The acquisition and official completion of the Doosan Infracore sale to Hyundai Heavy Industrial Holdings Co. (HHIH) happened in August 2021.
Doosan Infracore will become a subsidiary of the newly created Hyundai Genuine (HG) group alongside Hyundai Construction Equipment (HCE), as two independent construction equipment companies under HHIH. HG will act as the intermediary company of HHIH Group’s construction equipment businesses, leading both DI and HCE to maximize the company’s efforts and focus on the construction equipment industry. The two brands will combine as a global top player, much closer to achieving the goal of becoming a global top 5 player.
The plan is to manage overlapping investments and invest heavily in areas like future technologies and innovation. Doosan Infracore will work diligently to commercialize Concept-X and develop products such as electric excavators, battery packs, hybrid fuel cells and other next-generation products. By focusing on each company’s areas of strength, HG will be able to advance the development of these types of products to gain a competitive edge.
Independently, the two companies will grow together, complement each other, even compete in good faith in all areas, including technology, production, purchasing, sales, and quality. This will enable the business to expand and associate with other companies operated by the whole HHI group.
Published in the October 2021 Edition
