Discloses Updated ‘Strategy 2025’
Hyundai Motor Co. announced an updated roadmap for its future business Strategy 2025 at the ‘2020 CEO Investor Day’ forum held virtually in Seoul on Dec. 10
The company's CEO Lee Won-hee and other executives presented a comprehensive strategy to various stakeholders, including shareholders and investors.
The strategy reinforces Hyundai’s plan to lead the future mobility industry as a smart mobility solution provider. It is supported by three key pillars: Smart Mobility Device and Smart Mobility Service—both part of the original plan revealed in 2019—as well as H2 Solution, an addition which reflects Hyundai’s commitment to fuel cell development and commercialization.
The company aims to achieve three major directives: enhancing competitiveness of its automotive business through electrification, establishing a foundation for becoming a leading mobility service and securing initiatives for a hydrogen ecosystem. The updated strategy focuses on four major business areas—EV, urban air mobility (UAM), autonomous driving technologies and hydrogen fuel cell system.
“The year 2020 has been the first year to implement our Strategy 2025. Despite a challenging business environment caused by the COVID-19 global pandemic, we have successfully established the foundation for business growth for the next five years. Hyundai is now equipped with new strategies to respond to the rapidly changing business environment,” said CEO Lee. “Along with our relentless efforts to improve profitability, Hyundai Motor will continue to make mid- to long-term investment to lay the foundation for sustainable growth in the upcoming years.”
At the forum, company executives, including Albert Biermann, president and the head of Hyundai Motor Group R&D Division, gave presentations in each major business area.
Hyundai Motor also unveiled its mid- to long-term financial goals, which include an investment of 60.1 trillion won by 2025, securing an 8 percent operating margin in the automotive sector and achieving a 5 percent range of global automotive market share.