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Hyundai and Kia: Expanding HEV/EV models, strengthening US business
Hyundai strengthening HEV & hydrogen strategy, Kia pursuing EV & PBV market strategy
2025/04/07
- Summary
- Hyundai Motor Group global sales volume
- Hyundai Group production sites (after 2024)
- Hyundai's mid- to long-term plan: Strengthening development of HEVs and EREVs, expanding to 21 EV models
- Kia's mid- to long-term plan: Investing KRW 38 trillion over 5 years in electrification, PBV, and SDV
- Hydrogen strategy: Carbon neutrality by 2045
- GlobalData Sales Forecast: Hyundai Group’s light vehicle sales in 2028 will be 7.50 million units
Summary
In the 57 years since starting it automobile business, Hyundai Motor Company (Hyundai) achieved cumulative vehicle production of 100 million units on September 30, 2024. The Hyundai Motor Group achieved global sales of 7.23 million units in 2024 and aims to be among the top three global OEMs in 2025. On March 24, 2025, the group announced plans to invest USD 21 billion between 2025 and 2028 in the United States, the group's largest market. It will invest USD 9 billion in its automotive division to establish an annual production capacity of 1.2 million vehicles in the US.
Hyundai has set its sales target for 2030 at 5.55 million units, 350,000 units lower than its initial plan (2023) of 5.9 million units. Amid rising demand for hybrid electric vehicles (HEVs), the company plans to launch 14 vehicle models equipped with new hybrid systems from January 2025, with a particular focus on strengthening sales in the North American market. The company aims to increase HEV sales volume to 1.33 million units in 2028, an increase of more than 40% compared to 2023. Hyundai also has a vision of achieving carbon neutrality by 2045, and is planning to grow and differentiate its hydrogen business in particular.
Kia Corporation (Kia) will offer a variety of electric vehicles and customizable mobility solutions to strengthen its position in the global market. Through its electrification strategy, especially focusing on the EV and PBV (Platform Beyond Vehicle) markets, the company aims to achieve annual sales of 4.3 million units by 2030.
Related reports:
Bharat Mobility Global Expo 2025: BEVs in India (Feb. 2025)
Los Angeles Auto Show 2024: HMI in the U.S. Market (Jan. 2025)
Hyundai Motor Group’s Communication Technology (Nov. 2024)
Korean Market and OEM Activities: Slowdown in EV Demand, Expanding HV lineup (Jul. 2024)
HMI Comparison of 6 BEV Models - Major C-segment SUVs (Mar. 2024)
Korean Battery Supplier Operations in North America (Jan. 2024)
Korean Market and Brands: Public and Private Sectors Building EV/Battery Production Capacity (Jul. 2023)
Hyundai to sell 1.87 million EVs a year by 2030 (Mar. 2023)
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