Its ‘strategy 2025’ roadmap will foster Smart Mobility Device and Smart Mobility Service as two core business pillars.
Hyundai Motor Company has announced a bold roadmap to secure its position as a frontrunner in the future mobility industry. Under the new roadmap, named ‘Strategy 2025’, the company will foster Smart Mobility Device and Smart Mobility Service as two core business pillars, aiming to secure leadership in electrification by selling 670,000 electric vehicles annually and become one of the world’s top three manufacturers of battery and fuel cell EVs by 2025.
The company is also targeting an operating margin of 8% in its automotive business and aiming for a 5% share of the global vehicle market.
The Smart Mobility Device business will supply products optimized for the services and lay the groundwork to help foster the service business. On the other hand, the Smart Mobility Service business will provide personalized contents and services on the devices to help secure a broader customer base. Hyundai’s plans for Smart Mobility Device include a wide range of product groups beyond automobiles such as Personal Air Vehicle (PAV), robotics, and last-mile mobility. Hyundai will reinforce its manufacturing capabilities to build products that offer customers a seamless mobility experience.
“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,” said President Lee.
To materialize ‘Strategy 2025’ on the Device side, Hyundai will aim for growth that is balanced and steady, seeking balance between markets as well as models while prioritizing long-term sustainability over short-term targets.
On the Smart Mobility Service side, the company will aim for a business model that combines product and service and launch an integrated mobility platform to offer customers personalized contents and services.