Hyundai Unveils 'Hyundai Way' Strategy for Automotive and Energy Innovation at CEO Investor Day
Key Ideas
- Hyundai Motor Company introduced the 'Hyundai Way' strategy at its CEO Investor Day, focusing on expanding its hybrid and EV lineups, addressing market challenges with EREVs, and advancing next-generation battery technology.
- The company plans to double its hybrid offerings, introduce the next-generation TMED-II hybrid system, and develop an Extended Range Electric Vehicle (EREV) to bridge the gap between traditional vehicles and full EVs.
- Hyundai aims to lead in next-generation battery technology with a focus on safety, autonomous driving, and Software-Defined Vehicles (SDVs), while also expanding its hydrogen energy initiatives under the HTWO brand.
- To support these initiatives, Hyundai announced a 10-year US$90bn investment plan, emphasizing research and development, capital expenditure, strategic acquisitions, and enhanced shareholder returns starting in 2024.
At its 2024 CEO Investor Day, Hyundai Motor Company presented its ambitious 'Hyundai Way' strategy, aimed at solidifying its position in the global automotive industry and driving innovation in both automotive and energy sectors. One of the key pillars of this strategy is the expansion of Hyundai's hybrid and electric vehicle (EV) lineups. Hyundai plans to double its hybrid offerings, introduce new models under its luxury Genesis brand, and enhance performance and fuel efficiency with the next-generation TMED-II hybrid system. To address market challenges and cater to customers transitioning to electric power, Hyundai is developing an Extended Range Electric Vehicle (EREV) with a driving range of over 900 km. Furthermore, Hyundai is committed to advancing its battery technology, particularly focusing on safety and real-time detection of battery abnormalities.
Hyundai's 'Hyundai Way' strategy also highlights its transition towards autonomous driving technologies and Software-Defined Vehicles (SDVs). The company is set to launch its first SDV Pace Car equipped with High-Performance Vehicle Computer (HPVC) architecture by 2026. In addition, Hyundai aims to supply autonomous vehicle platforms globally through its autonomous vehicle foundry business. Moreover, Hyundai is expanding its hydrogen energy initiatives under the HTWO brand, with plans to broaden hydrogen applications in various sectors.
To support these strategic initiatives, Hyundai announced a substantial 10-year investment plan amounting to US$90 billion. This financial commitment includes provisions for research and development, capital expenditure, and strategic acquisitions, underlining Hyundai's dedication to innovation. Additionally, Hyundai aims to enhance shareholder returns by guaranteeing a minimum annual dividend starting in 2024, showing a positive outlook towards future growth and sustainability.
Topics
Production
Innovation
Sustainability
Investment
Automotive Industry
Electric Vehicles
Battery Technology
Financial Strategy
Autonomous Driving
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