Hyundai targets 5.55M total sales and 2M EV sales by 2030

Hyundai Motor 2024 CEO Investor Day

SEOUL — Hyundai Motor Company unveils its new mid-to-long-term strategy, the ‘Hyundai Way’ at its 2024 CEO Investor Day.

Hyundai will enhance its electric vehicle (EV) and hybrid competitiveness, advancing its battery and autonomous vehicle technologies.

“Under the Hyundai Way, we will respond to the market with agility. This will secure sustainable leadership in an uncertain market environment and strategically position the company to create a future centred on mobility and energy,” said Jaehoon Chang, president and CEO of Hyundai Motor Company.

“Hyundai will strengthen its position…by expanding beyond vehicle manufacturing to various forms of mobility. By enhancing the role of energy business operators and realizing a hydrogen society, we intend to transform into a company that can maintain global top-tier leadership in the era of energy transition,” Chang added.

The ‘Hyundai Way’ strategies include an expansion of the hybrid lineup from seven to 14 models, including Genesis, and introducing a new Extended Range Electric Vehicle (EREV) as a bridge to full electrification. The company aims to have a full EV lineup of 21 models by 2030 and is set to develop new, affordable NCM batteries and safety technologies.

Hyundai will further invest in autonomous vehicle technology, develop next-generation infotainment systems, and introduce the SDV Pace Car equipped with High-Performance Vehicle Computer (HPVC) architecture by 2026. It will also focus on expanding the HTWO fuel cell system lineup and launching a clean logistics business starting with HMGMA.

The company’s sales targets include reaching 5.55 million units by 2030 and achieving 2 million EV sales by the same year. It plans investments totalling KRW 120.5 trillion from 2024 to 2033, with KRW 54.5 trillion allocated for research and development, KRW 51.6 trillion for capital expenditures, and KRW 14.4 trillion for strategic investments.

Hyundai further aims for a consolidated operating profit margin of over 10 per cent by 2030. Additionally, the company is expanding its shareholder return policy, setting a minimum annual dividend of KRW 10,000 for 2024, and introducing a new total shareholder return (TSR) concept of over 35 per cent for the 2025 to 2027 period. The target annual average return on equity (ROE) is set at 11 to 12 per cent, with a quarterly dividend of KRW 2,500.

In 2024, Hyundai Motor secured its profitability and EV competitiveness in the market.