As Hyundai Motor Company continues sustainable progress, zamAt the same time, it also announced a strategic roadmap to accelerate its electrification target. According to the strategy announced by HMC senior management, Hyundai focuses on sales and financial performance targets by 2030.
The roadmap of Hyundai's next generation electric vehicles (BEV) is supported by: strengthening BEV product lines, optimizing production capacity, securing hardware and software competitiveness. Under the plan, Hyundai aims to increase annual global BEV sales to 1,87 million units and secure a global market share level of 2030 percent by 7. Hyundai also shared its medium and long-term financial goals. While Hyundai invests $16 billion for electrification, it will realize all its innovations under the Hyundai and Genesis brands.
Hyundai aims to achieve a 2030 percent higher operating margin in EV sales by increasing its competitiveness in hardware and software capabilities with an expanded product line-up by 10. On a consolidated basis, it aims to provide an operating profit margin of 10 percent.
Hyundai aims to establish a highly efficient production process in BEV production to accelerate its transition to electrification. As the cornerstone of innovation in the South Korean brand's mobility value chain, the Hyundai Motor Global Innovation Center (HMGICS) in Singapore will build a human-centered manufacturing innovation platform.
In addition to existing BEV production facilities in Korea and the Czech Republic, Hyundai zamIt will also benefit from the Indonesian factory that it will open at the same time. Thus, Hyundai, which plans to gradually expand its BEV production bases, will serve all markets more actively. In addition, Hyundai will diversify its battery supply to increase the competitiveness of future BEVs.
As Hyundai shared at the beginning of 2022, it plans 13-14 percent consolidated revenue growth and 5,5-6,5 percent annual consolidated operating margin this year. The company also targets total vehicle sales to exceed 4,3 million units.
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