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Hyundai Doosan Infracore stops using ‘Doosan’ brand name

Hyundai Doosan Infracore (HDI) disclosed the new brand name, “Develon,” Wednesday, as it decided not to use the Doosan designation any longer for its construction equipment business.

The decision was made one and a half years after HDI became a subsidiary of HD Hyundai, although the construction equipment manufacturer had planned to launch a new brand since it joined the shipbuilding group in August 2021.

Develon is a portmanteau of “develop” and “onwards,” according to HDI.

HDI said the new brand name reflects its aim to move onward to the future through innovation and a willingness to pursue relentless change through innovative products and solutions.

“The three construction equipment businesses have already solidified their statuses as some of the key business pillars of HD Hyundai and have built an unwavering foundation for achieving performance targets and creating synergistic effects amid a rapidly changing global economic environment,” HDI CEO Cho Young-cheul said.

“Develon will lead the future market of electrification and automation to spur growth and become a brand with more confidence among our customers.”

HDI plans to detail the brand story and its vision by releasing a video titled “New Brand Showcase” via YouTube in late February. It will also unveil the equipment labeled with the new brand name at CONEXPO-CON/AGG 2023 in Las Vegas in March.
Source: The Korea Times

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