Hyundai Motor targets 30% rise in sales by 2030 as it doubles hybrid lineup
SEOUL -Hyundai Motor said on Wednesday it was targeting annual global sales of 5.55 million vehicles by 2030, up 30% from 2023, as it plans to double its hybrid lineup to counter a slowdown in global electric vehicle demand.), the world's No. 3 automaker by sales along with affiliate Kia Corp, also said it would buy back up to 4 trillion won of stock between 2025 and 2027 and boost its dividends significantly as it laid out its medium- to long-term strategy at an investor day.
The company also said it aimed to introduce extended-range electric vehicle models in North America and China, and planned mass production of new EREVs in the regions by end-2026.) have delayed or cancelled new EVs to avoid spending heavily on models that consumers are not buying as quickly as anticipated.
Hyundai said last month that the profitability of its hybrid models was similar to that of gasoline cars, highlighting the segment's growing contribution to its bottom line. Its sales of pure EVs dropped by nearly 25% in the second quarter this year from the same period of 2023.
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