Hyundai aims to double hybrid lineup and boost sales by 30% by 2030.

Hyundai Motor Co. is taking significant steps to diversify its product lineup in response to changing market demands. In addition to reaffirming its commitment to electric vehicles (EVs), the automaker has announced plans to double its hybrid offerings from compact and mid-size cars to include large and luxury models, bringing the total number of hybrids in its lineup to 14.

Despite the global slowdown in EV demand, Hyundai remains firm in its goal to sell 2 million electric vehicles annually by 2030. To address broader market trends and investor expectations, the company unveiled a 4 trillion won ($3 billion) share buyback program and pledged to deliver a minimum annual dividend of 10,000 won per share, aiming for a total shareholder return of 35% from 2025 to 2027.

The market responded positively to Hyundai’s announcements, with shares jumping by as much as 5.5% in Seoul trading. Analysts recognized the company’s strategic moves, including the larger-than-expected share buyback, as exceeding market expectations and enhancing investor confidence.

Recognizing the importance of evolving infrastructure and technological advancements to support EV adoption, Hyundai plans to introduce an extended-range electric vehicle (EV) in North America and China. This new model, capable of traveling more than 900 kilometers (560 miles) on a single charge, aims to address consumer concerns around range anxiety and charging accessibility.

In addition to expanding its hybrid and extended-range EV offerings, Hyundai is investing in hydrogen cars, EV batteries, and future mobility software to position itself as a leader in sustainable transportation solutions. The company’s commitment to innovation and strategic growth initiatives underscores its long-term vision for a more sustainable and environmentally-friendly automotive industry.

As Hyundai navigates the evolving automotive landscape, the company remains focused on meeting customer needs, improving operational efficiency, and driving sustainable growth. By embracing a multi-faceted approach to product development and innovation, Hyundai aims to stay ahead of market trends, strengthen its competitive position, and deliver value to both investors and consumers.