Hyundai targets 5.5 million sales by 2030 with 60% EVs
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Hyundai just set a big goal: sell 5.5 million vehicles worldwide by 2030, and make electric cars the majority of those sales.
It's aiming for EVs to jump from 23% of its sales in 2025 to a massive 60% by 2030.
To get there, Hyundai plans to expand its factories and add 1.27 million units of global manufacturing capacity by 2030.
Hyundai eyes over 9% operating margin
The company's ramping up EV output, especially with its Santa Fe extended-range electric vehicle at its Alabama plant. It also aims to lift its operating margin to more than 9% by 2030.
Hyundai (with Kia) is already the world's third-biggest carmaker, but competition is heating up fast in the EV race.
On the day of the announcement, Hyundai shares dipped slightly even as South Korea's stock market climbed.