1 week ago
Hyundai Motor Plans Global Expansion and 100 New Models
Hyundai Motor wants to make many more cars by 2030.
It plans to increase production by 1.27 million vehicles.
The company also plans to introduce more than 100 new or updated models.
Eighteen of those models will be completely new.
Hyundai expects to sell 5.55 million vehicles worldwide in 2030.
It wants electric, hybrid and other electrified vehicles to make up 60 percent of those sales.
In North America, Hyundai plans to introduce 10 new hybrid models.
The company says hybrids are a major opportunity in the United States.
It is making these plans while facing competition from Chinese automakers, tariffs and geopolitical tensions.
Hyundai Motor plans to add 1.27 million vehicles to its global production capacity by 2030.
The automaker will launch more than 100 new or updated models, including 18 all-new vehicles.
Hyundai is targeting global sales of 5.55 million vehicles and a 60 percent electrified-vehicle share by 2030.
The company raised its 2030 operating-margin target to above 9 percent while maintaining its 2026 guidance.
Hyundai plans 10 new hybrid models in North America by 2030 and aims for hybrids to reach half of regional sales.
- Who
- Hyundai Motor, led at the event by CEO Jose Munoz.
- What
- The company announced plans to expand production capacity by 1.27 million vehicles and launch more than 100 new or updated models by 2030.
- Where
- The plans were presented at Hyundai Motor's CEO Investor Day in Seoul and cover operations in North America, India, South Korea and other global markets.
- When
- The targets are for 2030; the Genesis GV80 hybrid is planned for later this year, and an extended-range electric vehicle is planned for the first half of 2027.
- Why
- Hyundai aims to strengthen its global competitiveness and support higher sales amid intensifying competition, especially from Chinese rivals.
Key facts
- Production increase
- 1.27 million additional vehicles by 2030
- Current production
- About 5 million vehicles
- 2030 sales target
- 5.55 million vehicles globally
- Electrified-vehicle target
- 60 percent of global sales by 2030
- 2030 operating-margin target
- Above 9 percent
- North American hybrid plan
- 10 new hybrid models and hybrids at 50 percent of regional sales by 2030
- Planned production additions
- 500,000 units in North America, 320,000 in India, 200,000 in South Korea and 250,000 through completely knocked-down production
Sources
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