Genesis to focus on hybrids, flagships

HYUNDAI’S recent Investor Day in New York has yielded further insight as to where the giant South Korean manufacturer is heading model-wise over the next half decade.

Hyundai CEO Jose Munoz took the opportunity to explain many aspects of the company’s future plans including a run down on product launches that will focus on electrification and the growth of its Genesis luxury brand.

Mr Munoz said Hyundai has a goal of 5.55 million global sales by 2030 across its Hyundai and Genesis brands with electrified models expected to make up about 60 per cent of that volume, equating to 3.3 million vehicles.

“This isn’t wishful thinking,” said Mr Munoz.

“It is based on approved product launches, planned capacity expansions and market engineering strategies already in motion.”

Mr Munoz said Hyundai’s focus in coming years will be to expand hybrid and EV line-up and add a mid-size pick-up.

“Hybrids and EVs will become a larger part of the Hyundai and Genesis line-ups, with a more balanced powertrain mix ahead,” he emphasised.

“Hyundai will prioritise large crossovers, pickups, light commercial vehicles and high-performance models, segments that deliver higher margins, while offering hybrids, battery-electrics and fuel cells to serve a broad range of customer needs.”

According to Automotive News, Mr Munoz said that includes more than doubling the current hybrid line-up to 18 models by 2030, with Genesis hybrids joining from 2026.

A hybrid version of the three row Palisade large segment SUV due soon, is first cab off the rank with the automaker’s next-generation system.

Hyundai confirmed plans to launch its first mid-size pick-up for North America before 2030, using the compact Santa Cruz as a basis.

The report said Hyundai will pursue region-specific EV models, moving away from a “one size fits all” approach as markets develop at different speeds.

“Launches include the Ioniq 3 for Europe, a locally designed EV for India, and the Elexio compact crossover as well as a compact sedan, both to be built and sold in China,” continued Mr Munoz.

“Hyundai also plans extended-range EVs in 2027 that pair smaller batteries with engine integration to deliver more than 1000km of range.”

It is understood Hyundai’s N performance brand will expand to seven EVs, led by the Ioniq 6 N, with advanced thermal management and sensory engagement features.

With so many new models in the pipeline, Hyundai’s global production capacity is set to grow by 1.2 million vehicles by 2030 many at a new US plant in Georgia called a Metaplant.

The facility was initially scheduled to build six dedicated EVs for Hyundai, Genesis and Kia, but will now produce 10 electric and hybrid models across the three brands, additional production volume will come from Hyundai’s factory in Montgomery, Alabama which builds Hyundai and Genesis vehicles.

Battery innovation (solid state batteries) is tipped to underpin Hyundai’s EV growth with up to 30 per cent lower costs by 2030 from batteries with 15 per cent higher energy density and 15 per cent shorter charging times.

Mr Munoz said that Genesis is ramping up its sales efforts targeting 350,000 annual US sales by the end of the decade with a complete line up of extended-range EVs, hybrids and battery-electric models – including the flagship GV90 crossover, expected next year.

The high-end three-row people mover is based on the Neolun Concept introduced at the 2024 New York motor show.

To achieve its sales targets, Genesis will have a “presence” in every key segment and feature “stronger emotional connections through design and craftsmanship, bespoke personalisation and performance woven into the brand’s DNA”.

A preview of its product vision includes the X Gran Equator off-road concept revealed this year at the New York auto show, the X Gran Coupe Concept and racing-focused Magma variants.

Automotive News reported Mr Munoz as saying the automaker is “keenly focused on the next chapter for Genesis”.

“We will be very intentional in how we grow the brand’s profitability by targeting the right segments, the right technology and the right markets,” he concluded.