Hyundai Motor Achieves Milestone Brand Value of $20.4 Billion, Driven by Electrification Leadership

In a testament to its sustained success and commitment to innovation, Hyundai Motor Company has achieved a milestone brand value of $20.4 billion in Interbrand’s ‘Best Global Brands 2023.’ This remarkable feat represents an 18 percent increase, marking the 13th consecutive year of valuation growth for the company.

Hyundai Motor’s brand rank has surged from 35th to 32nd, showcasing the company’s prominence in the automotive industry’s paradigm shift. This significant rise, the first since 2016, is attributed to Hyundai Motor’s unwavering focus on accelerated electrification and a forward-looking vision for future mobility.

Euisun Chung, Executive Chair of Hyundai Motor Group, has played a pivotal role in guiding the company’s strategic direction. The top management team, under his leadership, has embraced the role of a Smart Mobility Solutions Provider, aligning with the overarching vision of ‘Progress for Humanity.’

Interbrand’s positive appraisal of Hyundai Motor recognizes the company’s agility in responding to the electrification transition, leadership in the future mobility paradigm shift, and sincere commitment to the brand’s vision of ‘Progress for Humanity.’ The IONIQ brand, featuring the award-winning IONIQ 5 and IONIQ 6, stands as a testament to Hyundai Motor’s dedication to innovation and excellence.

Looking ahead, Hyundai Motor remains focused on sustaining its success with the launch of a large flagship electric SUV in 2024. The company is also venturing into the potential of hydrogen high-performance vehicles through N Vision 74, carrying forward the design and spirit of the Pony Coupe.

Since declaring its status as a ‘Smart Mobility Solutions Provider’ in 2020, Hyundai Motor has actively pursued technology innovations through strategic partnerships. Plans to launch an IONIQ 5 robotaxi service in the U.S. and collaborations with Robotics Lab, Boston Dynamics, and Hyundai Motor Group affiliates highlight the company’s commitment to shaping the future of mobility.

Hyundai Motor’s dedication to sustainability, equality, and inclusion is evident in initiatives such as the Healthy Seas campaign and participation in FIFA World Cups. The positive impact resonates globally, with significant increases in brand strength and sales, particularly in North America, Europe, and India.

The financial success of Hyundai Motor is reflected in its third-place ranking in global sales, accompanied by notable gains in profit and revenue. A 21.2 percent rise in annual revenue, a 47 percent increase in annual operating profit, and a year-over-year net profit surge of over 40 percent in 2022 affirm Hyundai Motor’s position as a global automotive leader.

Photo: HYUNDAI

Source: LULOP