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2026
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Hyundai Plans to Double Sales in China, Launch 36 New Models in North America by 2030
On March 26, at the annual general meeting, Jose Muñoz, Chief Executive Officer of Hyundai Motor, stated that the South Korean automaker has set a mid-term target of achieving annual sales of 500,000 units in the Chinese market, representing a more than doubling of its current sales volume.
Although nearly all multinational automakers face severe challenges in China, the market remains another key growth target for Hyundai. To achieve its sales doubling goal, following the launch of the Elexio all-electric SUV last October, the company plans to introduce an additional 20 new models in China by 2030, with a compact all-electric sedan to follow.
Hyundai’s target of 500,000 units in China stands in sharp contrast to its current annual sales of approximately 220,000 units. The automaker’s peak sales in China occurred in 2016, when it reached 1.16 million units, followed by a steep decline thereafter. Hyundai is also among the foreign automakers most severely impacted by the strong rise of domestic Chinese electric vehicle brands.
Hyundai Motor also announced that in North America, its most profitable market, it plans to launch 36 new models by 2030. This figure includes different powertrain variants of each model, such as battery electric, hybrid and internal combustion engine versions. Hyundai currently offers 25 models across North America, 20 of which are available in the United States.
The company’s plans in the U.S. market are underpinned by a $26 billion investment commitment dedicated to expanding production, building a regional supply chain, and forging technological partnerships with firms including NVIDIA, Waymo and Google DeepMind.
A long-range electric vehicle from Hyundai with a range exceeding 600 miles is set to enter the U.S. market in 2027. The automaker also plans to launch its first body-on-frame midsize pickup truck by 2030, a move aimed at entering the segment that delivers the highest profit margins for U.S. domestic automakers.
While several models under General Motors are exported from South Korea, Hyundai will adopt the opposite strategy by producing these vehicles locally in the U.S. rather than manufacturing them in South Korea.
Hyundai’s Metaplant in Georgia, U.S., began production in March 2025 and currently builds the Ioniq 5 and Ioniq 9. This year, it will add hybrid vehicle production and start manufacturing the Ioniq 5 prototype equipped with Waymo’s autonomous driving system.
The plant drew widespread attention last year following a raid by U.S. Immigration and Customs Enforcement that resulted in the arrest of 450 employees. The South Korean government warned at the time that the incident could affect its investment plans in the U.S., but related tensions have since largely eased.
Regarding U.S. tariff policies that have severely hit numerous automakers, Hyundai’s overall strategy regards tariff fluctuations as opportunities rather than constraints—a consistent optimistic stance adopted by Muñoz since taking office in January 2025.
Despite the 15% U.S. tariff on imported automobiles, Hyundai’s North American sales rose 8% last year to 1.2 million units, with the Tucson, Elantra, Santa Fe and Ioniq 5 all setting annual sales records. The company aims to localize 80% of vehicles sold in the U.S. by 2030, up from around 50% at present.
Meanwhile, technological positioning has grown increasingly important in Muñoz’s strategy outlined to investors. Hyundai is making multi-pronged efforts to become a leader in software-defined vehicles, having launched the Pleos software brand in March 2025.
The company also plans to adopt 50,000 NVIDIA Blackwell chips to enhance manufacturing and in-vehicle artificial intelligence capabilities. Other plans under the Hyundai Group include expanding annual production capacity of Boston Dynamics’ Atlas humanoid robots to 30,000 units by 2028, and continuing to advance autonomous driving partnerships through 42dot, Motional, Waymo and other enterprises.
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