(March 3, 2022) SEOUL — Hyundai has unveiled a strategic roadmap to accelerate its electrification ambition as it pursues sustainable progress for the company. The roadmap for Hyundai’s battery electric vehicle (BEV) is supported by strengthening BEV line-ups, optimizing manufacturing capacity, and securing hardware and software competitiveness. Under the plan, the company aims to boost annual global BEV sales to 1.87 million units and secure a 7 percent level of global market share by 2030

President and CEO Jaehoon Chang and other executives presented the plans to  shareholders and investors, and other various stakeholders at the ‘2022 CEO Investor Day’ virtual forum. The company also unveiled targets for sales and financial performance to be achieved by 2030.

By 2030, Hyundai also targets to achieve an operating profit margin of 10 percent or higher in EV businesses by enhancing competitiveness in hardware and software capabilities with an expanded line-up. On a consolidated basis, it aims to secure an operating profit margin of 10 percent.



“Hyundai is successfully accelerating its transition to electrification and becoming a global leader in EVs despite a challenging business environment caused by the global chip shortage and ongoing pandemic,” said Chang. “Along with our seamless efforts to improve EV value, Hyundai Motor will continue to secure its business sustainability as a ‘Mobility Solutions Provider’ through advanced technologies of not only hardware but also software.”

Hyundai plans to introduce 17 BEV models; 11 Hyundai marque models along with six models from Genesis luxury brand by 2030 as it seeks to expand BEV spectrum. The new Hyundai BEV models will include three sedan models, six SUVs, one light commercial vehicle as well as one new type model. This year, Hyundai begin sales of IONIQ 6, followed by IONIQ 7 in 2024.

Genesis luxury brand, the BEV line-up consists of two passenger cars and four SUVs, including the Electrified GV70 launching this year. Starting in 2025, all newly launched models from Genesis will be electrified.