Hyundai Motor Company Aims to Lead Future Mobility with a 120 Trillion Won Investment Over 10 Years

Hyundai Motor's Yangjae Headquarters. (Yonhap News)

Hyundai Motor Company has announced a massive investment and innovation strategy to secure global leadership in the future mobility market.

Hyundai plans to invest KRW 120.5 trillion by 2033 to strengthen its competitiveness in various future vehicle sectors, including electric vehicles (EVs), autonomous vehicles, and hydrogen mobility.

At the '2024 CEO Investor Day' held in Yeouido, Seoul, Hyundai unveiled its new mid- to long-term strategy called 'Hyundai Way.'

'Hyundai Way' focuses on three core strategies: ▲ 'Hyundai Dynamic Capability,' which responds swiftly to market changes, ▲ 'Mobility Game Changer' for expanding the mobility business, and ▲ 'Energy Mobilizer' to prepare for the transition to a hydrogen society.

Hyundai set a target to achieve global annual sales of 5.55 million units by 2030, with electric vehicles accounting for 2 million of those units.

In particular, the company plans to sell 690,000 EVs in North America and 467,000 EVs in the European market.

Hybrid models will also see significant expansion. The current seven models will increase to 14, with hybrid options added to all Genesis brand models.

Additionally, Hyundai aims to sell 1.33 million hybrid vehicles by 2028.

To accelerate electrification, Hyundai plans to introduce a new concept vehicle called the 'EREV (Extended Range Electrified Vehicle).'

This model combines the advantages of internal combustion engines and electric vehicles to provide long driving ranges and will be launched in 2027.

In the hydrogen mobility sector, Hyundai intends to strengthen its global leadership.

By developing hydrogen energy technology and expanding business capabilities, Hyundai aims to prepare for the transition to a future energy paradigm and build a hydrogen mobility ecosystem centered around HMGMA.

Hyundai also announced its financial goal to achieve an operating profit margin of over 10% by 2030 on a consolidated basis.

The company is committed to enhancing its competitiveness through research and development (R&D), facility investment, and strategic investments.

Jang Jae-hoon, President of Hyundai Motor Company, emphasized, "Hyundai aims to solidify its position as a game changer by expanding its mobility business beyond car manufacturing," and added, "We will maintain global leadership even during the energy transition by realizing a hydrogen society."