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However, because of the North Korean Invasion of 1950, Chang Ju-Yung was unable to achieve this and abandoned his building tasks. He relocated along with his brother to Busan, but proceeded to accomplish whatever work he might get from Korean Ministry of transport as well as the UN forces. This resulted in the creation of the Hyundai engine Company in 1967.
The business launched its first vehicle in 1968, the Cortina, that was stated in cooperation aided by the Ford engine business. In no time, the business discovered there is huge potential into the automotive industry and wished to develop its own vehicle. Therefore, Chan Ju-Yung hired George Turnbull (previous director of Austin Morris).
George, in answer producing top-notch high quality vehicles, hired five various other top Brit automobile designers and in 1975 produced Hyundai’s 2nd vehicle and Southern Korean’s first mass-produced car, the Hyundai Pony (picture preceding) with a powertrain given by Mitsubishi and styling carried out by Giorgio Giugiaro of ItalDesign. This marked the start of a brand new and successful company, not only in South Korea but also worldwide.
Following the Hyundai Pony made its debut in 1975, the company straight away started mass-production a year later on. In 1977, the organization started exporting its automobiles to Ecuador and after that with other Benelux nations. The 80s proved to be a really successful duration for business and within a couple of years, Hyundai started exporting the Pony to Canada.
Numerous attempts had been produced by the business to export towards the United States. However, because the Pony neglected to meet up with the emission standards, exports to the United States had been placed on hold. No matter, sales for the Pony greatly exceeded objectives plus in 1985 it became the top-selling car regarding the Canadian market. Not to mention, just ten years following its introduction, the one-millionth Hyundai was made.
In 1986, Hyundai revealed one of the greatest vehicles of them all, the Excel. It was a redesigned type of the Pony together with reasonable C02 emissions. Therefore, Hyundai started initially to sell vehicles in america. The Excel became an immediate success and sold over 100, 000 units in seven months and was also nominated as “Best Product #10” by Fortune Magazine mainly because the vehicle was incredibly budget-friendly.