Get ready to see a lot more Hyundai vehicles on the road. The South Korean auto giant just revealed its most ambitious growth plan ever, packed with advanced new EVs and hybrids across nearly all segments. Hyundai is also launching its first midsize pickup and an extended-range vehicle (EREV) that promises to deliver over 600 miles (960 km) of range.
During its first CEO Investor Day held outside of Korea, Hyundai unveiled “its most ambitious growth strategy” in company history.
Hyundai is promising to lead the industry’s shift to electrification with a slate of new vehicles set to launch across nearly every powertrain and segment imaginable.
“In an industry facing unprecedented transformation, Hyundai is uniquely positioned to win,” José Muñoz, President and CEO of Hyundai Motor Company, said during the event held in New York on Thursday. Hyundai isn’t simply adapting, “We’re leading it,” Muñoz told attendees.
Hyundai plans to sell 5.55 million vehicles globally by 2030, including 3.3 million “electrified” vehicles, or about 60% of total sales.
With 18 new hybrids, including the first under its luxury Genesis brand, Hyundai expects “significant growth” in North America, Europe, and Korea.
Hyundai said the new vehicles, including EVs and hybrids, will be custom-tailored for buyers in its biggest markets.
In North America, Hyundai will launch its first midsize pickup by the end of the decade. Hyundai offers the Santa Cruz, which launched in 2021, but the company promises the new model is aimed at “the heart of the US market.”
Those in Europe will see the IONIQ 3, a smaller and more affordable little sibling to the IONIQ 5. It will feature a next-gen infotainment system, Hyundai said, specifically designed for drivers in Europe.
Hyundai announced plans to introduce its first extended range electric vehicle (EREV). Set to arrive in 2027, Hyundai said the new EREV will deliver an “EV-like driving experience with more than 600 miles (960 km) of range” that will use an added gas-powered engine to extend range.
Unlike traditional EREVs, however, Hyundai will use in-house batteries, which it promises will deliver “full EV power performance with less than half the battery capacity.”
In China, Hyundai will take on BYD and other automakers, leading the shift to EVs, with its new Elexio electric SUV. The Elexio SUV is Hyundai’s first locally produced electric vehicle using tech and software from Chinese leaders.
We will also see seven new high-performance “N” models added to the lineup by 2030. Hyundai aims to sell 100,000 N-branded vehicles by the end of the decade. The new IONIQ 6 N “will introduce a new paradigm for high-performance EVs,” the company said, with advanced new features and tech.
The luxury Genesis brand is celebrating its 10th anniversary with big growth plans over the next few years, including new EREVs, hybrids, and a flagship SUV.
The flagship Genesis electric SUV is expected to launch as the GV90, which we’ve seen out in public testing with ultra-luxury features, including coach doors.
Hyundai announced plans to ramp up production at its Metaplant America (HMGMA) EV plant in Georgia. With a new $2.7 billion investment, the company is creating 3,000 more jobs in Georgia. By 2028, Hyundai plans to build 500,000 hybrid and EV models at the facility annually.
By 2030, Hyundai expects over 80% of vehicles sold in the US will be made domestically. Its supply chain sourcing in the US will also increase from 60% to 80%.
Globally, Hyundai plans to add 1.2 million units to its production capacity by the end of the decade, including in the US, South Korea, and India.
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Peter Johnson is covering the auto industry’s step-by-step transformation to electric vehicles. He is an experienced investor, financial writer, and EV enthusiast. His enthusiasm for electric vehicles, primarily Tesla, is a significant reason he pursued a career in investments. If he isn’t telling you about his latest 10K findings, you can find him enjoying the outdoors or exercising

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