Hyundai and Cummins joint ventures

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. This factory will provide HHI with a steady supply of high quality engi
November 27, 2012 Read time: 2 mins

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 236 Hyundai 196 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.
Engines, Components & Tyres

For more information on companies in this article

Related Content

  • Doosan Bobcat has opened its new factory in India
    September 11, 2019
    Doosan Bobcat has opened its first manufacturing facility in India. The factory is located in Tamil Nadu state, on the outskirts of Chennai. Representing an investment of US$26 million, the 10.5ha site has an annual production capacity of 8000 units. It is an integrated facility with fabrication, warehouse, assembly and paint shop all under one roof and will initially be manufacturing Bobcat backhoe loaders completely designed and developed by the Engineering team based in Chennai. This is a new addition t
    Read More
  • Asphalt plant producers see major worldwide successes
    November 21, 2014
    Asphalt plant manufacturers report major supply deals for highway and construction projects - Pat Smith writes International asphalt plant manufacturers have been reporting major successes with their products, which are now working on highway and airport projects worldwide.
    Read More
  • Fuel cell vehicle market will accelerate from 2015
    May 1, 2012
    While the market for fuel cell vehicles (FCVs) has been slower to develop than many anticipated a few years ago, major automakers including Toyota, Daimler, GM, Honda, and Hyundai have all publicly stated that fuel cells are a critical piece of a complete clean vehicle portfolio.
    Read More
  • Doubling sales of construction machines
    March 16, 2012
    LiuGong Construction Machinery says doubling its North American-based equipment sales in 2011, compared to the previous 12 months, reinforces the company's goal of being among the world’s top ten equipment manufacturers by 2015.
    Read More

Highlighted Content