NEW DELHI: Hyundai Motor today announced making India and the US as regional headquarters, a move that would provide more functional autonomy for its business activities in these regions.
As part of the organisational changes, the company has also elevated Europe as regional headquarters as it plans to grant greater autonomy to each region in an effort to spur sustainable growth and enhance innovation, the South Korean company said in a statement.
The changes, which are in line with last October’s restructuring at Hyundai’s headquarters in Seoul, would be effective from July 2.
“The regional groups, in close collaboration with corporate headquarters, will play a hub role to lead continuous innovation within each market and advance Hyundai’s global business operations to the next level,” the company said.
Hyundai Motor India headquarters will support the company to further enhance operations in the market, under the leadership of executive vice president YK Koo, the current managing director of Hyundai Motor India, it added.
Similarly, Hyundai Motor North America headquarters will encompass Hyundai Motor Manufacturing Alabama, the company’s production hub for the Americas, and three sales units – Hyundai Motor America, Hyundai Motor Canada and Hyundai Motor Mexico.
Besides, Hyundai Motor Europe headquarters will expand Hyundai Motor Europe (HME)’s current role beyond sales operations, bringing under its wing Hyundai Motor Manufacturing Czech (HMMC) and Hyundai Assan Otomotiv Sanayi Ve Ticaret (HAOS: Turkey manufacturing joint venture).
Hyundai aims to complete global reorganisation by 2019.