Hyundai Shows Off New Strategies For The Coming Years

SAUDI ARABIA : Hyundai has revealed its plans and they are quite ambitious, especially for America and China. So much so that the brand even targets to sell as many as 2 million electric vehicles by the year 2030.

• Adding to that, Hyundai also intends to have a 30% increase in global sales
• Has EVs with a 900 km range in the pipeline 
• The brand intends to double its electric vehicle portfolio soon too

Hyundai's targets for the coming years

Hyundai Motor Group has prepared a clear development plan focused on change in the market, and mainly based on the electrification of their vehicles within the scope of the company’s ‘Hyundai Way’. Therefore, the organizational goal of DL is to attain a recommended level of 5 by the year 2030. 

This target indicates that it moves one and half a million automobiles per year, and this is nearly 30% up from 2023’s figures. Of those, the company wants to sell 2 million of those vehicles as fully electric, which also expresses Hyundai’s desire to act as one of the main movers in the EV market.

As part of this grand plan, new-gen extended-range electric vehicles (EREVs) have been planned for launch in the North American and Chinese markets. These progressive automobiles will have a range of over 900 on a single charge, a critical factor that a consumer of electric automobiles always looks out for, the range. Hyundai expects to have a bucket of 21 different EV models by 2030, which will include affordable models, sports utility vehicles, high-performance cars, and luxury cars.

How was 2024 for the brand?

Hyundai has done quite well in 2024, able to establish itself as a contender for the global EV market share while still enjoying higher profitability levels. These achievements were not left unnoticed and the three leading credit rating global agencies rated Hyundai an ‘A- grade’ which gives a good picture of its financial position as well as its market position. 

Hyundai recorded a good sales figure whereby its sales reached 4. According to the research, 21 million Ss vehicles were sold to the market in the world in 2023. Far-reaching, this success played the undue role of putting Hyundai Motor Group in the category of the three largest automakers across the globe making it a superpower in the global automotive industry.

Autonomous driving future

In addition to its electrification and sales targets, Hyundai is also making bold moves in the realm of autonomous driving and hydrogen energy. The company is fast-tracking its development of autonomous vehicles, with plans to establish a foundry business aimed at selling vehicles equipped with self-driving technology to autonomous software companies. 

As part of this effort, Hyundai is working on a platform capable of Level 4 or higher autonomous driving, representing vehicles that can handle most driving situations without human intervention.