The chairman of the Hyundai Motor Group, Euisun Chung, recently visited the Hyundai Motor Manufacturing Czech Plant (HMMC), located in Nosovice, near Ostrava, the Czech Republic, to evaluate the company’s current European activities and talk about future growth plans.
The second-largest global market for electric vehicles after China, Europe is a battleground for environmentally friendly vehicles However, due to major automakers slowing down the pace of electrification and the economic downturn in important countries like Germany and the United Kingdom there has been an increase in uncertainty recently.
Creating a creative growth strategy in the face of global uncertainty
After noticing how swiftly the European auto industry was evolving the chairman of Hyundai Motor Group examined significant local business difficulties at Hyundai Motor Company’s Czech plant—the company’s only EV production base in Europe—and sought to identify novel strategies for future expansion.
A tour of the production line at the Czech factory which is accelerating the creation of a smart manufacturing platform ahead of eventual full-scale electrification was also provided by Euisun Chung to executives and employees.
“The Czech plant is a key base for future investment in eco-friendly mobility vision and technology, and it plays a very important role in the continued success of Hyundai Motor Group despite the uncertainty of the global market,” he said, expressing gratitude to the staff for their commitment, professionalism, and strong support.
European-only product range
As the world’s largest market for environmentally friendly cars, Hyundai Motor Group hopes to strengthen its position in that region and forge new avenues for expansion by quickly and nimbly responding to shifts in the European automotive landscape.
The Hyundai Motor Group also plans to pursue growth initiatives that will enable it to quickly adjust to the European market’s electrification trend. The company’s flagship plug-in hybrid and hybrid vehicles will come in special versions that will enable it to adjust to changes in demand in the European market.
