In 1996, the company established a production plant in Chennai, India and founded Hyundai Motor India Limited in an effort to boost sales. Two years later, Hyundai established itself as a world-class brand by introducing incredibly reliable vehicles. In 1998, the company’s founder Chung Ju-Yung transferred leadership of Hyundai to his son, Chung Mong Koo, due to poor health.
In 2000, Hyundai made use of a solid marketing campaign which eliminated all worries regarding vehicle reliability. This marketing campaign granted a 10-year warranty to vehicles sold in the US. Since only a few companies could offer such a warranty, Hyundai soon earned a spot in the world’s top 10 car manufacturers.
By 2003, exports of vehicles exceeded 1 million vehicles and $10 billion. Additionally, numerous successful models, such as the Tuscani, Terracan, Lavita, Santa Fe, Sonata, and Elantra, were introduced. Two years later, Hyundai’s Click won the India’s Car of the Year award and in 2006, annual sales had exceeded KRW 1 trillion.
In 2013, Hyundai launched the all-new Genesis which ranked no.1 in Vehicle Satisfaction Awards in the US. Additionally, the company began production of ix35 (Tucson) which was the first mass-production fuel cell electric vehicle. In 2014, the company won the IF Design Award for its all-new Genesis vehicle and launched a new version of the Sonata at the Geneva International Motor Show.