HD HYUNDAI INFRACORE TARGETS MEA WITH ITS NEW BRAND DEVELON

HD Hyundai Infracore is targeting the Middle Eastern and African market in full swing with its new brand DEVELON which will hopefully replace the Chinese market that is still going through a stagnant phase.

HD Hyundai Infracore gained a revenue of $330 million last year in the MEA region which is a sharp increase of 116% compared to $150 million in 2020. The number of machines sold has also exceeded 2,400 units, marking a 60% increase to that of 2020 mainly due to the company’s focus on securing large-scale customers with new advanced technology-equipped machine releases and customized services.

The company has also recently established a new African office in Accra, Ghana to expand its network and secure more customers in Western and Central Africa where the market is growing.

As a result, HD Hyundai Infracore has signed supply contracts for a total of twenty-nine machines in the Republic of Angola which include twenty excavators and nine wheel loaders. This is the largest contract for the company since starting business in Angola and takes up around 8% of the country’s total market when considering its average market volume is around 370 units per year. The machines will be supplied to one of the largest construction companies in Angola and used when building hydroelectric power dams.

With the launch of its new brand DEVELON, HD Hyundai Infracore also hosted its ‘2023 MEA Dealer Conference’ in Cairo, Egypt to discuss sales strategies. The dealer conference is the first regional meeting since launching DEVELON, where over ninety key stakeholders including HD Hyundai Infracore President Seung-hyun Oh and twenty-six MEA dealers attended.