Hyundai Motor Co. said Wednesday it plans to expand its overall production capacity by 1.27 million units by 2030 while rolling out more than 100 new and updated models to strengthen its presence in the global market.
Hyundai Motor CEO Jose Munoz outlined the plans at its CEO Investor Day event in Seoul as it seeks to bolster its competitiveness amid intensifying competition, particularly from Chinese rivals.
The South Korean automaker said it plans to introduce scores of brand-new or updated models within the decade, including facelifts, partial redesigns and other variants, with 18 all-new models included in the lineup.
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 (EREV) in the first half of 2027.
The Tucson SUV, one of Hyundai Motor's bestselling models, and its hybrid variants are also scheduled for launch in the second half of this year.
To support its expanded lineup and sales targets, Hyundai Motor plans to significantly increase its global production capacity by 2030, up from about 5 million vehicles at present.
The goal includes 500,000 units in North America, 320,000 in India, 200,000 in South Korea and 250,000 through completely knocked-down (CKD) production.
The company maintained its previously announced sales targets, including global sales of 5.55 million vehicles by 2030 and raising the share of electrified vehicles to 60 percent of total global sales by the same year.
Hyundai Motor also raised its 2030 operating margin target to above 9 percent from the previously projected range of 8-9 percent.
It maintained its 2026 margin guidance at 6.3-7.3 percent despite a challenging business environment marked by U.S. tariffs, geopolitical tensions in the Middle East and intensifying competition with Chinese rivals.
Munoz identified hybrids as "the biggest opportunity" in the U.S. market, as the company aims to cut raw material costs for hybrid vehicles by 20 percent by 2030.
In North America, Hyundai Motor plans to launch 10 new hybrid electric vehicle (HEV) models by 2030, led by the GV80 hybrid, and raise hybrids to 50 percent of its sales in the region.
Starting in the first half of next year, the company will also introduce the Santa Fe extended-range electric vehicle (EREV) in the U.S. market.
In Europe, Hyundai Motor aims to increase annual EV sales to 420,000 units by 2030, nearly four times the 116,000 units sold in the region last year. The Ioniq 3, an EV designed specifically for the European market, is set to launch next month.
In India, Hyundai Motor plans to increase SUVs to 80 percent of its total sales by 2030, supported by new models tailored to local demand.
In China, the automaker aims to increase sales, including exports from China, to 500,000 vehicles by 2030 by pursuing a localized product strategy and technology partnerships with local companies.
Following the Ioniq V unveiled in the first half of this year, Hyundai plans to launch two new models next year: a compact electric SUV and a compact model available in both EV and EREV variants.
In autonomous driving and future mobility, Hyundai Motor said it will strengthen collaboration with global partners to accelerate the development of software-defined vehicles (SDVs) and autonomous driving technologies.
The automaker plans to begin supplying Ioniq 5-based robotaxis manufactured at Hyundai Motor Group Metaplant America (HMGMA) in Georgia to self-driving technology firm Waymo in the fourth quarter of this year.
The company also aims to introduce Level 2+ autonomous driving technology in its first mass-produced SDVs in 2028 through a strategic partnership with U.S. AI chip giant Nvidia.
Hyundai Motor also plans to deploy Boston Dynamics' Atlas humanoid robots at HMGMA beginning in 2028 as part of efforts to commercialize physical artificial intelligence (AI) technologies and expand the use of robotics in manufacturing.
Last month, Hyundai Motor Group said it will acquire SoftBank's remaining 9.65 percent stake in Boston Dynamics after the Japanese investment company exercised a put option under an existing agreement, a move that would make the Atlas humanoid robot maker a wholly owned subsidiary and bolster the group's push into robotics and physical AI.
Asked about a potential initial public offering (IPO) or spin-off of Boston Dynamics, company officials said various options remain under consideration, but no decision has been made.
In 2029, when the volume of autonomous driving data is expected to increase sharply, the company plans to begin operating an AI data center in the Saemangeum reclaimed area on South Korea's southwestern coast. The 100-megawatt facility is expected to accommodate more than 50,000 graphics processing units (GPUs).
In a regulatory filing, Hyundai Motor said that it plans to buy back 789.1 billion won (US$569.8 million) worth of its own shares as part of efforts to enhance shareholder value.
Shares of Hyundai Motor fell 3.09 percent to 408,000 won, underperforming the KOSPI's 0.97 percent gain.
