by Hyundai’s Development Strategy Until 2030
Hyundai has introduced its new development strategy called “2030 Vision,” which includes the launch of a number of new models, including electric vehicles with extended range.
New Pickup for North America
By 2030, Hyundai plans to launch its first body-on-frame mid-size pickup in the North American market. This model will compete with vehicles such as the Chevrolet Colorado, GMC Canyon, Ford Ranger, Nissan Frontier, Toyota Tacoma, and Ram Dakota.
We have gained valuable experience and increased brand recognition since the launch of the compact Santa Cruz in 2021.
The company has high hopes for this model, as it targets one of the largest segments of the automotive industry. Furthermore, CEO Jose Munoz hinted that an SUV could appear on the same platform.
Expansion of the N and Hybrid Lineups
The lineup of high-performance N models will be expanded to over seven models by 2030, including the new Ioniq 6 N. Hyundai expects this to increase global sales of the N series to over 100,000 units per year.
The hybrid lineup will also be expanded to over 18 models by 2030. Additionally, the company plans to enter the commercial vehicle market in North America with a large electrified van, as well as the XCIENT fuel cell truck and Translead trailers.
New Electric Models
Hyundai is betting on electric cars, and their numbers will grow in the future. For Europe, the launch of the affordable Ioniq 3 model is planned, which was recently introduced as a concept. This model will be a mass-market car with a next-generation infotainment system.
For India, the first locally designed electric vehicle will be developed, and for China, a new C-segment sedan. The latter will be accompanied by the recently introduced Elexio SUV.
In 2027, the company plans to launch its first electric vehicles with extended range, which will offer over 600 miles of combined range. They will also feature high-performance batteries developed in-house.
We will deliver the full power of an electric vehicle with less than half the battery capacity, improving affordability, while maintaining exceptional range and performance, and eliminating range anxiety.
Technological Innovations
In 2026, Hyundai plans to introduce a cloud-based battery management system that promises faster and more accurate diagnostics. By 2027, next-generation batteries are expected, which will be 30% cheaper, have 15% higher energy density, and 15% faster charging times.
The company is also developing next-generation fuel cells for commercial vehicles, which will have high efficiency, durability, and power.
Expansion of the Genesis Brand
The luxury sub-brand Genesis plans to expand its lineup with hybrid, electric, and extended-range electric models. The first hybrid will appear as early as next year, and a new platform will support various energy configurations.
Genesis aims to achieve annual sales of 350,000 units by 2030, expanding its presence in the USA, Europe, Korea, China, the Middle East, and emerging markets. In Europe, the brand plans to have a presence in 20 countries.
In the United States, Genesis plans to strengthen its presence through local production and the launch of extended-range electric models. The company also mentioned “ultra-individualized cars,” which may indicate ambitions in the ultra-luxury segment.
Increase in Sales and Production
Overall, Hyundai plans to achieve global sales of 5.55 million vehicles by 2030, hoping for significant growth in North America, Europe, and Korea.
The Hyundai Metaplant in Georgia plans to increase its annual production capacity to 500,000 vehicles by 2028. Currently, it produces the Ioniq 5 and Ioniq 9, but hybrids will be added later.
The plant expansion involves the creation of 3,000 direct and indirect jobs and investments of $2.7 billion over three years. The company also aims to produce over 80% of vehicles sold in the US locally by 2030, increasing the share of local suppliers from 60% to 80%.
These plans demonstrate how seriously Hyundai is taking competition in the global market, especially in key regions such as North America. Increased production, innovations in electrification, and expanded model lineups could significantly boost their market share and brand recognition in the coming years.
