Hyundai Motor Unveils New 'Hyundai Way' Strategy and Outlines Mid- to Long-Term Goals at 2024 CEO Investor Day

…    Plan to introduce new EREV models, a new type of EV with a range of more than 900 km on a single charge, in North America and China

…    Aiming to offer a full lineup of 21 EV models by 2030, ranging from affordable to luxury and high-performance

…    Plans to expand HEV offerings to 14 models from the current seven; Genesis luxury brand will also offer hybrid models

SEOUL, South Korea, Aug. 28, 2024 /PRNewswire/ -- Hyundai Motor Company hosted its 2024 CEO Investor Day today, unveiling its new mid- to long-term strategy, the 'Hyundai Way'. 

At the event, the company disclosed its commitment to enhancing its electric vehicle (EV) and hybrid competitiveness, advancing its battery and autonomous vehicle technologies, and expanding its vision as an energy mobilizer, responding to the market environment flexibly with its dynamic capabilities.

"Under the Hyundai Way, we will respond to the market with agility thanks to Hyundai's unique flexible response system. This will secure sustainable leadership in an uncertain market environment and strategically position the company to create a future centered on mobility and energy," said Jaehoon Chang, President and CEO of Hyundai Motor Company. "Hyundai will strengthen its position as a game changer by expanding beyond vehicle manufacturing to various forms of mobility. By enhancing the role of energy business operators and realizing a hydrogen society, we intend to transform into a company that can maintain global top-tier leadership in the era of energy transition."  

In 2024, Hyundai Motor secured its profitability and EV competitiveness in the market. These achievements were recognized by global rating agencies as the company earned an 'A-grade' credit rating from major global credit rating agencies. Moreover, with a global sales annual volume of 4.21 million units in 2023, Hyundai Motor helped Hyundai Motor Group to become one of the top three automakers globally.

'Hyundai Way' Detailed Strategies & Targets

‒ New EREV to serve as key bridge to full electrification

‒ Full EV lineup of 21 models by 2030

‒ Develop new affordable NCM battery & safety tech

○ Mobility Game Changer

‒ Autonomous vehicle foundry business

‒ Next-generation infotainment system & open ecosystem

‒ Reveal SDV Pace Car equipped with High-Performance
Vehicle Computer (HPVC) architecture in 2026

○ Energy Mobilizer

‒ Expand the HTWO fuel cell system lineup

‒ Clean logistics business starting with HMGMA

‒ 2 million EV sales by 2030

○ Mid-to long-term Investment Plans

‒ Total: KRW 120.5 trillion (2024 ~ 2033)

▲ R&D KRW 54.5 trillion

▲ CAPEX KRW 51.6 trillion

▲ Strategic Investment KRW 14.4 trillion

○ Profitability Target

‒ 2030 OP margin over 10% (consolidated basis)

○ Expanding Shareholder Return Policy

‒ 2024 annual dividend: min. KRW 10,000

‒ 2025 – 2027

New total shareholder return (TSR) concept: 35%+

Target annual average ROE 11 ~ 12%

Quarterly dividend of KRW 2,500

More information about Hyundai Motor and its products can be found at: https://www.hyundai.com/worldwide/en/ or Newsroom: Media Hub by Hyundai 

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