- More than 100 models will launch or be refreshed globally by 2030
- North America will receive more than half of planned vehicle updates
- Shares fall despite a broader gain in the KOSPI
SEOUL, Aug 26 (Reuters) - Hyundai Motor said on Wednesday it would launch or refresh more than 100 vehicles globally by 2030 and expand its U.S. hybrid lineup, as the South Korean automaker seeks to lift its operating profit margin above 9%.
Under what it described as its largest-ever product rollout, Hyundai plans to introduce 58 models in North America by 2030, as it seeks to gain share in vehicle segments where it has limited presence and fend off growing competition.
It is a "product offensive across every region," Hyundai said in a statement as it held its 2026 CEO investor day in Seoul on Wednesday, adding that it was also targeting "white spaces" where its brand is underrepresented today.
"These segments account for roughly 29% of all automotive sales, highlighting significant opportunities for growth."
Shares of Hyundai Motor were 3.3% lower after the announcements, lagging a 1.3% rise in the broader market, as it maintained a shareholder return ratio of at least 35% of its net profit.
HYBRID EXPANSION
Hyundai said it would add 1.27 million units of new global capacity by 2030, including 500,000 units in North America.
"Our fundamentals have never been stronger," CEO Jose Munoz said, pointing to Hyundai Motor Group's global position.
Hyundai Motor, together with affiliate Kia, is the world's third-largest automaker by sales.
It plans to introduce 10 hybrid models in North America by 2030 and the company said hybrids would reach half of regional sales there.
The push comes as higher gasoline prices linked to the Iran war have strengthened demand for fuel-efficient vehicles, particularly hybrids.
Some 56% of U.S. car shoppers said rising gasoline prices made them more likely to consider a hybrid, according to Cox Automotive data, while hybrid sales rose 19% in the first half of 2026, according to Omdia. Hyundai's hybrid sales climbed 71% in the second quarter.
However, Hyundai's U.S. expansion also faces trade policy risk from the ongoing review of the U.S.-Mexico-Canada Agreement (USMCA), which governs duty-free access for vehicles and parts moving across North America.
U.S. officials have declined to extend the agreement automatically, raising the prospect of annual reviews and less certainty for capital-intensive investment plans that depend on cross-border supply chains.
ROBOTICS
Hyundai also outlined plans to broaden its businesses, including robotics, autonomous driving and robotaxis.
It said deliveries of IONIQ 5 vehicles to Alphabet's Waymo for use as robotaxis would begin in the fourth quarter of 2026. Hyundai's Motional venture is also due to launch driverless commercial services later this year, initially in Las Vegas.
The automaker said it would begin U.S. production of robots in 2028, targeting annual capacity of 30,000 units. It plans to deploy Boston Dynamics' Atlas humanoid robot at its Georgia Metaplant from 2028.
Hyundai is testing how humanoid robots could be used in car production at a facility in Georgia that replicates factory floor conditions.
Hyundai said it would raise its 2030 consolidated operating margin target from the 8%-9% range previously forecast to above 9%, while keeping its 2026 margin guidance at 6.3%-7.3%.
Hyundai also reaffirmed a target of 5.55 million global vehicle sales by 2030, equivalent to a 6% market share, and said electrified vehicles would account for 60% of sales by then, compared with 23% in 2025.
($1 = 1,384.8000 won)
Reporting by Heekyong Yang, Heejin Kim and Joyce Lee; Editing by Ed Davies, Lincoln Feast and Thomas Derpinghaus
Source: Reuters