EVs help Hyundai to fifth on global list

The launch of dedicated EV brand Ioniq and investments in future mobility have helped Hyundai get into the top five automotive brands in Interbrand’s 2020 Global Brand Ranking.

Tesla is ranked just behind at sixth on the list.

Hyundai says its global brand value rose 1% year-on-year to US$14.3 billion, ranking fifth among global automotive brands and 36th overall.

That’s the first time since 2005 it’s got to fifth, being the only automotive brand on this year’s list with rising brand value amid recessionary market conditions caused by the COVID-19 pandemic.

Hyundai has listed within Interbrand’s top 40 global companies for six consecutive years. Since entering the ranks of the top 100 companies in terms of brand value in 2005, Hyundai has remained in the top 100 for 15 consecutive years.

“Hyundai Motor Company’s brand value rise can be attributed to its substantial expansion of future mobility business and continuous investments in its brand, such as the announcement of its dedicated electric vehicle brand Ioniq,” Interbrand brand valuation global director said Mike Rocha says.

“We have positively valued the company’s active and proactive approach to the market changes as a sustainable brand, encompassing its expansion of online sales channels, rapid response to social contribution activities and actual increase in sales of battery electric and fuel-cell electric vehicles.”

Under Ioniq, Hyundai will leverage its industry-leading manufacturing know-how in EVs to introduce three new dedicated models over the next four years with more innovative models to follow.

Hyundai’s investment in hydrogen fuel cell technology has also bolstered its position in the rapidly changing transportation sector.

The company recently delivered the first seven units of the world’s first mass-produced fuel cell electric (FCEV) heavy duty truck to customers in Switzerland, with 50 hitting the roads there this year.

Production capacity for FCEV trucks will reach 2000 units annually by 2021 to support its expansion into Europe, the US and China as demand for clean mobility grows.

The company is striving to solve urban traffic challenges and highlighting an innovative new mobility paradigm via its urban air mobility (UAM) business.

To strengthen its competitiveness in robotics, autonomous driving technologies and other future mobility business areas, and to establish itself as a pioneer of future mobility industry, it is signing research and development collaboration schemes with diverse open innovation labs around the world.

“We’ve adapted to rapidly evolving market conditions to become a leader in future mobility and we’ve also been agile in responding to unexpected factors, such as those caused by the pandemic,” Hyundai global chief marketing officer Wonhong Cho says.

Hyundai has carried out various social contribution activities for customers suffering from the aftermath of the pandemic around the world.

The company has provided vehicle support for hygiene products, transportation of patients and medical personnel, and various financial and service benefits for its customers.

The 2020 rankings put Toyoto in top spot, followed by Mercedes-Benz, BMW and Honda.

Tesla at sixth is ahead of Ford, Audi, Volkswagen, Porsche and Nissan.