Hyundai plans 100 new models to challenge Toyota, BYD
What's the story
Hyundai Motor has announced its biggest product push in history, with plans to launch over 100 new and refreshed models. The ambitious strategy was revealed at the company's CEO Investor Day in Seoul. The move is aimed at taking on Toyota in the US hybrid market and countering budget Chinese rivals globally.
Model expansion
Hyundai's new model strategy
Hyundai's new product strategy will see the company enter 18 new segments, including a mid-size pickup truck, light commercial vehicles, and body-on-frame vehicles.
Out of the 100 planned models, 58 will be launched in the US market. Europe will get 41 models, India will see 26 new launches, while China will have 22 additions to its fleet.
Market adaptation
Diversifying powertrain offerings
The new model strategy comes as Hyundai looks to diversify its powertrain offerings.
The company plans to balance electric vehicles with more hybrids and extended-range electric vehicles. This is in response to the weakening global demand for pure EVs.
In the US, a wider selection of hybrids will help maintain market share as consumers turn toward gas-electric cars due to rising fuel prices.
Upcoming models
Planned models in the next 8 months
Of the 100 planned models, seven will be launched within the next eight months.
These include an all-new Tucson midsize SUV and Tucson hybrid, a new Ioniq 3 compact EV, and Santa Fe extended-range EV.
The latter is expected to deliver over 966km of total range on a new battery that charges 40% faster than previous cells.
Capacity growth
Hyundai aims to add global production capacity by 2030
Hyundai plans to add nearly 1.3 million units of global production capacity by 2030. This includes 500,000 in North America, 320,000 in India and 200,000 in Korea.
The company also plans to increase local parts sourcing to 80% from the current 60%.
This strategy is expected to mitigate the impact of President Donald Trump's auto tariffs while keeping operating profit margins at 9% or more by 2030.
Brand expansion
Genesis to launch hybrid and extended-range EV next year
Hyundai's luxury Genesis brand will launch its first hybrid with the GV80 SUV and its first extended-range EV early next year.
The company also confirmed the opening of the Robot Metaplant Application Center at its Georgia plant in June.
The facility will expand 10-fold by year-end, with over 10,000 hours of robot learning data ahead of a planned production start in 2028 with an annual capacity of 30,000 units.