Hyundai Motor Sets 2030 Sales Target of 5.5 Million Units and Outlines EV Growth Strategy

South Korean automaker Hyundai Motor announced on Wednesday that it has set a global vehicle sales target of 5.5 million units for 2030. As part of its long-term strategy, the company aims for electric vehicles to account for 60 per cent of its total sales mix by 2030, marking a significant increase from the 23 per cent target projected for 2025.

Alongside its sales targets, Hyundai Motor outlined comprehensive growth plans spanning electric vehicles, manufacturing expansion, and artificial intelligence. The automaker stated that it aims to lift its operating margin to more than 9 per cent by the end of the decade.

To support its production goals, Hyundai Motor plans to add 1.27 million units of global manufacturing capacity by 2030. This includes specific plans to ramp up production in the United States, such as building the Santa Fe extended-range electric vehicle (EREV) at Hyundai Motor Manufacturing Alabama.

Hyundai Motor, operating alongside its affiliate Kia Corp, currently holds the position of the world's third-biggest automaker by sales.

In the markets, shares of Hyundai Motor were trading down 0.1 per cent on Wednesday. In comparison, the benchmark KOSPI index recorded a 1.5 per cent rise as of 0508 GMT.

"Hyundai Motor's strategic shift toward a 60 per cent EV sales mix by 2030 reflects a disciplined adaptation to global automotive trends. By coupling aggressive manufacturing expansion—such as boosting US production—with a clear target of surpassing a 9 per cent operating margin, the company is balancing volume growth with profitability. For traditional automakers, scaling electric vehicle infrastructure while maintaining manufacturing efficiency remains a critical benchmark for long-term market competitiveness." — Dr. Shishir Gupta, Founder & CEO, StartupLanes