'Hyundai Way': Auto giant's W121tr plan aims to seize mobility market lead


Hyundai Motor Group is embarking on an ambitious journey into the future by committing to invest 120.5 trillion won ($90.3 billion) over the next decade. This significant investment is aimed at ensuring Hyundai's adaptability in the face of uncertain mass adoption of electric vehicles. Key elements of this strategy include the development of advanced hybrid systems, an expanded range of hybrid vehicles, and the introduction of extended range electric vehicles (EREVs) that combine the strengths of internal combustion engines and EVs. Additionally, the company is venturing into new mobility sectors by launching a business to supply autonomous vehicles to software companies. During Hyundai's CEO Investor Day, the company unveiled its long-term strategy, "Hyundai Way," which includes a 10 percent increase in investment compared to the previous 10-year plan. This investment breakdown comprises 54.5 trillion won for research and development, 51.6 trillion won for capital expenditures, and 14.4 trillion won for strategic investments. Hyundai's core strategy aims to enhance profitability across its internal combustion, hybrid, and EV segments, with a goal to achieve a consolidated operating margin of over 10 percent by 2030. The company also plans to expand its hybrid vehicle lineup and introduce advanced technologies to improve performance and fuel efficiency without increasing costs. Hyundai is also focusing on addressing the slow pace of EV adoption by launching EREVs in 2026, which will operate primarily as electric vehicles but feature an internal combustion engine to recharge the battery and extend the vehicle's range. The company is heavily investing in battery technology to enhance EV performance, safety, and cost efficiency, with plans to develop its own entry-level nickel-cobalt-manganese battery and improve battery energy density by over 20 percent by 2030. Additionally, Hyundai is making significant investments in advancing autonomous driving technology and software-driven vehicles, as well as enhancing hydrogen technology and building a comprehensive hydrogen ecosystem through its HTWO brand.


Previous Post Next Post