Is Hyundai owned by Mercedes

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I was asking about the costs of a replacement key for a Hyundai and was given a very high price at a key cutting shop. They then told me that as Mercedes owns Hyundai, that would be why the cost was so high.


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It sounded like a joke to me, but I am checking it out.

Some older news reports linking Hyundai and Mercedes:

May 2008

Hyundai, now a world-class engine manufacturer, may lend engine technology to Mercedes-Benz for a future four-cylinder powerplant. (Automobile Magazine)

February 2009 Automobile Magazine:


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Hyundai: from borrowing engines from Mitsubishi to providing them for Mercedes-Benz
http://www.automobilemag.com/features/news/0805_hyundai_engines

Hyundai i40 Small SedanHyundai Worldwide Official Site:

This just mentions that Hyundai is the largest vehivle maker in South Korea and also owns Kia motors.
http://worldwide.hyundai.com/WW/Corporate/CorporateInformation/Affiliates/index.html

I did find some interesting information, and it seems I owned a Hyundai many years before I had even heard of them.

Hyundai Genesis
This is a Hyundai, not a Mercedes.

1967
Hyundai Motor Company was established in 1967, and its first model, the Cortina, was released in co-operation with Ford Motor Company in 1968.

1986
Launch of Grandeur, Hyundai’s large-sized luxury car, which according to many people, looked like a Mercedes (I had one and received those comments myself)

1998
In 1998 Hyundai acquired its main rival Kia Motors.

Full Hyundai history at:
http://worldwide.hyundai.com/WW/Corporate/CorporateInformation/History/index.html

Nothing on Mercedes owning Hyundai.

However, Mercedes-Benz is a division of the German car manufacturer Daimler AG, and between 2001 and 2004, Daimler, in its DaimlerChrysler name, owned 10.5% of Hyundai…

Maybe that is the link ?

 

I fancy this, as my next Hyundai:  https://www.hyundaiusa.com/azera/

Hyundai Azera


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