hyundai Way,” aimed at market leadership through innovation in mobility and energy. The company is focused on leveraging advancements in software and AI to transform the mobility ecosystem and maintain its position as a leader in the industry.

Jaehoon Chang, President and CEO of Hyundai Motor Company, emphasized the company’s commitment to becoming a game changer in future mobility. “Our technological advances will bring a richer and more sustainable future for humanity,” he stated.

The Interbrand rankings assess major multinational companies based on financial performance, brand role, and competitive strength. Hyundai’s rise in this prestigious list reflects its robust performance and dedication to enhancing its brand.

Jihun Moon, CEO of Interbrand Seoul, noted that Hyundai’s two-rank increase in this year’s rankings highlights the company’s achievements in both business and branding, driven by record sales and efforts to cultivate a genuine fan base for its IONIQ and N models.

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