Hyundai Motor's spirit of innovation

During a Thursday visit to Hyundai Motor’s Ulsan plant, one notable vehicle stood in the showroom — the Sonata EV. While not widely known, Hyundai introduced the Sonata as a research electric vehicle in November 1991. With a modest range of just 70 kilometers per charge and a cramped interior due to its bulky battery setup, the Sonata EV might not have been cutting-edge by today’s standards. Yet, it was far from what skeptics derisively called a "cow riding car" 30 years ago.

At a time when the concept of electric vehicles (EVs) was virtually unheard of, the Sonata EV represented Hyundai’s early embrace of innovation. This pioneering spirit can be traced back to Hyundai Group's founder, Chung Ju-yung, whose famous phrase, “Hey, have you tried it?” became a guiding principle for the company. This mindset of relentless experimentation and problem-solving continues to shape the company’s culture today.

A more recent example of Hyundai’s "Have you tried it?" approach was its response to the global semiconductor shortage in 2021-2022, during the height of the COVID-19 pandemic. The scarcity of automotive semiconductors threatened to bring vehicle production to a standstill worldwide, but Hyundai’s purchasing team sprang into action. As international travel ground to a halt and airline flights became scarce, Hyundai employees still flew to Europe and the United States nearly every week. They even visited the homes of executives from European semiconductor companies, determined to meet in person despite widespread lockdowns.

“I remember sitting on an almost empty plane for a business trip, and my family was worried about me traveling during the pandemic,” one Hyundai executive recalled. “We did everything we could, even setting up a base camp in a hotel and inviting overseas semiconductor employees to explain the situation.”

While many of its competitors struggled to manage the crisis, Hyundai managed to secure enough automotive semiconductors to keep production running smoothly. Thanks to this aggressive supply chain management, Hyundai Motor Group became the world’s third-largest automaker in terms of production volume in 2022, a significant milestone for the company.

However, Hyundai’s path forward isn’t without challenges. One major hurdle is expanding its luxury brand, Genesis, in the European market. Genesis is prevalent primarily in Korea and North America but faces stiff competition in Europe, where luxury car brands with over a century of history dominate. Another challenge is advancing the hydrogen car ecosystem. Hyundai has taken a leading role in promoting hydrogen-powered vehicles, but skepticism within the industry remains high. Overcoming these doubts and building widespread acceptance of hydrogen technology will be key to Hyundai’s continued success in the green energy space.


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