Hyundai Motor Company (005380) Investor Day 2024 summary

Strategic direction and future plans

• Aims to reach 100 million vehicles produced, become the fastest major OEM to do so, and transition into a future mobility brand focused on electrification and smart mobility solutions.

• Hyundai Way strategy emphasizes production flexibility, dynamic capabilities, and dual pillars of mobility and energy, with a flexible response to market shifts and a long-term commitment to electrification.

• Plans to expand hybrid lineup to 14 models, target 1.33 million hybrid sales by 2028, and increase HEV sales volume by around 40% by 2028, with regional deployment in North America, Europe, Korea, and other regions.

• Launching EREV (extended range EVs) in North America and China by 2027, offering up to 900 km range and positioning EREV as a new demand pillar.

• Targeting 5.55 million global sales units by 2030, with a strong focus on electrification, mobility services, and maintaining a 2 million EV sales goal for that year.

Business achievements and product innovation

• Achieved record-high 2023 sales revenue of KRW 162.7 trillion and operating profit of KRW 15.1 trillion, with 4.21 million units sold and all major credit agencies rating at "A" level.

• Surpassed 2 million global hybrid vehicle sales and ranked No.1 in J.D. Power 2024 U.S. Initial Quality Study among OEMs.

• Expanding HEV lineup, improving cost competitiveness, and deploying next-gen hybrid technologies across all brands, including Genesis.

• Launching 23 new EV models by 2030, covering mass-market, luxury, and high-performance segments.

• Accelerating smart manufacturing with global factory expansion, targeting an extra 1 million units by 2030 and leveraging HMGICS technology.

Technology, software, and new business developments

• Advanced battery strategy includes in-house design, diversified supply chain, next-gen battery R&D, and a 20% energy density improvement by 2030.

• Transitioning to software-defined vehicles (SDV) with centralized E/E architecture, OTA updates, and AI-driven enhancements, with mass production starting in 2026.

• Building a future mobility ecosystem via 42dot’s SW platform, with SDV deployment across ICE and EV lineups by 2029.

• Expanding autonomous vehicle foundry business, leveraging U.S. robotaxi experience for global rollout and diversified business models.

• Global manufacturing expansion includes new plants in the US, India, and Saudi Arabia, with a focus on localization, automation, and sustainability.