Hyundai Motor presents its new “Hyundai Way” strategy at the CEO Investor Day 2024 and outlines medium to long-term goals

• Hyundai Motor describes a flexible approach to responding to market conditions and focuses on electrification through its “Hyundai Way’ strategy

… The goal is 5.55 million annual sales worldwide by 2030, 30% more than in 2023

… The aim is to sell two million electric vehicles worldwide every year by 2030

… Plan to introduce new EREV models, a new type of electric vehicle with a range of more than 900 km on a single charge, in North America And China

… The aim is to offer a full range of 21 EV models by 2030, from affordable to luxurious and high-performance

• Introducing an enhanced next-generation hybrid system with improved performance and fuel efficiency

… plans to expand the HEV range from the current seven to 14 models; the luxury brand Genesis will also offer hybrid models

• Continue to promote the internalization of battery technology; develop affordable NCM batteries and strengthen safety technology
• Plans to commercialize the foundry business for autonomous vehicles; supply autonomous vehicles to global autonomous driving software companies
• The aim is to secure a leading position in the energy sector during the energy transition by strengthening Group-wide competencies in hydrogen technology along the entire value chain.
• A significant investment of KRW 120.5 trillion is planned by 2033 to support the “Hyundai Way” strategy
• Target shareholder return (TSR) of over 35% and launch a share buyback program of up to KRW 4 trillion from 2025 to 2027

SEOUL, South Korea, 28 August 2024 /PRNewswire/ — Hyundai Motor Company today held its CEO Investor Day 2024 and unveiled its new medium- to long-term strategy, “Hyundai way”.

At the event, the company announced its intention to increase the competitiveness of its electric vehicle (EV) and hybrid group, further develop its battery and autonomous vehicle technology and expand its vision as an energy mobilizer that responds flexibly to the market environment with its dynamic capabilities.

“As part of the Hyundai Way, we will respond flexibly to the market thanks to Hyundai’s unique flexible response system. This will secure a sustainable leadership position in an uncertain market environment and strategically position the company to create a future where mobility and energy are at the center,” said Jaehoon ChangPresident and CEO of Hyundai Motor Company. “Hyundai will strengthen its position as a game changer by expanding beyond vehicle manufacturing into various forms of mobility. By strengthening the role of energy companies and realizing a hydrogen society, we intend to transform ourselves into a company that can maintain its global leadership position in the era of energy transition.”

In 2024, Hyundai Motor secured its profitability and EV competitiveness in the market. These achievements were recognized from global rating agencies as the company received an “A” credit rating from major global rating agencies. In addition, Hyundai Motor has helped the Hyundai Motor Group become one of the top three automobile manufacturers in the world, with global annual sales of 4.21 million units in 2023.

“Hyundai Way” Detailed strategies and goals

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