Hyundai has published its Strategy 2025 roadmap which sets out its plans to become a 'smart mobility solution provider'.
Under the new roadmap, Hyundai will create two business structures: Smart Mobility Device and Smart Mobility Service.
Smart Mobility Device will see the car manufacturer expand beyond automobiles to offer personal air vehicle (PAV), robotics and last-mile mobility products. Smart Mobility Service will offer customers services linked to vehicles (including maintenance, repair, financing, insurance, and charging) and build an integrated mobility platform that analyses data from in and around the vehicle to offer personalised services.
Hyundai also plans to improve profitability in internal combustion engine (ICE) vehicles and secure leadership in vehicle electrification by selling 670,000 electric vehicles annually (560,000 BEVs and 110,000 fuel-cell electric vehicles). Its goal is to electrify most new models by 2030 in key markets such as Korea, US, China, and Europe, with emerging markets such as India and Brazil following suit by 2035.
The Genesis brand will launch its first fully-electric models in 2021, before expanding its electric line-up in 2024. The high-performance N brand also plans to launch SUVs and EVs, to further boost Hyundai’s competitiveness in electrification.
To achieve the new strategy, Hyundai intends to invest KRW 61.1 trillion (£40 billion) in research and development, and future core technologies between 2020 and 2025. Of this, approximately KRW 20 trillion will be spent on electrification, autonomous driving, AI, robotics, PAV, and new energy.
The strategy was presented by the company’s president and CEO Wonhee Lee during a CEO investor day forum held in Seoul, which was attended by various stakeholders, including shareholders and investors.
Lee said: “The key to our future strategy is to focus on customers and to present the most desirable products and services. We want to offer smart mobility experiences that meet shifting needs of our customers by leveraging advanced technology.
“Transforming into a Smart Mobility Solution Provider with comprehensive mobility solutions that combine devices and services will be the centrepiece of Hyundai’s future strategy.”