Seoul: Hyundai Motor Co. announced a strategic plan to expand its global production capacity by 1.27 million units by the year 2030, while also aiming to introduce over 100 new and updated vehicle models during the same period. This initiative was unveiled by Hyundai Motor CEO Jose Munoz during the company's CEO Investor Day event held in Seoul, as part of efforts to enhance the company's competitive edge against increasing competition, particularly from Chinese automotive manufacturers.
According to Yonhap News Agency, Hyundai Motor is set to launch 18 all-new models within the decade, including facelifts, partial redesigns, and various other variants. The company has plans to introduce the Genesis GV80 hybrid in South Korea and the United States later this year, followed by an extended-range electric vehicle (EREV) in the first half of 2027. Additionally, the Tucson SUV and its hybrid variants are scheduled for release in the second half of this year.
To support its ambitious lineup expansion, Hyundai Motor aims to increase its global production from the current capacity of approximately 5 million vehicles. The target includes production increments of 500,000 units in North America, 320,000 units in India, 200,000 units in South Korea, and 250,000 units through completely knocked-down (CKD) production.
The company has reaffirmed its global sales target of 5.55 million vehicles by 2030 and plans to increase the share of electrified vehicles to 60 percent of total global sales. Hyundai Motor has also raised its 2030 operating margin target to over 9 percent, up from a previous range of 8-9 percent, while maintaining its 2026 margin guidance at 6.3-7.3 percent despite challenges such as U.S. tariffs and geopolitical tensions.
Identifying hybrids as a significant opportunity in the U.S. market, Hyundai Motor aims to reduce raw material costs for hybrid vehicles by 20 percent by 2030. In North America, the company plans to launch 10 new hybrid electric vehicle (HEV) models, led by the GV80 hybrid, and increase hybrids to comprise 50 percent of its sales in the region.
In Europe, Hyundai Motor is targeting annual EV sales of 420,000 units by 2030, nearly quadrupling sales from the previous year. The Ioniq 3, designed specifically for the European market, is set to launch next month. In India, the plan is to have SUVs make up 80 percent of sales by 2030, supported by models tailored to local preferences.
In China, Hyundai aims to increase sales to 500,000 vehicles by 2030 through localized product strategies and partnerships with local companies. The company plans to launch two new models next year following the release of the Ioniq V, including a compact electric SUV and a model available in both EV and EREV variants.
Hyundai Motor is also focusing on autonomous driving and future mobility by strengthening collaborations with global partners to advance software-defined vehicles (SDVs) and autonomous technologies. The company plans to begin supplying Ioniq 5-based robotaxis to Waymo later this year and aims to introduce Level 2+ autonomous driving technology by 2028 through a strategic partnership with Nvidia.
Furthering its commitment to robotics, Hyundai Motor plans to deploy Boston Dynamics' Atlas humanoid robots at its Metaplant America facility in 2028 as part of efforts to commercialize physical AI technologies. The company recently announced plans to acquire SoftBank's remaining stake in Boston Dynamics, potentially making it a wholly owned subsidiary.
In addition, Hyundai Motor is exploring options for an initial public offering (IPO) or spin-off of Boston Dynamics, though no decision has been made. The company also plans to operate an AI data center in South Korea's Saemangeum area by 2029, to manage the anticipated increase in autonomous driving data.
In a regulatory filing, Hyundai Motor announced a buyback of shares worth 789.1 billion won (US$569.8 million) to enhance shareholder value. Despite these announcements, shares of Hyundai Motor fell 3.09 percent to 408,000 won, underperforming the KOSPI's 0.97 percent gain.