PTC’s PLM suite of products to enable significant vehicle development process improvements for global automotive OEM
NEEDHAM, Mass. — (BUSINESS WIRE) — January 26, 2011 — PTC® (NASDAQ: PMTC), The Product Development Company®, announced today that Hyundai Motor Company and Kia Motors Corporation, the fifth-largest and fastest-growing global automobile manufacturer by market share, has selected PTC as its strategic partner for its enterprise PLM initiative.
Following an extensive two-year benchmark testing and selection process, Hyundai Motor Company and Kia Motors Corporation selected PTC’s Windchill® as its enterprise PLM solution to consolidate multiple existing systems into a single platform for managing critical product data and related processes for vehicle development. Hyundai Motor Company and Kia Motors Corporation is adopting the Windchill PLM system in its core R&D groups and intends to extend use of the solution through its internal and external value chain.
Dr. H. S. Lee, Vice Chairman of HKMC’s R&D center, said, “In order to support our ambitious growth plans, we have prioritized the need for a faster and more efficient environment to facilitate global concurrent product development and support the rapidly changing requirements for our vehicle programs. Two years ago we began looking at all available PLM solutions to meet our requirements. We selected and procured with PTC because of Windchill’s impressive results in our comprehensive benchmarking process, PTC’s proven track record as an effective partner in powertrain development, and its growing strength in the automotive industry.”
The first phase of delivery, which has already begun, establishes a system of record for the complete vehicle -- the engineering Bill of Materials -- and for Change Management. Phase I also includes CATIA data management and a Digital Mock-Up (DMU) environment. The system gradually is expected to be expanded globally.
“PTC is proud to work with Hyundai Motor Company and Kia Motors Corporation, one of the largest, fastest-growing and most important brands in the global automotive industry,” said Jim Heppelmann, President and CEO of PTC. “As a global automotive OEM, Hyundai Motor Company and Kia Motors Corporation can now benefit from a single source for accessing data and managing processes across vehicle design programs in order to quickly respond to changes, to address the unique needs of global markets, and to ensure quality through production in many countries.”
Heppelmann added: “We are very excited that Hyundai Motor Company and Kia Motors Corporation has chosen us to help it move forward in what is a very dynamic and demanding industry. This selection clearly demonstrates PTC’s PLM momentum in the automotive sector.”
PTC solutions for automotive needs are designed to meet the product design and product life cycle management needs of both OEMs and suppliers in the automotive industry. PTC’s customers in the automotive industry utilizing PTC’s enterprise 3D design, product data management and/or collaboration solutions include eight of the Top 10 power train suppliers and three of the Top Five automotive OEMs.
About Hyundai Motor Company and Kia Motors Corporation
Hyundai Motor Company and Kia Motors Corporation is the world’s fifth-largest automaker and is made up of Hyundai Motor Co. and Kia Motors Corp.
About Hyundai Motor Company
Established in 1967, Hyundai Motor Co. has grown into the Hyundai Motor Group which has ranked as the world’s fifth-largest automaker since 2007 and includes more than two dozen auto-related subsidiaries and affiliates. Hyundai Motor Co., which has six manufacturing bases outside of South Korea, sold approximately 3.6 million vehicles globally in 2010. Hyundai vehicles are sold in 186 countries through some 5,300 dealerships and showrooms. Further information about Hyundai Motor Co. and its products is available at www.hyundai.com.
About Kia Motors Corporation
Kia Motors Corp. was founded in 1944 and is Korea’s oldest manufacturer of motor vehicles. As part of the Hyundai Motor Group, Kia aims to become one of the world’s premier automotive brands. More than 1.5 million vehicles a year are produced in 13 manufacturing and assembly operations in eight countries which are then sold and
serviced through a network of distributors and dealers covering 172 countries. Kia today has more than 42,000 employees worldwide and annual revenues of over US $14.6 billion
About PTC
PTC (Nasdaq: PMTC) provides discrete manufacturers with software and services to meet the globalization, time-to-market and operational efficiency objectives of product development. Using the company’s PLM and CAD solutions, organizations in the Industrial, High-Tech, Aerospace and Defense, Automotive, Retail & Consumer and Medical industries are able to support key business objectives and create innovative products that meet customer needs and comply with industry regulations. For more information on PTC, please visit http://www.ptc.com .
The announcement of any particular selection of PTC products or the planned utilization of services is not necessarily indicative of the timing of recognition of revenue therefrom or the level of revenue for any particular period.
PTC and its logo, The Product Development Company, Windchill and all PTC product names and logos are trademarks or registered trademarks of Parametric Technology Corporation and/or its subsidiaries in the United States and in other countries.
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