Hyundai to build more cars in the US, betting big on new hybrids and trucks, CEO says

Hyundai to build more cars in the US, betting big on new hybrids and trucks, CEO says

Pras Subramanian · Senior Reporter

Wed, August 26, 2026 at 7:59 PM GMT+3 3 min read

Despite strong sales and growing momentum, Hyundai (005380.KS) CEO José Muñoz is going on the offensive in the US.

Hyundai revealed at its 2026 CEO Investor Day today that it will build more of its cars on US soil and pack American showrooms with new hybrids and its first extended-range EV, the centerpiece of Hyundai's most aggressive product push in its history. New trucks and even a midsize Toyota Tacoma competitor are coming too.

Muñoz is betting that localized US production and a wave of in-demand hybrids can lift profits and rev up sales even as the overall US car market sits in neutral.

"Our fundamentals have never been stronger. Hyundai Motor Group is the third-largest automotive group and the second-most profitable, which gives us the ability to invest while others are pulling back," Muñoz said in a presentation. The company is bringing "more than 100 new models to market by 2030 with multiple powertrain options" while "raising our operating margin above 9 percent."

Of particular importance is the upcoming Santa Fe midsize SUV EREV (Extended-Range Electric Vehicle), due in the first half of 2027 and built at Hyundai Motor Manufacturing Alabama. It pairs a battery with an onboard charger for more than 600 miles of range.

Hyundai will also add 500,000 units of annual capacity in North America by 2030, part of a global expansion of 1.27 million units. Hyundai is also lifting its US local-parts sourcing target to 80% from 60%.

Hybrids are the big focus for Muñoz. Hyundai will offer more than 10 hybrid models in North America by 2030, equating to a 50% sales mix, built in Alabama and at Hyundai's plant in Georgia. Muñoz added that cumulative hybrid sales in North America have passed 1 million units.

The push follows a record first half of 595,457 units sold in North America, the best in the region's history, with US sales up 3% to 489,656, led by the Tucson and Palisade. The all-new Tucson and Tucson Hybrid arrive in the fourth quarter.

Hyundai is also going after what it calls "white spaces" — underrepresented segments that make up nearly 30% of all auto sales. Of note are body-on-frame trucks, including a midsize pickup, and light commercial vehicles — a move that would pit Hyundai directly against pickup stalwarts such as Ford (F), General Motors (GM), and Toyota (TM).

While trucks are a brutally competitive segment in the US, rivals know that counting out Hyundai and sister brand Kia would be a mistake.

The US plan is one part of a global blitz of more than 100 new and refreshed vehicles by 2030, including 58 in North America, 49 in Korea, 41 in Europe, 26 in India, and 22 in China, with seven due in the next eight months alone. First out are the all-new Elantra, IONIQ 3 EV, Tucson, and Santa Fe EREV.

Muñoz reaffirmed a 2030 goal of 5.55 million global sales and a 6% market share, with electrified vehicles reaching 60% of the mix, up from 23% in 2025.

Guidance-wise, Hyundai raised its 2030 operating margin target to above 9%, from a prior 8% to 9%, helped by a 3 percentage point cut to its cost-of-sales ratio. Hyundai maintained 2026 operating margin guidance of 6.3% to 7.3%, versus 6.2% in 2025.

Correction: A previous version of this article misnamed José Muñoz. We regret the error.

Pras Subramanian is Lead Auto Reporter for Yahoo Finance. You can follow him on X and on Instagram.

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