South Korean automaker Hyundai Motor revealed plans on Wednesday to expand its total production capacity by 1.27 million vehicles by 2030, while also rolling out more than 100 new or updated models in a bid to strengthen its competitive edge in global markets. During a CEO Investor Day event held in Seoul, Chief Executive Jose Munoz outlined the strategy, which is designed to address intensifying competition, particularly from Chinese rivals.
The automaker stated its intention to introduce dozens of brand-new or refreshed models over the next decade, encompassing facelifts, partial redesigns, and other variants, with 18 of these being entirely new vehicles. Later this year, Hyundai plans to launch the Genesis GV80 hybrid model in both South Korea and the United States, followed by the introduction of an extended-range electric vehicle (EREV) in the first half of 2027. One of its best-selling models, the Tucson SUV, along with its hybrid version, is also slated for release in the second half of this year.
To support its expanded lineup and sales ambitions, Hyundai intends to significantly increase its global manufacturing footprint from the current approximate level of 5 million units. The targeted additions include 500,000 units in North America, 320,000 in India, 200,000 in South Korea, and another 250,000 to be produced through completely knocked-down (CKD) assembly operations. The company is maintaining its previously announced sales objectives, which include reaching global sales of 5.55 million vehicles by 2030 and raising the proportion of pure electric vehicles to 60% of total global sales in that same year.
In the realms of autonomous driving and future mobility, Hyundai said it will deepen cooperation with global partners to accelerate the development of software-defined vehicles (SDVs) and self-driving technology. In the fourth quarter of this year, the company plans to deliver autonomous taxis based on the Ioniq 5, built at its U.S. metaplant (HMGMA) in Georgia, to autonomous driving technology firm Waymo. Starting in 2028, Hyundai also intends to deploy Boston Dynamics' Atlas humanoid robots at the HMGMA facility, advancing the commercialization of physical artificial intelligence and broadening the application of robotics in manufacturing.
Anticipating a surge in autonomous driving data by 2029, the company plans to activate an AI data center in the Saemangeum reclaimed area on South Korea's southwestern coast. This facility, with 100 megawatts of computing power, is expected to house more than 50,000 graphics processing units (GPUs). In a regulatory filing, Hyundai also announced plans to buy back its own shares worth 789.1 billion won (approximately $569.8 million).