Hyundai Motor just lately held its 2024 CEO Investor Day in Seoul, discussing its mid-to-long-term targets. The corporate unveiled its new “Hyundai Manner” technique, which covers the steps it should take to diversify its portfolio by providing electrical, hybrid, and hydrogen automobiles or modes of transportation.
“Beneath the Hyundai Manner, we’ll reply to the market with agility because of Hyundai’s distinctive versatile response system. This may safe sustainable management in an unsure market atmosphere and strategically place the corporate to create a future centered on mobility and vitality,” famous President and CEO of Hyundai Motor Firm Jaehoon Chang.
Hyundai’s EV Technique
By means of the Hyundai Manner, the South Korean firm goals to achieve an annual international gross sales of 5.55 million items by 2030, up 30% from 2023. Electrical automobiles (EVs) will make up a major chunk of Hyundai’s gross sales as the corporate goals to promote 2 million EVs yearly worldwide by 2030.
Hyundai has began ramping up native manufacturing to achieve its EV targets, particularly specializing in manufacturing its common IONIQ BEV collection. As an illustration, it began producing IONIQ automobiles domestically in Thailand and Singapore this yr. The corporate additionally goals to start making the IONIQ 5 EV in the US subsequent yr at its Georgia plant.
Hyundai’s Hybrid Plans
Hyundai additionally plans to ramp up hybrid automobile releases over the following few years. As an illustration, its new Metaplant in Georgia will produce hybrid automobiles alongside pure EVs. The corporate has in depth expertise within the hybrid automobile market because of its TMED hybrid system.
Hyundai plans to launch its next-generation TMED-II hybrid system in upcoming giant and luxurious automobiles, going past its standard compact and midsize hybrid automobile choices. As such, the corporate will double its hybrid choices from seven to 14 fashions.
Hyundai Hydrogen Targets
In terms of hydrogen mobility, Hyundai is concentrating on particular hard-to-abate sectors like oil, cement, and metal.
By means of its hydrogen worth chain enterprise model, HTWO, Hyundai plans to develop its gas cell lineup to completely different modes of transportation like trams/trains, airplanes, and ships.
“Hyundai will strengthen its place as a sport changer by increasing past automobile manufacturing to numerous types of mobility. By enhancing the function of vitality enterprise operators and realizing a hydrogen society, we intend to remodel into an organization that may keep international top-tier management within the period of vitality transition,” Chang stated.
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