Hyundai's 'Hyundai Way' Strategy for Future Growth and Innovation
Key Ideas
  • Hyundai aims for 5.55 million global sales by 2030, with 2 million EVs annually and plans for EREV models with a 900 km range, expanding its lineup to 21 EV models.
  • The company will introduce an advanced hybrid system and expand its HEV offerings, including hybrid models under the Genesis luxury brand.
  • Hyundai is dedicated to enhancing battery technology, developing affordable NCM batteries, and strengthening safety technology, positioning for energy leadership during the transition period.
  • The company is focused on advancing hydrogen technology capabilities across the value chain, aiming for top-tier leadership in this area.
At the 2024 CEO Investor Day, Hyundai Motor Company unveiled its 'Hyundai Way' strategy, targeting substantial growth and innovation in the coming years. By 2030, Hyundai plans to achieve 5.55 million global sales, with a significant focus on electric vehicles (EVs). The company aims to sell 2 million EVs annually and introduce new Extended-Range Electric Vehicle (EREV) models in North America and China, boasting an impressive range of over 900 km on a single charge. Hyundai's vision includes offering a comprehensive lineup of 21 EV models by 2030, catering to various segments from affordable to luxury and high-performance vehicles. Additionally, Hyundai plans to enhance its hybrid offerings by introducing a next-generation hybrid system and expanding its Hybrid Electric Vehicle (HEV) range to 14 models. The Genesis luxury brand will also feature hybrid models in its lineup. Hyundai's commitment extends to advancing battery technology, where it plans to internalize battery production, develop cost-effective Nickel-Cobalt-Manganese (NCM) batteries, and bolster safety technology. Moreover, Hyundai aims to establish itself as a leader in energy solutions during the transition period by strengthening its hydrogen technology capabilities across the entire value chain. The company's strategic approach reflects a positive sentiment towards embracing innovation, sustainability, and market expansion in the automotive sector.
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