Strategic roadmap

In the beginning of 2023, Hyundai Motor Company shared its strategic road map that is accelerating electrification. Hyundai is a South Korean multinational automotive manufacturer headquartered in Seoul, and founded in 1967. The company owns about one third of Kia Corporation. In addition, the company also fully owns two marques. They include its luxury cars subsidiary, Genesis Motor, and an electric vehicle sub-brand, Ioniq.

Hyundai tries to increase the sales of its Electric Vehicles (EVs), and will sell 1.87 million EVs by 2030. To realize this ambitious target, the company is planning to deliver 17 types of EV. In addition, it has 9 production facilities all over the world, so every facility started or will start the production of EVs. What’s more, the South Korean company will build a new factory for manufacturing only EVs in the US. This is because the company expect demand of EVs in the US continue growing.

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