From the U.S. to Europe, China, and India, Hyundai charts a balanced roadmap to counter Chinese EVs and scale faster.
18 Sep 2025 | 3977 Views | By Ketan Thakkar & Akbar Merchant
Hyundai Motor Company is sharpening its global playbook with a diversified plan to counter Chinese competition and scale faster in new growth markets — and India is emerging as one of its most important hubs in this strategy.
At the 2025 CEO Investor Day in New York, Hyundai reaffirmed ...
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Hyundai Motor Company is sharpening its global playbook with a diversified plan to counter Chinese competition and scale faster in new growth markets — and India is emerging as one of its most important hubs in this strategy.
At the 2025 CEO Investor Day in New York, Hyundai reaffirmed its target of 5.55 million global sales by 2030, with 60% coming from electrified vehicles. While North America remains the most significant revenue driver, CEO Jose Munoz underscored that the automaker’s future growth will come from a balanced portfolio across regions, including Korea, Europe, India, and emerging markets.
India: Profitability and Scale
In an investor Q&A, Munoz stressed that India is not only a scale market but also a highly profitable one for Hyundai. “In India, most OEMs struggle because it’s a competitive market. We are one of the most profitable companies in India, with much better profitability than the leaders. We remain number two,” he said.
Hyundai currently commands around 15% of India's market share and is expanding its presence through a new Pune plant. Opening later this year, the facility will eventually add 250,000 units of capacity, taking Hyundai’s total Indian production beyond one million units annually.
“India is important for domestic markets, where we hold about a 15% share, and export markets. All regions and heads of the area want to get products from India because they are of high quality and very competitive,” Munoz noted.
India is also central to Hyundai’s EV roadmap. The company confirmed launching the country’s first EV explicitly designed for Indian drivers, backed by a localized supply chain. This ties into its broader global plan of achieving 3.3 million electrified sales by 2030.
North America: Still the Engine of Growth
North America remains Hyundai’s most profitable and strategically important region, contributing 30% of global volume and nearly 40% of revenue. Munoz said the U.S. would remain Hyundai’s “engine of growth” with a mix shift toward SUVs, hybrids, and EVs. By 2030, over 80% of Hyundai’s U.S. sales will be produced locally, with supply chain content rising from 60% to 80%. To ensure competitiveness, the $26 billion U.S. investment plan also includes a robotics hub and a low-carbon steel plant.
Europe: Battling Chinese EVs with Entry Models
In Europe, Hyundai focuses on entry-level EVs to stay competitive against aggressive Chinese entrants. Munoz pointed to the IONIQ 3, revealed at the Munich IAA show, as a model designed to win share in the mass-market EV space. “We are one of the most profitable brands in Europe and still maintaining and growing share in an environment where most of our competitors are losing because of the Chinese,” he told investors.
China: Resetting With Local Partners
After years of losses, Hyundai is attempting a turnaround in China. The company is doubling down on its partnership with Beijing Auto and is shifting to a “develop in China for China” model, with localized products, technology, and costs. Munoz also confirmed Hyundai would capitalize on its existing Chinese capacity to export to “China-friendly” markets, alongside new EV launches such as the Elexio SUV and a C-segment electric sedan.
Asia-Pacific: Pickups and New Hubs
In the Asia-Pacific region, Hyundai sees growth through pickups and light commercial vehicles, especially in Australia and Southeast Asia, markets where the brand has limited presence. The company also highlighted its Indonesian assembly and battery investments, positioning the country as a technology and scale hub for the region.
Korea: Holding Steady Amid Decline
Hyundai expects Korea’s overall vehicle demand to shrink, but it plans to hold volumes steady by leveraging its strength in commercial vehicles. With EV adoption accelerating, Korea will also majorly contribute to Hyundai’s global electrification targets.
A Diversified Bet on the Future
For Hyundai, balancing growth across North America, Europe, Korea, China, and India is a hedge against the intensifying challenge from Chinese EV makers. Munoz said Hyundai’s diversified footprint — with India as a profitable and export-ready pillar — would allow the automaker to “scale faster, respond smarter, and build a truly agile global business”.