Hyundai wants 2 million EV sales by 2023

Hyundai Motor Company unveiled a long-term strategy, the ‘Hyundai Way’, at its recent 2024 CEO Investor Day. 

The plan targets 5.55 million annual global sales by 2030, up 30% from 2023, intending to sell 2 million EVs per year globally by 2030.

In addition, Hyundai plans to introduce new EREV models, a new type of EV with a range of more than 900 km on a single charge, in North America and China.

Hyundai wants to offer a full lineup of 21 EV models by 2030, ranging from affordable to luxury and high-performance vehicles.

In addition, it will introduce an enhanced next-generation hybrid system with improved performance and fuel efficiency and plans to expand HEV offerings to 14 models from the current seven. The Genesis luxury brand will also offer hybrid models.

Hyundai says it will continuously push for battery technology internalisation, the development of affordable NCM batteries, and the strengthening of safety technology.

It also aims to secure top-tier energy leadership during the energy transition period by strengthening Group-wide hydrogen technology capabilities across the value chain.