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Home > Affordable Housing, Analysis and Commentary, Business, disaster, Modular and PreFab Housing Industry, News, research, Trends > Introducing Hyundai Engineering Projects, Donates Disaster-Resistant Modular Homes

Introducing Hyundai Engineering Projects, Donates Disaster-Resistant Modular Homes

December 26th, 2018

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In the United States, Hyundai is best known for their cars and other vehicles.  That’s still a big part of the South Korean firm’s business, but they have a diversified presence in several industries, with “engineering” and industrialization in construction as common elements.

 

Hyundai Engineering said Wednesday that they’ve donated 5 prefabricated homes that are earth quake and disaster resistant.

Since 2015, the firm has reportedly given away 21 prefab/modular homes in remote areas in Gangneung Province, North Chungcheong Province and South Jeolla Provinces in South Korea. There aren’t a lot of details at this time, but the video posted reflects their global reach.

Domestic American factory-builders, take note. One of larger projects in this video is here in the United States.  The Korean Herald says what industry builders already know, “Modular homes refer to prefab buildings for residential purposes. Such buildings involve a construction method in which sections of a house are manufactured away from a construction site, then delivered to the site and installed there.”

Each of the donated modular homes has a bedroom, a living room, and a restroom, as well as a storage detached from the residential area, according to the Hyundai.

An entirely different type of housing project in Tamil on the Indian subcontinent is shown in the photo below.

 

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Several off-shore producers of industrialized housing have tested or are exploring the U.S. housing market.  Chinese firms are often mentioned, but Europeans, Japanese, and others are in the hunt too.

It should be noted that when Hyundai’s cars hit the U.S. shores, they rapidly achieved significant numbers. They think big.

 

 

In 2017, AutoNews said that “Hyundai’s U.S. sales…685,555 vehicles in 2017. Kia’s U.S. sales fell 9 percent to 589,668 vehicles.”  However you slice it, that’s many times the size of the entire HUD Code manufactured home market, which is currently larger than the modular single family home market.

 

Figure1MobileManufacturedHomeSalesSHipmentsVsExistingingNewHouseSalesManufacturedHousingiinudstryDataMHProNews

Daily Business News on MHProNews will continue to monitor developments by offshore companies that have eyes on the U.S. prefab housing market.  “We Provide, You Decide.” © ## (News , analysis, and commentary.)

 

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SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

 

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