The Hyundai Motor Company was set up in 1967 as a subsidiary of the Hyundai Engineering & Construction Company. The company started off by assembling cars and trucks for the Ford Company in their car factory. In 1975 they produced their first car called the Hyundai Cortina which was produced in partnership with the Ford Motor Company. Within the next two years they had become the 13th largest automaker in the world with 2% share in the world retail market.
In 1975, the company decided to build its own car which it would sell under the brand name ‘Hyundai’. They hired five of the best car engineers from Britain who designed their first car, ‘Hyundai Pony’. The car soon became the number one selling car in South Korea because of its small size and economical pricing. Next the Hyundai Pony entered the Canadian market and within 9 months became the top-selling car there. By 1985, their production had exceeded more than 1 million cars.