The world's third-largest automaker is Hyundai Motor Group.

Although Hyundai is currently the world's third-largest automaker, it was once criticized in America for its low-quality and inexpensive cars. However, this perception has changed.

The three auto brands owned by the automaker, namely Hyundai, Kia, and Genesis, are gaining ground on established competitors and accumulating numerous industry accolades.

According to William Barnett, a professor at the Stanford Graduate School of Business, people would be surprised to see the current Hyundai if they recall the first Hyundai model that entered the American car market many years ago.

Although Tesla still leads the electric vehicle industry, Hyundai Motor Group is the second-best-selling EV manufacturer in the U.S.

"Sam Abuelsamid, principal research analyst at Guidehouse Insights, praised Hyundai's efforts on the electrification front, stating, "They've put out some fantastic products.""

The company's success in both sales and reputation can be attributed to its relentless pursuit of product quality, recruitment of top talent from esteemed automotive brands, and transformation into an industry leader in innovation.

The company has constructed a new design and "innovation" center in Singapore, where it is testing new manufacturing methods, investing in robotics, autonomous driving, and electric vertical takeoff and landing aircraft.

"Jose Munoz, the global president and chief operating officer at Hyundai, stated that he believes Hyundai Motor Group is not a car company, but rather a technology company. He emphasized that their activities are almost science-fiction."

Despite facing numerous challenges, including a surge in thefts of Hyundai and Kia vehicles, a recall of over 3.3 million cars at risk of catching fire, and a push from the United Auto Workers union for better working conditions in its American factories, Hyundai continues to operate in the United States.

To learn more about how Hyundai became the third-largest global automaker, watch the video.