Hyundai Motor Company’s 2024 CEO Investor Day highlighted the company’s new strategy, the “Hyundai Way,” focused on becoming a leader in the evolving automotive and energy sectors. Hyundai aims to enhance its competitiveness in electric vehicles (EVs) and hybrid technologies, advance battery and autonomous vehicle systems, and position itself as a major player in energy mobilization. The strategy is designed to ensure agility and flexibility in responding to market changes, allowing Hyundai to expand beyond traditional vehicle manufacturing into broader mobility solutions and energy operations.
Key elements of the Hyundai Way include a significant expansion of the company’s hybrid and EV lineup, with plans to introduce 21 fully electric models by 2030. Hyundai is also developing a new Extended Range Electric Vehicle (EREV) to serve as a bridge to full electrification. The strategy includes ambitious sales targets, aiming for 5.55 million units globally by 2030, with 2 million of these being EVs. To support these goals, Hyundai is investing heavily in research and development, manufacturing innovation, and battery technology, including the development of affordable and advanced batteries, alongside a focus on safety and quality.
Hyundai also plans to lead in the transition to a software-defined vehicle (SDV) ecosystem, leveraging AI and digital technologies to enhance vehicle performance, safety, and user experience. This includes the development of an autonomous vehicle foundry business and the expansion of its hydrogen energy solutions through the HTWO brand. Financially, Hyundai is committed to substantial investments over the next decade, aiming to secure profitability and sustainable growth while enhancing shareholder returns. This comprehensive strategy underscores Hyundai’s ambition to be at the forefront of the global shift towards sustainable mobility and energy.
