New engine supply joint venture between Hyundai and Cummins

Hyundai Heavy Industries (HHI) and Cummins are setting up a joint venture to produce engines in South Korea for the earthmoving equipment market. The two companies are investing US$33 million each into the project, which will be called Hyundai Cummins Engine Company and will have its factory located in Daegu. Production is scheduled to commence in 2014, with capacity reaching 50,000 engines/year once the facility is fully commissioned.
September 26, 2012 Read time: 1 min
The strategic joint venture between Hyundai and Cummins for engine production in South Korea will provide business growth for both partners
236 Hyundai Heavy Industries (HHI) and 196 Cummins are setting up a joint venture to produce engines in South Korea for the earthmoving equipment market. The two companies are investing US$33 million each into the project, which will be called Hyundai Cummins Engine Company and will have its factory located in Daegu. Production is scheduled to commence in 2014, with capacity reaching 50,000 engines/year once the facility is fully commissioned. This factory will provide HHI with a steady supply of high quality engines that can be made available to meet market demands. Sales are expected to reach $282 million in 2014 and are predicted to grow, with a target of $3.53 billion set for 2022 by which time the plant should employ 5,300. HHI says that the new joint venture forms part of its plans to become one of the world’s top three manufacturers of construction equipment by 2016 on annual sales of $9.1 billion.

For more information on companies in this article

Related Content

  • Asphalt paving developments
    March 13, 2012
    US and European asphalt paving needs are different, but some firms are bridging that gap, reports Mike Woof. With a clear differentiation between the US and European asphalt paving markets, manufacturers from the latter are now developing machines aimed at the former. The US and European markets for paving machines have developed along very different lines. North American pavers are designed for high throughputs and high paving rates, having been designed to meet a need to build roads over long distances wi
    Read More
  • Volvo CE’s wheeled loader factory upgrade
    January 24, 2023
    Volvo CE is upgrading its wheeled loader factory.
    Read More
  • Volvo CE’s Carl Slotte explains the division’s current line-up
    October 11, 2017
    Next year Volvo CE will be testing electric, hybrid and autonomous vehicles in a quarry. Carl Slotte, head of sales for EMEA, says no company by itself will win market share. David Arminas reports from Germany The driver of the charter bus stood outside the hotel in Trier, Germany, and waved at a passing local city bus. “I know the driver,” he told one of the assembled journalists waiting for the group’s ride to the nearby Volvo CE plant. “He is retired but they brought him back because young people th
    Read More
  • In control - with machine control technology
    June 21, 2016
    Advances with machine control technologies are providing major benefits right across the construction sector - Mike Woof writes With the massive bauma 2016 exhibition now having run its course, the construction sector look set to benefit from a range of new machine control technologies. These systems are being offered across a range of different segments in the equipment sector. Bulldozing was one of the first portions of the earthmoving segment to benefit from machine control systems, but a vast array o
    Read More

Highlighted Content