(2nd LD) Hyundai Motor to expand global production capacity, launch over 100 models by 2030

Hyundai Motor Co. announced on Wednesday its strategy to expand its production capacity by 1.27 million units by 2030 and introduce over 100 new or updated vehicle models globally. CEO Jose Munoz highlighted this plan during a CEO Investor Day event in Seoul, as Hyundai seeks to compete with Chinese automakers. The company will launch 18 all-new models, including facelifts and partial redesigns, with 10 new hybrid electric vehicle (HEV) models in North America by 2030.

Hyundai aims to raise hybrids to 50 percent of its sales in the region, with the GV80 hybrid and Santa Fe extended-range electric vehicle (EREV) set to launch in the first half of 2027. The company also plans to introduce the Ioniq 3 EV in Europe, a compact electric SUV and compact model with both EV and EREV variants in China, and a compact electric SUV in North America.

Hyundai's global production capacity will increase significantly by 2030, up from 5 million vehicles, with plans for 500,000 units in North America, 320,000 in India, 200,000 in South Korea, and 250,000 through CKD production. The automaker maintains its sales targets of 5.55 million vehicles globally by 2030 and a 60 percent electrified vehicle share in the same year.

Hyundai also aims to raise its operating margin to above 9 percent by 2030, up from the previously projected 8-9 percent range.