The change takes place a year and a half since August 2021 when HDI became a subsidiary of HD Hyundai.
HDI says it will be changing the brand name on its construction equipment to Develon, confirming this as its new global brand identity from today 18th January 2023.
Develon is a combination of the words ‘develop’ and ‘onwards’. HDI says the new brand name conveys the direction of its move onwards to the future through innovation and its intention to relentlessly change the world with innovative products and solutions.
The company adds that it has planned the launch of the new brand since it became a subsidiary of HD Hyundai in August 2021. It says that it plans to take a leap forward to becoming a global top-tier player in the construction equipment industry with the launch of the new brand.
With the change of the brand name, the new Develon decal will be used on HDI’s construction equipment.
“Our three construction equipment businesses have already solidified their status as one of the key business pillars of HD Hyundai and have built an unwavering foundation for achieving performance targets and creating synergistic effects among them, amid the rapidly changing global economic environment,” said Cho Young-cheul, CEO of HDI. “Develon will lead the future market of electrification and automation to spur growth and continue to be a brand of choice for our customers.”
HDI says it plans to introduce a more detailed brand story and vision by releasing a ‘New Brand Showcase’ through social media by the end of February. It will unveil equipment with the new Develon brand name at CONEXPO-CON/AGG 2023.
A spokesperson for the company confirmed that the brand name change covers all Doosan construction and quarrying equipment including wheeled loaders, crawler excavators, wheeled excavators and articulated dump trucks.