HD Hyundai XiteSolution wrapped up its Ulsan industrial vehicle plant advancement project and established a production system capable of turning out 24,000 industrial vehicles a year. Based on this, it set a goal of achieving 1.6 trillion won in industrial vehicle institutional sector sales by 2030.
HD Hyundai XiteSolution said on the 19th that it held a completion ceremony for its integrated industrial vehicle plant at the Ulsan Campus in Dong-gu, Ulsan, on the 18th.
The new production facility is the result of the "Ulsan Campus advancement project," which HD Hyundai XiteSolution has pursued since 2022 by investing about 93 billion won in the existing industrial vehicle plant at the Ulsan Campus. HD Hyundai XiteSolution reorganized its production facilities to build an integrated hub that produces both industrial vehicles and components, which are construction equipment parts.
As a result, annual industrial vehicle production capacity increased from 20,000 to 24,000 units. Production of industrial vehicles and construction equipment components also expanded from 170,000 to 220,000 units.
HD Hyundai XiteSolution introduced frame-supply automated guided vehicles (AGVs), large tire assembly equipment, and automatic conveyors for the assembly line at the plant. It also built new materials warehouses and performance/shipping buildings to raise the automation rate and improve logistics flow. The company expects the lead time to product completion to drop by nine days, or about 32%, compared with before, while productivity will improve by about 20%.
Song Hee-jun, CEO of HD Hyundai XiteSolution, said, "We have elevated quality and production competitiveness through the Ulsan Campus advancement project," adding, "Based on our full lineup of electric forklifts and an integrated production system, we will achieve 1.6 trillion won in industrial vehicle institutional sector sales by 2030."
Following the launch of 4–9-ton mid-size electric forklifts in the second half of last year, HD Hyundai XiteSolution plans to roll out its 10–18-ton large electric forklift lineup sequentially starting in July. With a product range spanning small to large electric forklifts, the company said it will accelerate its push into the global market as demand for eco-friendly equipment grows.