Hyundai secures top 30 spot in 2024 Interbrand ranking, brand value hits $23 billion

ABU DHABI: Hyundai Motor Company has achieved a remarkable feat this year with a $23 billion brand valuation. In the Best Global Brands rankings, it has secured the 30th spot. Over five years, this represents a 63% boost in the value of the brand. This ascent of Hyundai for the second consecutive year in rankings showcases its standing as a dominant global player.

The growth in the brand value of Hyundai Motor stems from global initiatives that align with its "Progress for Humanity" vision. At the 2024 World Car Awards, the IONIQ 5 N bagged the World Performance Car award and in the J.D. Power U.S. APEAL Study, it received recognition highlighting the competitive spirit of Hyundai. 

With the Hyundai Motor Group Innovation Center Singapore (HMGICS), Hyundai is expanding its global influence. It also plans for new facilities, including a CKD factory in Saudi Arabia and an electric vehicle plant in Ulsan known as the Hyundai Motor Group Metaplant America (HMGMA).

Through various initiatives such as sports sponsorships, including FIFA and Archery, and partnerships with the Michelin-starred Chef and Whitney Museum of Art for its 'Na Oh' restaurant in Singapore, Hyundai Motor has enhanced engagement with customers. The company won many awards in the Red Dot Award: Brand & Communications Design 2024.

Hyundai also revealed ‘Hyundai Way,’ a unique strategy that focuses on market leadership and innovation in energy and mobility. By leveraging AI and software, Hyundai wants to bring a huge change in the mobility ecosystem. CEO and President Jaehoon Chang emphasized the commitment of the company to expanding into other future mobility solutions including advanced air mobility.

Interbrand annually evaluates main multinational companies and based on financial performance, competitive strength, and brand role ranks them. The rise of Hyundai Motor in the rankings reflects its strong performance and consistent growth. 

Jihun Moon, Interbrand Seoul’s CEO, said that the two-rank increase of the company showcases its achievements in branding and business. Ongoing efforts with the N and IONIQ models and new global sales records are making Hyundai grow leaps and bounds in the automotive sector. 

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