Hyundai to increase global capacity by 1.2 million vehicles by 2030

Core Viewpoint - Hyundai Motor Company plans to expand its global annual production capacity by 1.2 million units by 2030, driven by an accelerated localization strategy and a response to regional demand shifts and import tariffs [1][2][4]. Group 1: Production Capacity Expansion - The company aims to increase its global production capacity by 1.2 million units by 2030 [1][4]. - New production hubs will be established in India, Saudi Arabia, and Vietnam, while the Hyundai Motor Group Metaplant America will ramp up to full capacity by the end of the decade [3][4]. Group 2: Localization Strategy - The increased capacity is part of an accelerated localization strategy to address recent import tariffs in the US and to cater to diverging regional demands amid a global shift to electrification [2][4]. - The CEO emphasized the importance of producing vehicles closer to customers to turn trade challenges into structural advantages [4]. Group 3: Product Launches and Investments - In China, Hyundai plans to launch 20 new models over the next five years, aiming to double annual sales to 500,000 units [5]. - The company is investing US$ 5 billion in India, with plans to launch 26 new models by 2030, including a locally engineered battery-powered SUV by 2027 [5]. - Hyundai will introduce extended range electric vehicles (EREVs) with a driving range of over 600 miles in North America by 2027 [4].