HD Hyundai XiteSolution Completes Ulsan Campus Advancement Project… Annual Production of 24,000 Industrial Vehicles

▶ Through process automation and logistics optimization, the company is targeting KRW 1.6 trillion in revenue by 2030.
▶ The annual production capacity of construction equipment components has been increased to 220,000 units.
▶ The company plans to take the lead in the medium-to-large electric forklift market with the launch of its 10–18 ton large electric forklifts

HD Hyundai XiteSolution has successfully completed the advancement project of its Ulsan industrial vehicle plant, establishing a production base with an annual capacity of 24,000 industrial vehicles. In addition, the company has set a revenue target of KRW 1.6 trillion by 2030.

HD Hyundai XiteSolution announced on Friday, the 19th, that it held a completion ceremony for its integrated industrial vehicle plant at the Ulsan Campus in Dong-gu, Ulsan, on Thursday, the 18th. The event was attended by approximately 90 key officials, including HD Hyundai Group Vice Chairman Cho Young-cheul, HD Hyundai XiteSolution CEO Song Hee-joon, as well as employees and suppliers.

The newly completed production facility is a result of the "Ulsan Campus Advancement Project," which HD Hyundai XiteSolution has carried out since 2022, investing approximately KRW 93 billion into the existing Ulsan Campus industrial vehicle plant.

The company successfully reorganized its production facilities to create an integrated base for manufacturing industrial vehicles and heavy machinery components. As a result, its annual production capacity for industrial vehicles grew from 20,000 units to 24,000 units. Additionally, the production scale of parts for industrial vehicles and construction equipment increased from 170,000 to 220,000 units.

In addition, the company upgraded its industrial vehicle plant by integrating automated conveyor lines, large-tire assembly systems, and automated guided vehicles (AGVs) for frame supply. To further enhance automation and optimize logistics, it also constructed new material warehouses, performance testing facilities, and dedicated shipping buildings.
            
Driven by the facility upgrade, product turnaround times will drop by 32%, or about 9 days, while overall manufacturing productivity jumps by 20%.

Song Hee-joon, CEO of HD Hyundai XiteSolution, stated, "With the Ulsan Campus Advancement Project, we have elevated our quality and production competitiveness to new heights." He also mentioned, "Leveraging our comprehensive lineup of electric forklifts and our integrated production system, we aim to achieve KRW 1.6 trillion in revenue in the industrial vehicle sector by 2030."

Following the 4–9-ton medium electric forklifts launched in the second half of last year, HD Hyundai XiteSolution will sequentially launch a lineup of 10–18-ton large electric forklifts starting this July. The company plans to strengthen its market penetration in the global market, where demand for eco-friendly equipment is growing, by offering a full product lineup ranging from small to large models.

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■ Photo Caption: HD Hyundai XiteSolution CI