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

  • How to reduce environmental impact with Cummins Performance Series
    May 10, 2022
    There has been significant focus on alternative power solutions for off-road vehicles and equipment such as hybrid, full electric and hydrogen. Whilst these solutions will be suitable in the long term, it will take time for these technologies to be competitive and enable wider adopted in the construction industry.
    Read More
  • HCME's new parts depot
    April 11, 2012
    The new Hitachi Construction Machinery (Europe)/HCME European Parts Depot has been officially opened. At the Oosterhout facility, southern Netherlands, the guest of honour was Hitachi Construction Machinery president Michijiro Kikawa, who gave a speech to other guests at the ceremony, among them Mitsuhiro Tabei, president of HCME. He then presented representatives from the parts depot with a special Japanese maple tree, which was planted in front of the building. In his address, Mr Kikawa emphasised the imp
    Read More
  • HCME's new parts depot
    February 17, 2012
    The new Hitachi Construction Machinery (Europe)/HCME European Parts Depot has been officially opened. At the Oosterhout facility, southern Netherlands, the guest of honour was Hitachi Construction Machinery president Michijiro Kikawa, who gave a speech to other guests at the ceremony, among them Mitsuhiro Tabei, president of HCME. He then presented representatives from the parts depot with a special Japanese maple tree, which was planted in front of the building.
    Read More
  • HCME's new parts depot
    February 17, 2012
    The new Hitachi Construction Machinery (Europe)/HCME European Parts Depot has been officially opened. At the Oosterhout facility, southern Netherlands, the guest of honour was Hitachi Construction Machinery president Michijiro Kikawa, who gave a speech to other guests at the ceremony, among them Mitsuhiro Tabei, president of HCME. He then presented representatives from the parts depot with a special Japanese maple tree, which was planted in front of the building. In his address, Mr Kikawa emphasised the imp
    Read More

Highlighted Content