At present, Hyundai Heavy Industries is actively undertaking the development of the "21-ton cordless excavator." The project uses electricity to replace oil, reducing the cost of use up to 60%, and is expected to achieve "zero emissions."
As the only national-level project selected by the Korean Ministry of Knowledge Economy, the â€œ21-ton cordless excavatorâ€ project will receive huge amounts of money from the South Korean government by 2016. The new excavator will replace electricity with electricity, significantly reduce the dependence on energy and consumption, and reduce the use cost by 60%. More importantly, the project can reach the "zero emission" standard and achieve "energy saving and environmental protection" in the true sense.
According to industry insiders, the global electric excavator market will reach 13.5 billion U.S. dollars in 2020 and 30 billion U.S. dollars by 2024. Based on the advent of new products, Hyundai Heavy Industries is expected to achieve a market share of 20% by 2024 with an estimated sales of US$5.7 billion.
In addition, Hyundai Heavy Industries continues to develop cutting-edge technology and high-tech construction equipment, leading the world construction equipment market. In the second half of this year, it will launch the Hi-Mate service that uses mobile phones to confirm equipment failures or parts update time.
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