South Korean carmaker, Hyundai Motors, is making unbelievable strides in the development of engines, chassis designs, and alternative powertrains that are fuel-efficient and environmentally friendly.
This is due to the fact that it has invested more than $1.85 billion or 5.6 percent of its revenue in research and development just this year alone.
One well-known advancement can be seen in Hyundai's family of four-cylinder engines called the "World Engine." Jointly developed with DaimlerChrysler and Mitsubishi, it is now being used by Chrysler in its 2007 Dodge Caliber and Chrysler Sebring.
Hyundai has developed hydrogen fuel cell technology which is currently being tested in buses and cars. The automaker and the South Korean government are working together in this venture.Affiliate Hyundai Mobis has developed chassis modules which are being used in Chrysler's 2007 Jeep Wrangler.
Finally, another Hyundai affiliate, Hyundai Autonet, is developing auto electronics technology.
Our take? All this goes to show you that it is not just the American and Japanese carmakers that have their eyes on the future. Also, cooperation between the various car makers--no matter what country they call home--is leading to future developments that were not even imagined when General Motors was selling your dad his Oldsmobile.