José Muñoz, president and CEO of Hyundai Motor, said on the 20th that the company will aggressively launch global new models tailored to each customer's expectations. The plan is to secure market leadership by rolling out 20 new models in China and 26 in India over the next five years.
Muñoz said this in a CEO letter sent ahead of the regular shareholders meeting, noting, "Customer needs differ in each region. We will develop, produce, and sell products optimized for customers' road environments and lives."
First, in the domestic market, the company will launch new models of the compact SUV Tucson and the compact sedan Avante. In China, under the strategy of "in China, for China, to the world," it plans to launch 20 new models over the next five years and reach annual sales of 500,000 units.
In North America, it will launch extended-range electric vehicles (EREVs) starting in 2027. An EREV charges the battery with an engine. The single-charge driving range exceeds 600 miles (about 965 kilometers). The company also plans to launch Hyundai Motor's first body-on-frame midsize pickup truck before 2030.
In Europe, it will launch the Ioniq 3 electric vehicle. It is scheduled to be unveiled for the first time in the world at Milan Design Week in Italy in Apr. The company plans to add electrified models to all vehicle lines sold in Europe by 2027.
In addition, Hyundai Motor decided to introduce 26 new models in India. It said it will invest $5 billion by 2030 and launch a locally strategized electric SUV developed, designed, and manufactured entirely in the country.
Muñoz also emphasized localization. He said new production bases are being built in the United States, India, Saudi Arabia, and Vietnam. Through this, Hyundai Motor plans to expand its global annual production capacity by 1.2 million units by 2030.
Muñoz said Hyundai Motor Group will accelerate its shift to physical artificial intelligence (AI). "We will strengthen the group's technology platform Pleos and accelerate development of Autonomous Driving technology as a core element of this platform," he said, adding, "We plan to equip the Ioniq 5 produced at Hyundai Motor Group Metaplant America (HMGMA) with Autonomous Driving–specialized specifications and supply it to (Google) Waymo."
Muñoz added, "We will deploy Boston Dynamics' Humanoid Robot Atlas at HMGMA and establish a system to produce 30,000 robots annually by 2028," and "We will also accelerate development of next-generation robot AI technology through a strategic collaboration with Google DeepMind."
He said appointing President Manfred Harrer as head of research and development (R&D) through last year's regular personnel reshuffle and bringing in President Park Min-woo, who led Autonomous Driving technology organizations at Nvidia and Tesla, as head of the Advanced Vehicle Platform (AVP) division are also part of the process of transforming into a technology-centered company.
Muñoz also said, "The global trade environment remains uncertain, with tariff pressure, exchange rate fluctuations, and geopolitical tensions," emphasizing, "We will continue the spirit of founding Chairman Chung Ju-yung, who expanded the business by turning uncertainty into opportunity."