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SEOUL: Hyundai Motor said on Wednesday it would launch or \u200brefresh more than 100 vehicles globally by 2030 and expand its U.S. hybrid lineup, as the South Korean automaker seeks to lift its operating profit margin \u200cabove 9%.<\/p>\n
In what it described as its largest-ever product rollout, Hyundai plans to introduce 58 models in North America by 2030 as it aims to gain share in segments where it has limited presence and fend off growing competition.<\/p>\n
The strategy represents a \u201cproduct offensive across every region,\u201d Hyundai said in a statement from its 2026 CEO investor day in Seoul on Wednesday, adding that it was targeting \u201cwhite spaces\u201d where its brand remains underrepresented.<\/p>\n
\u201cThese segments account for roughly \u200b29% of all automotive sales, highlighting significant opportunities for growth.\u201d<\/p>\n
Hyundai Motor shares fell 3.3%, lagging the broader market\u2019s 1.3% gain (.KS11), after the company maintained its shareholder return ratio \u200bof at least 35% of net profit.<\/p>\n
HYBRID EXPANSION<\/strong><\/p>\n Hyundai said it would add 1.27 million units of global production capacity by 2030, including 500,000 in \u2060North America.<\/p>\n \u201cOur fundamentals have never been stronger,\u201d CEO Jose Munoz said, pointing to Hyundai Motor Group\u2019s global position.<\/p>\n Hyundai Motor, together with affiliate Kia (000270.KS) is the world\u2019s third-largest automaker by sales.<\/p>\n It plans \u200bto introduce 10 hybrid models in North America by 2030 and said hybrids would account for half of its regional sales by then.<\/p>\n The push comes as higher gasoline prices linked to the Iran \u200bwar have strengthened demand for fuel-efficient vehicles, particularly hybrids.<\/p>\n About 56% of U.S. car buyers said rising gasoline prices made them more likely to consider a hybrid, according to Cox Automotive. Hybrid sales rose 19% in the first half of 2026, according to Omdia, while Hyundai\u2019s hybrid sales climbed 71% in the second quarter.<\/p>\n However, Hyundai\u2019s U.S. expansion faces trade policy risks from the ongoing review of the U.S.-Mexico-Canada Agreement (USMCA), which governs duty-free access for \u200bvehicles and parts traded across North America.<\/p>\n U.S. officials have declined to extend the agreement automatically, raising the prospect of annual reviews and adding uncertainty for long-term investment plans that rely on \u200bcross-border supply chains.<\/p>\n Munoz told Reuters he was concerned about U.S. tariffs but said Hyundai would manage their impact.<\/p>\n The company faces a 15% U.S. tariff on autos under a trade deal signed by Seoul and Washington \u200clast year.<\/p>\n \u201cOf course,\u201d \u2060Munoz said when asked whether he was worried about tariffs. \u201cWe have to deal with them. We\u2019ll have to handle the situation.\u201d<\/p>\n \u201cI\u2019m not especially worried as long as it applies to everybody,\u201d he added, when asked whether he was concerned tariffs could rise further.<\/p>\n Munoz also described Chinese automakers as \u201cvery good\u201d and \u201cgetting better.\u201d<\/p>\n He said it remained unclear whether Chinese automakers would enter the U.S. market directly, but noted their technology could increasingly reach U.S. consumers through partnerships with other automakers.<\/p>\n Competition from Chinese rivals had made Hyundai stronger, he said, adding the company was sharpening its edge through better technology \u200band design, improved features, economies of scale, cost \u200bcuts and greater synergies across Hyundai Motor \u2060Group.<\/p>\n \u201cI think we\u2019re probably one of the few groups that could compete in any market where we have to compete with them,\u201d he said.<\/p>\n ROBOTICS<\/strong><\/p>\n Hyundai also outlined plans to broaden its businesses, including robotics, autonomous driving and robotaxis.<\/p>\n The company said it would begin mass production of software-driven vehicles equipped \u200bwith Level 2+ advanced driver-assistance systems in 2028, in collaboration with Nvidia.<\/p>\n It said deliveries of IONIQ 5 vehicles to Alphabet\u2019s Waymo for use \u200bas robotaxis would begin in \u2060the fourth quarter of 2026. Hyundai\u2019s Motional venture is also due to launch driverless commercial services later this year, initially in Las Vegas.<\/p>\n The automaker said it would begin U.S. production of robots in 2028, targeting annual capacity of 30,000 units. It also plans to deploy Boston Dynamics\u2019 Atlas humanoid robot at its Georgia Metaplant from 2028.<\/p>\n Hyundai is testing the use of humanoid robots in vehicle production at a \u2060Georgia facility \u200bthat replicates factory-floor conditions. Hyundai also reaffirmed its target of selling 5.55 million vehicles globally by 2030, equivalent to a 6% market share, and said electrified vehicles would account for 60% of sales by then, \u200bup from 23% in 2025.<\/p>\n<\/div>\n
The company raised its 2030 consolidated operating margin target to above 9% from its previous 8%-9% \u200brange, while keeping its 2026 margin guidance at 6.3%-7.3%.<\/p>\n