Hyundai buys Doosan, but will grow both equipment brands
By Jenny LescohierAugust 24, 2021
Doosan Infracore - maker of earthmoving equipment and attachments in North America - is now officially a subsidiary of the newly created Hyundai Genuine (HG) group, alongside Hyundai Construction Equipment (HCE).
The two entities will act as independent construction equipment companies under Hyundai Heavy Industries Holdings Co. (HHIH). HG will act as the intermediary company of HHIH Group’s construction equipment businesses and will be leading both Doosan Infracore and HCE to maximize the company’s efforts and focus on the construction equipment industry.
“Together the two brands will combine as a global top player, putting us much closer to achieving the goal of becoming a global top 5 player,” a statement from Doosan Infracore said.
“The plan is to manage overlapping investments and invest heavily in areas like future technologies and innovation,” the statement continued. “Doosan Infracore will be working diligently to commercialize Concept-X and develop cutting-edge 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 in the global market.”
Finally, Doosan Infracore reported the two companies will continue to compete in good faith in all areas, including technology, production, purchasing, sales and quality. “This will enable our business to expand and associate with other companies operated by the whole HHI group,” the company said.