Seoul — Hyundai Motor plans to increase its global production capacity by 1.27 million vehicles and introduce more than 100 new and updated models by 2030 as it seeks to strengthen its position in an increasingly competitive global auto market.
CEO Jose Munoz outlined the strategy Wednesday during Hyundai Motor’s CEO Investor Day in Seoul, where the South Korean automaker detailed plans to expand its lineup and manufacturing footprint while facing growing competition, particularly from Chinese automakers.
Hyundai plans to introduce more than 100 new or updated vehicles through 2030, including facelifts, partial redesigns and new variants. The lineup will include 18 entirely new models, according to Yonhap News Agency.
The company plans to launch the Genesis GV80 hybrid in South Korea and the United States later this year, followed by an extended-range electric vehicle in the first half of 2027. New versions of the Tucson SUV and its hybrid variants are also scheduled for the second half of this year.
Hyundai currently has global production capacity of about 5 million vehicles. By 2030, it plans to add 500,000 units of capacity in North America, 320,000 in India, 200,000 in South Korea and 250,000 through completely knocked-down production operations.
The automaker maintained its target of selling 5.55 million vehicles globally by 2030, with electrified vehicles accounting for 60 percent of total sales.
Hyundai also raised its 2030 operating margin target to more than 9 percent from its previous projection of 8 percent to 9 percent. It maintained its 2026 operating margin guidance of 6.3 percent to 7.3 percent despite pressures from U.S. tariffs, geopolitical tensions in the Middle East and increased competition from Chinese rivals.
Munoz identified hybrid vehicles as “the biggest opportunity” in the U.S. market. Hyundai aims to reduce raw material costs for hybrids by 20 percent by 2030.
In North America, the company plans to launch 10 new hybrid electric vehicle models by 2030, beginning with the GV80 hybrid, and increase hybrids to 50 percent of its regional sales. (Source: IANS)
