Seoul: Hyundai Motor Group announced its intention to expand its sport utility vehicle (SUV) and eco-friendly vehicle lineup in Brazil as part of efforts to solidify its footprint in the Latin American market. Executive Chair Euisun Chung recently visited Hyundai Motor Co.'s plant in Sao Paulo and the group's regional headquarters for Latin America during President Lee Jae Myung's state visit to Brazil, the group revealed through a press release.

According to Yonhap News Agency, Hyundai Motor currently produces approximately 200,000 vehicles annually in Brazil, including the HB20 subcompact and i20 hatchback models. The company is set to enhance its SUV offerings and introduce eco-friendly vehicles tailored to the local market. Moreover, Hyundai aims to invest in hydrogen infrastructure as a strategy for future growth.

Hyundai anticipates that SUVs will constitute 51.2 percent of Brazil's passenger vehicle market by 2030, an increase from 43 percent last year. To align with this projection, the company plans to manufacture a compact electric vehicle at its Brazil facility while also developing a flex-fuel vehicle (FFV) that can operate on gasoline, ethanol, or a blend of both fuels. With Brazil imposing a 35 percent tariff on imported eco-friendly vehicles, local production is a strategic move.

Additionally, Hyundai is exploring ventures in hydrogen production, mobility, and fuel cell systems. The South Korean conglomerate reported sales of 96,723 vehicles in Brazil during the first half of the year, marking a 12 percent rise from the previous year, driven by strong SUV demand.