On June 18, HD Hyundai Site Solutions held a completion ceremony for the integrated industrial vehicle factory at its Ulsan campus, attended by over 90 key stakeholders, including Vice Chairman Cho Young-cheol and CEO Song Hee-jun.
Since 2022, the company has invested approximately 93 billion won in the modernization of the Ulsan factory. This initiative involved restructuring production facilities to establish an integrated production base for industrial vehicles and components.
As a result, the annual production capacity for industrial vehicles has increased from 20,000 to 24,000 units, while the production scale for industrial vehicle and construction equipment parts has expanded from 170,000 to 220,000 units.
Additionally, HD Hyundai Site Solutions has introduced automated guided vehicles (AGVs) for frame supply, large tire assembly equipment, and automated conveyor systems to enhance logistics optimization and increase automation rates.
The modernization project is expected to reduce the time required for product completion by approximately nine days (32%) and improve productivity by about 20%.
Through this enhancement of its production system, HD Hyundai Site Solutions aims to increase synergy between its industrial vehicle and construction equipment parts businesses and accelerate the transition to a profitability-focused business structure by expanding its range of electrified products.
CEO Song Hee-jun stated, "The Ulsan campus modernization project has elevated our quality and production competitiveness. Based on our full lineup of electric forklifts and integrated production system, we aim to achieve 1.6 trillion won in revenue in the industrial vehicle sector by 2030."
Meanwhile, following the launch of its medium electric forklifts with capacities of 4 to 9 tons in the second half of last year, HD Hyundai Site Solutions plans to sequentially release a lineup of large electric forklifts with capacities ranging from 10 to 18 tons starting in July. The company aims to establish a comprehensive product lineup from small to large models and strengthen its efforts to capture the growing global demand for eco-friendly equipment.
* This article has been translated by AI.
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