KATHMANDU: Hyundai Motor Company has announced that its brand valuation has reached $23 billion, ranking 30th globally among Interbrand’s Best Global Brands in 2024.
This marks a significant 63 percent increase in brand value over five years, and a rise in rankings for the second consecutive year, a statement issued by the company said.
During this time, the brand moved up six spots from 36th to 30th and marked 14th consecutive year of increasing brand valuation.
Key factors that contributed to Hyundai Motor’s growth in brand value include various global initiatives that embody the company’s brand vision ‘Progress for Humanity’, according to the company.
Notably, IONIQ 5 N won the World Performance Car at the 2024 World Car Awards, and received accolades at the J.D. Power U.S. APEAL Study, reinforcing Hyundai Motor’s competitiveness as a global top automaker.
Hyundai Motor has also expanded its global brand influence through strategic initiatives.
Following the completion of the Hyundai Motor Group Innovation Center Singapore (HMGICS), the company continues to secure global influence in future mobility with plans for new facilities like the Hyundai Motor Group Metaplant America (HMGMA), a new electric vehicle (EV) plant in Ulsan, and a complete knock down (CKD) factory in Saudi Arabia.
Customer engagement has been strengthened through creative initiatives such as sports sponsorships including Archery and FIFA, sponsorship of the Whitney Museum of Art, and the premiere of its first short film ‘Night Fishing’.
Hyundai Motor also opened its first restaurant ‘Na Oh’ in Singapore in collaboration with a Michelin-starred chef.
It won numerous accolades in the Red Dot Award: Brand & Communications Design 2024 Awards.
According to the company, Hyundai Motor recently unveiled ‘Hyundai Way’, a mid- to long-term strategy for market leadership.
The company will continue to innovate to create a future centered on mobility and energy, while flexibly responding to the market.
By continuously enhancing its products and services based on software and AI, Hyundai Motor is poised to lead the transformation in the mobility ecosystem, strengthening its position as a mobility game changer.
“Hyundai Motor will strengthen its position as a game changer by expanding beyond vehicle manufacturing to AAM and other forms of future mobility,” said Jaehoon Chang, President and CEO of Hyundai Motor Company.
“Our technological advances will bring a richer and more sustainable future for humanity.”
Interbrand, a global brand consulting firm, annually evaluates major multinational companies.
The rankings are based on three factors: an analysis of financial performance, the role of the brand, and the competitive strength of the brand.
Hyundai Motor’s rise in this prestigious list is a testament to the company’s consistent growth and robust performance.
“Hyundai Motor’s two-rank increase in this year’s BGB is a testament to the company’s achievements across both the business and branding fronts,” said Jihun Moon, CEO of Interbrand Seoul. New global sales records, in tandem with continuous efforts to fortify the IONIQ and N, propel Hyundai Motors forward in the direction of genuine fandom creation.”
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