Hot-selling Hyundai has successfully checked off a long to-do list as the mass-market brand and its Genesis luxury stablemate have moved up the sales chart. Higher quality? Check. Better design? Check. More crossovers? Done and done. A fuller premium portfolio? Roger.
Now, Hyundai Motor Co. has a new order of business: mastering electric vehicles.
CEO Jaehoon Chang is so bullish about the company's prospects that he forecasts Hyundai and Genesis global EV sales surging 57 percent to 220,000 vehicles in 2022 from a tally of 140,000 expected this year.
The outlook is part of a newly upgraded internal goal at Hyundai Motor Group to sell 1.7 million EVs in 2026. That revised objective covers the Hyundai, Kia and Genesis brands and represents an ambitious extension of the earlier goal of 1 million worldwide in 2025.