From EVs for India to raising output, Hyundai Motor outlines 2030 plans

Hyundai Motor projects 60 per cent EV sales share by 2030, unveils India's first locally designed EV and outlines regional strategies, battery upgrades and global production goals

Electric vehicles (EV) will by 2030 comprise around 60 per cent of Hyundai Motor Company’s projected global sales of 5.55 million, said the South Korean automaker on Friday as it committed to expanding manufacturing in India. 

Of the 1.2 million units targeted to be manufactured globally by 2030, as many as 250,000 will at the Pune multi-model export hub. The company will roll out the first EV designed for Indian drivers and meant to gain from the local supply chain. The company’s roadmap for 2030 expects significant growth in North America, Europe and Korea as EV sales reach 3.3 million. 

“In an industry facing unprecedented transformation, Hyundai is uniquely positioned to win through our unmatched combination of compelling products, manufacturing flexibility, technology leadership, outstanding dealer partners and global scale,” said José Muñoz, President and chief executive officer (CEO) of Hyundai Motor, in New York. 

“We are delivering comprehensive electrified portfolios across all segments, localising production in key markets, and leveraging breakthrough technologies. Our ability to adapt quickly, combined with the power of Hyundai Motor Group’s over 50 affiliates and our unwavering commitment to customers, will enable us to continue unlocking tremendous value for our stakeholders. It’s a great time to be with Hyundai,” he said at the company’s first CEO Investor Day outside Korea. 

Muñoz said the company has become a global mobility leader through strategic product expansion and its “breakthrough electrification technologies are redefining the automotive experience”. 

The company will add 18 models to its hybrid vehicles range by 2030 and launch its first mid-size pickup truck — one of the largest segments in the automotive industry — before that in North America. Since launching the Santa Cruz truck in 2021, the company has gained “valuable experience” and brand presence to broaden its reach in the US market. 

The new Hyundai Palisade hybrid car will have “next-generation TMED-II technology” for enhanced performance and fuel efficiency, said the company. 

IONIQ 3, an electric car, will target the European mass market with “next-generation infotainment systems”. China will get the locally produced Elexio SUV and C-segment electric sedan, marking a major milestone in Hyundai Motor’s commitment in that country. The new additions will complement the company’s EV line-up — including IONIQ 5, IONIQ 6 and IONIQ 9 — to provide a “full spectrum of options for consumers across diverse markets”. 

Hyundai Motor will expand its commercial vehicles portfolio in North America and enter the electrified large van market. 

“The offerings will leverage the company’s commercial vehicle production hubs to support sustainable logistics solutions,” it said.

 

As part of an investment plan announced in August, Hyundai Motor Group Metaplant America is set to reach production capacity of 500,000 units by 2028, focusing on hybrid and EVs. Production expansion will create 3,000 direct and indirect jobs in Georgia state and involve a $2.7 billion investment over three years.

 

Assembly units in Saudi Arabia, Vietnam, North Africa and other countries are expected to contribute another 250,000 units. 

Growth road map

• India to get first locally designed EV with localised supply chain
• Pune hub to contribute 250,000 units out of 1.2 million planned capacity expansion
• Hybrid lineup to expand to 18+ models by 2030; genesis hybrids from 2026
• North America to get Hyundai’s first mid-size pickup before 2030
• Battery strategy (2027): 30% cost cut, 15% higher density, 15% faster charging