HYUNDAI MOTOR REDEFINES ITS FUTURE WITH AN AMBITIOUS STRATEGY

Hyundai Motor unveils new strategy, reinforcing its position as automotive leader. At the 2024 CEO Investor Day, the company revealed its medium- and long-term objectives, focusing on electrification, autonomy and innovation. A massive investment of KRW 120.5 trillion is planned until 2033 to support its ambitions.

The automaker is counting on an expansion of its hybrid models, from 7 to 14, including its Genesis luxury division. The next-generation, more efficient TMED-II hybrid system will be introduced in 2025. Faced with declining demand for electric vehicles (EVs), Hyundai is working on an innovative Extended-Range Electric Vehicle (EREV). The vehicle, with a range of over 900 km, will be powered by an electric unit, while the internal combustion engine will only be used to recharge the battery. Hyundai Motor is targeting annual production of 5.55 million vehicles by 2030, including 2 million EVs, and intends to introduce 21 electric models by 2030.

At the same time, the company is focusing on improving batteries, integrating advanced technologies to enhance safety and reduce costs. Hyundai also aims to become a key player in hydrogen, with the extension of its HTWO portfolio (Hyundai’s division dedicated to fuel cell systems) to sectors such as shipping and aviation. With these initiatives, Hyundai aims to position itself as a market leader in an era marked by energy transition, while staying on course towards carbon neutrality by 2045.

PICTURE CREDIT : Hyundai