Hyundai is accelerating its efforts to become a full-range automaker in North America by expanding local production, increasing purchases in the United States, and expanding its lineup across various vehicle segments, according to Automotive News.
At the annual meeting of Hyundai Motor Co., held on March 26 in South Korea, CEO Jose Munoz said that by 2030, the company plans to produce 80% of the cars it sells in the United States in local factories, as well as assemble these cars using about 80% of the components from the American supply chain. Hyundai said about 60% of its parts are currently purchased in the United States, and expanding local production is expected to reduce the impact of duties and disruptions in the supply chain, after Hyundai and Kia said the cost of duties in 2025 will reach $ 5 billion. To support this strategy, Hyundai is investing $26 billion in the United States and plans to introduce 36 new or significantly improved models in North America by 2030, including passenger cars, SUVs, trucks, and commercial vehicles, as well as new trim levels such as the XRT and N Performance.
Munoz also noted that Hyundai will expand its range of powertrains by offering more models with internal combustion engines, hybrid and electric vehicles, including its first electric vehicle with an increased power reserve. Although Hyundai has not confirmed specific new models, the text talks about possible pickups, commercial vans, SUVs, and sports cars as dealers prepare for a broader and more diversified product campaign.
