en.Wedoany.com Reported - HD Hyundai XiteSolution has completed the upgrade of its Ulsan industrial vehicle plant, increasing annual production capacity to 24,000 units and aiming to achieve 1.6 trillion won in industrial vehicle revenue by 2030.
The company stated that the completed Ulsan Campus Advancement Project has created an integrated production base for its industrial vehicles and heavy machinery components. The project, implemented since 2022, involved an investment of approximately 93 billion won in the existing industrial vehicle plant at the Ulsan campus. For logistics and cargo handling operators, industrial vehicles are closely tied to daily freight movement. While forklifts may not be as high-profile as ships, cranes, or heavy modules, they are critical equipment determining the continuous flow of goods within warehouses, yards, ports, and industrial sites.
The upgraded plant boosts annual industrial vehicle production capacity from 20,000 to 24,000 units, while expanding the production scale of components for industrial vehicles and construction equipment from 170,000 to 220,000 units. Automation upgrades aim to shorten product turnaround time. HD Hyundai XiteSolution said the plant has added automated conveyor lines, large tire assembly systems, and automated guided vehicles for frame supply, along with a material warehouse, performance testing facilities, and a dedicated shipping building.
The company expects these changes to reduce product turnaround time by 32%, equivalent to approximately nine days. Overall manufacturing productivity is also projected to increase by 20%. The significance of the plant upgrade extends beyond increasing output numbers; it concerns how quickly components arrive, pass through assembly, undergo testing, and are delivered to customers. In a market where equipment delays can hinder terminal operations, construction sites, and industrial cargo flow, a nine-day reduction holds practical implications for the supply chain.
HD Hyundai XiteSolution also plans to expand its electric forklift product lineup. After launching medium-sized electric forklifts (4 to 9 tons) in the second half of last year, the company said it will begin launching large electric forklifts (10 to 18 tons) starting in July. This move deepens the company's presence in the medium-to-large electric forklift segment, where operators face pressure to reduce emissions while handling heavier loads. By offering electric forklifts covering small, medium, and large categories, the company aims to cover a broader range of cargo handling applications, meeting customers' dual needs for standardized equipment fleets and stricter environmental requirements.
The completion ceremony was held on June 18 at the Ulsan campus, attended by approximately 90 officials, employees, and suppliers. Participants included HD Hyundai Group Vice Chairman Cho Young-cheul and HD Hyundai XiteSolution CEO Song Hee-joon. Song stated that the Ulsan Campus Advancement Project has elevated quality and production competitiveness to new heights. The company plans to leverage its electric forklift lineup and integrated production system to achieve 1.6 trillion won in industrial vehicle revenue by 2030.
HD Hyundai XiteSolution noted that global demand for eco-friendly equipment is growing. The expanded Ulsan production base provides the company with more capacity to meet this demand, particularly as cargo owners, terminal operators, and industrial users seek cleaner handling equipment. The new capacity also strengthens the company's role within HD Hyundai's broader machinery and equipment business. The Ulsan plant now combines industrial vehicle production with heavy machinery component manufacturing, creating a more unified manufacturing layout.
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