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Ulsan upgrade lifts industrial vehicle capacity
HD Hyundai XiteSolution has completed an upgrade of its Ulsan industrial vehicle plant, raising annual production capacity to 24,000 units as it targets KRW 1.6 trillion in industrial vehicle revenue by 2030.
The company said the completed Ulsan Campus Advancement Project gives it an integrated production base for industrial vehicles and heavy machinery components. The project has been under way since 2022 and involved an investment of about KRW 93 billion into the existing Ulsan Campus industrial vehicle plant.
For logistics and cargo handling operators, the move is worth watching because industrial vehicles sit close to the daily movement of freight. Forklifts are not headline assets like vessels, cranes or heavy lift modules, but they are often the machines that decide whether cargo keeps moving inside warehouses, yards, ports and industrial sites.
Automation targets shorter turnaround times
The upgraded plant increases annual industrial vehicle production capacity from 20,000 units to 24,000 units. Production scale for industrial vehicle and construction equipment parts rises from 170,000 units to 220,000 units.
HD Hyundai XiteSolution said the plant now includes automated conveyor lines, large tire assembly systems and automated guided vehicles for frame supply. It also added new material warehouses, performance testing facilities and dedicated shipping buildings.
The company expects the changes to reduce product turnaround times by 32 percent, equal to about nine days. It also expects overall manufacturing productivity to increase by 20 percent.
That is the practical point for the supply chain. A factory upgrade is not only about more units coming off the line. It is also about how quickly components arrive, move through assembly, get tested and reach customers. In a market where equipment delays can hold back terminal operations, construction sites and industrial cargo flows, a nine day reduction is not a small detail.
Electric forklift range moves into heavier classes
The company also plans to expand its electric forklift range. After launching 4 to 9 ton medium electric forklifts in the second half of last year, HD Hyundai XiteSolution said it will begin rolling out 10 to 18 ton large electric forklifts from July.
That move puts the company deeper into the medium and large electric forklift segment, where operators are under pressure to reduce emissions while still handling heavier cargo. For breakbulk and project cargo yards, the issue is familiar. Electric equipment is attractive on paper, but the real test is whether it can deliver enough power, uptime and reliability for demanding loads.
By offering electric forklifts across small, medium and large categories, the company is aiming to cover a broader range of cargo handling applications. This matters for customers that want to standardize equipment fleets while meeting stricter environmental requirements.
Leadership frames project as competitiveness move
The completion ceremony was held at the Ulsan Campus on June 18 and was attended by about 90 officials, employees and suppliers. Participants included Cho Young-cheul, Vice Chairman of HD Hyundai Group, and Song Hee-joon, CEO of HD Hyundai XiteSolution.
“With the Ulsan Campus Advancement Project, we have elevated our quality and production competitiveness to new heights,” Song said.
He added that the company plans to use its electric forklift lineup and integrated production system to reach KRW 1.6 trillion in industrial vehicle revenue by 2030.
Production base supports global market push
HD Hyundai XiteSolution said demand for eco friendly equipment is growing in global markets. The expanded Ulsan production base gives the company more room to respond to that demand, particularly as cargo owners, terminal operators and industrial users look at cleaner handling equipment.
The new capacity also strengthens the company’s role within HD Hyundai’s wider machinery and equipment business. The Ulsan site now combines industrial vehicle production with heavy machinery component manufacturing, creating a more unified manufacturing footprint.
For logistics professionals, the question is simple. Can larger electric forklifts move from a niche option to a regular tool in heavy cargo operations? HD Hyundai XiteSolution is betting that better production capacity, shorter turnaround times and a wider product range will help move that answer closer to yes.
Source: HD Hyundai
