Hyundai Motor unveils investment, shareholder return plans

Courtesy of Hyundai Motor Co.

By Park Je-wan and Han Yubin

South Korean automaker Hyundai Motor Co. on Wednesday unveiled a string of measures to boost its presence and shareholder value.

The company held its 2024 CEO Investor Day in Yeouido, Seoul, and introduced a value-up program, which involves increasing its dividend by 25 percent and initiating a share buyback worth 4 trillion won ($2.9 billion) starting in 2025.

Under its mid-to-long-term strategy, Hyundai Motor will spend 120.5 trillion won over the next 10 years, establishing itself as a leading global mobility company.

The strategy involves a two-pronged approach to vehicle development and production: bolstering its hybrid vehicle offerings while simultaneously advancing its electrification efforts, including in-house battery development.

Hyundai Motor plans to introduce hybrid electric vehicles (HEVs) across all Genesis models, except for the fully electric.

Beginning in 2027, the company will launch an extended-range electric vehicle (EREV) with a 900-kilometer range in North America and China.

By 2030, Hyundai Motor aims to sell 5.55 million vehicles worldwide and introduce 21 new all-electric models. It has maintained its target sales of 2 million EVs by 2030.

In terms of battery development, Hyundai Motor is focusing on boosting its battery production capabilities. The company plans to develop its own entry-level batteries of lithium nickel manganese cobalt oxide, or NMC, by 2030.