Hyundai in China: The Competitive Strategies
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Code : COM0113
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Region : China
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China's Automobile Market Before 1978 China was a controlled economy, and only Government-owned companies in the country were allowed tomanufacture automobiles. In 1953, First Automotive Works (FAW) was established with the help of the erstwhile Soviet Union to manufacture trucks. Subsequently, in 1968 China set up Second Auto Works (since renamed Dongfeng Motor Corp). Many regional automobile manufacturers came up during the 1960s and 1970s butmost of these were ill equipped in terms of skill, quality and scale of operations. By 1976, the number of automobile plants in China numbered 53.During this period, the automobile market was completely closed to foreign investment, and foreign imports were also prohibited.. Hyundai in China Chung Ju-Yung founded the Hyundai Group in 1946 as a construction company. At its peak, the Hyundai Group was South Korea's biggest chaebol and had major interests in the areas of shipbuilding, car manufacturing, construction, retailing, finance and electronics. The Hyundai Motor Company (Hyundai) was established in 1967. Hyundai grew in the domestic market by introducing several models of passenger cars, sports utility vehicles and commercial vehicles starting with the model Cortina, introduced in cooperation with Ford, and Pony, the first indigenously built Korean car... |
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