Hyundai to Launch Over 100 New Models, Expanding Hybrid and EV Offerings

Hyundai Motor Company has announced its most extensive product expansion plan to date, with over 100 new or updated vehicle models set to be introduced globally. This initiative marks the largest scale product offensive in the company's history. Hyundai aims to leverage its expanded hybrid lineup to challenge Toyota in the United States and counter the competitive pressure from Chinese brands like BYD and Geely in other major overseas markets.

The plan, revealed at Hyundai's CEO Investor Day in Seoul, includes entering 18 previously unaddressed market segments. These segments will encompass mid-size pick-up trucks, light commercial vehicles, and body-on-frame SUVs. The new and updated models will be distributed across key regions, with the US receiving 58 models, Europe 41, India 26, and China 22. Some models will be available in multiple regions. The US is currently Hyundai's largest market.

This significant expansion of its product portfolio is part of Hyundai's strategic shift in powertrain focus. Following a slowdown in global EV demand, the company plans to increase its offerings of hybrid and extended-range electric vehicles (EREVs) while continuing to develop battery electric vehicles. In the US, increasing consumer preference for hybrids, driven by fuel prices, makes this segment crucial for Hyundai to maintain its market share.

Among the more than 100 planned models, seven are scheduled for release within the next eight months. These include the next-generation Tucson mid-size SUV and its hybrid variant, the compact electric vehicle IONIQ 3, and the first-ever Santa Fe EREV, which is targeted to offer over 966 km of range and feature new battery technology for 40% faster charging.

Hyundai intends to increase its global annual production capacity by nearly 1.3 million units by 2030, with North America accounting for 500,000 units, India 320,000, and South Korea 200,000. By 2030, more than 10 hybrid models are expected in North America, contributing nearly half of the region's sales. The company also plans to raise its local parts procurement ratio in North America from 60% to 80% to mitigate the impact of US automotive tariffs. The luxury brand Genesis will also expand its electrified offerings, with its first hybrid model, the GV80 SUV, and its first EREV model slated for unveiling soon, targeting over 1030 km of range. Genesis aims for 350,000 annual sales by 2030.