Doosan Infracore will become a subsidiary of the newly formed Hyundai Genuine Group. Together with Hyundai Construction Equipment, the two independent construction equipment companies will be part of Hyundai Heavy Industries Holdings Co. (HHIH).
In addition, Hyundai Genuine will act as an intermediary company for construction equipment business of HHIH Group. Thus, Doosan Infracore and Hyundai Construction Equipment will aim to maximize the company’s efforts and focus on the construction equipment industry.
Together, the two brands are influencing the sector worldwide. After all, in the hope of becoming a top five player in the construction equipment industry.
According to Doosan Infracore, the plan is to manage overlapping investments and invest heavily in areas such as future technology and innovation.
In addition, Doosan Infracore plans to focus on commercializing Concept-X and developing advanced products such as electric excavators, battery packs, hybrid fuel cells and other next-generation products.
For context, Concept-X is Doosan’s end-to-end management solution that can be used to explore the topography of a job site using 3D drone scanning, develop work plans based on topographic data and control construction equipment, such as excavators and wheel loaders, without human intervention.
Thus, by focusing on the strengths of each company, Hyundai Genuine believes itself capable of pushing forward the development of these types of products, hoping to gain a competitive edge in the global market.
Independently of each other, the two companies hope to grow, complement each other and even compete in good faith. Ultimately, we aim to push the boundaries of technology, production, procurement, sales and quality.