August 19 is the official close and completion date of the Doosan Infracore sale to Hyundai Heavy Industries Holdings.
Doosan Infracore will become a subsidiary of the newly created Hyundai Genuine group alongside Hyundai Construction Equipment as two independent construction equipment companies under Hyundai Heavy Industries Holdings. Hyundai Genuine will act as the intermediary company of Hyundai Heavy Industries Holdings Group’s construction equipment businesses and will be leading both Doosan Infracore and Hyundai Construction Equipment to maximize the company’s efforts and focus on the construction equipment industry.
The plan is to manage overlapping investments and invest heavily in areas like future technologies and innovation. Doosan Infracore will be working to commercialize Concept-X, an unmanned/automated solution that sends analyzed data to achieve accurate and fast work, and develop cutting-edge products such as electric excavators, battery packs, hybrid fuel cells, and other next-generation products. By focusing on each company’s areas of strength, Hyundai Genuine will be able to advance the development of these types of products.
