PTC's PLM suite of products to enable significant vehicle
development process improvements for global automotive OEM
Jan. 26, 2011 (Business Wire) -- 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.