Hyundai Intends To Increase Global Sales By 30% In 2030

Auto company Hyundai Motor aims to reach 5.55 million in annual global sales by 2030, a 30 percent increase over 2023, the company said at its 2024 Investor Day on Wednesday.

Anadolu Agency reports that the South Korean automaker also aims to sell two million electric vehicles (EVs) annually worldwide by 2030. By then, Hyundai plans to offer a full line of 21 EV models and expand the hybrid range to 14 models.

The company will invest 120.5 trillion won ($90.3 million) by 2033 to support these initiatives, or the “Hyundai Way” strategy, including developing new battery technologies and autonomous driving capabilities.

The company is looking to improve its “game-changing” position by expanding beyond vehicle production, said Jaehoon Chang, president and CEO of Hyundai Motor Company. “We intend to transform ourselves into a company that can maintain global leadership in the era of energy transition,” he added.

Hyundai Motor Group has become one of the three largest car manufacturers in the world with an annual global sales volume of 4.21 million units in 2023.

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