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Hyundai Motor company vowed to invest 60.1 trillion won in future businesses to achieve a 5 percent global market share and secure an 8 percent operating profit in the automotive sector by 2025.
Dubbed the “2025 Strategy,” the future businesses consist of innovative mobility solutions and core business strategies such as electric vehicles, autonomous driving, fuel cells and hydrogen ecosystem, and urban air mobility.
Hyundai eyes sales of 560,000 vehicles per year by 2025 jumpstarted by the launch of its Ioniq 5 in 2021, .
Hyundai would also introduce over 12 battery electric vehicle models, including those built upon E-GMP, the company's platform for electric cars.
For its Genesis luxury brand, Hyundai will come up with a dedicated battery electric vehicle model and a derived electric model in 2021.
After the local and US markets, Hyundai intends to expand its Genesis brand in China and Europe to build awareness and demand for the eco-friendly luxury brand.
Hyundai aims to achieve an 8 to 10 percent share of the global electric vehicle market by 2040 when it fully electrifies its product lineup in major global markets.
Starting 2030, Hyundai will expand battery electric vehicle offerings in key markets such as the US, Europe, and China, while supporting the wider use of EVs in emerging markets such as Russia, India, and Brazil.
