Hyundai Motor Unveils New 'Hyundai Way' Strategy and Outlines Mid- to Long-Term Goals at 2024 CEO Investor Day

…    Targeting 5.55 million annual global sales by 2030, up 30% from 2023

…    Aiming to sell 2 million EVs per year globally by 2030

…    Plan to introduce new EREV models, a new type of EV with a range of more than 900 km on a single charge, in North America and China

…    Aiming to offer a full lineup of 21 EV models by 2030, ranging from affordable to luxury and high-performance

…    Plans to expand HEV offerings to 14 models from the current seven; Genesis luxury brand will also offer hybrid models

SEOUL, South Korea, Aug. 28, 2024 /PRNewswire/ -- Hyundai Motor Company hosted its 2024 CEO Investor Day today, unveiling its new mid- to long-term strategy, the 'Hyundai Way'. 

At the event, the company disclosed its commitment to enhancing its electric vehicle (EV) and hybrid competitiveness, advancing its battery and autonomous vehicle technologies, and expanding its vision as an energy mobilizer, responding to the market environment flexibly with its dynamic capabilities.

"Under the Hyundai Way, we will respond to the market with agility thanks to Hyundai's unique flexible response system. This will secure sustainable leadership in an uncertain market environment and strategically position the company to create a future centered on mobility and energy," said Jaehoon Chang, President and CEO of Hyundai Motor Company. "Hyundai will strengthen its position as a game changer by expanding beyond vehicle manufacturing to various forms of mobility. By enhancing the role of energy business operators and realizing a hydrogen society, we intend to transform into a company that can maintain global top-tier leadership in the era of energy transition."  

In 2024, Hyundai Motor secured its profitability and EV competitiveness in the market. These achievements were recognized by global rating agencies as the company earned an 'A-grade' credit rating from major global credit rating agencies. Moreover, with a global sales annual volume of 4.21 million units in 2023, Hyundai Motor helped Hyundai Motor Group to become one of the top three automakers globally.

'Hyundai Way' Detailed Strategies & Targets

'Hyundai Way' Detailed Strategies

Sales & Financial Targets

â—‹ Hyundai Dynamic Capabilities

‒ Expand hybrid lineup from 7 to 14 models (incl Genesis)

‒ New EREV to serve as key bridge to full electrification

‒ Full EV lineup of 21 models by 2030

‒ Develop new affordable NCM battery & safety tech

 

â—‹ Mobility Game Changer

‒ Autonomous vehicle foundry business

‒ Next-generation infotainment system & open ecosystem

‒ Reveal SDV Pace Car equipped with High-Performance
Vehicle Computer (HPVC) architecture in 2026

 

â—‹ Energy Mobilizer

‒ Expand the HTWO fuel cell system lineup

‒ Clean logistics business starting with HMGMA

 

â—‹ Global Sales Targets

‒ 5.55 million units by 2030

‒ 2 million EV sales by 2030

 

â—‹ Mid-to long-term Investment Plans

‒ Total: KRW 120.5 trillion (2024 ~ 2033)

â–² R&D KRW 54.5 trillion

â–² CAPEX KRW 51.6 trillion

â–² Strategic Investment KRW 14.4 trillion

 

â—‹ Profitability Target

‒ 2030 OP margin over 10% (consolidated basis)

 

â—‹ Expanding Shareholder Return Policy

‒ 2024 annual dividend: min. KRW 10,000

‒ 2025 – 2027

New total shareholder return (TSR) concept: 35%+

Target annual average ROE 11 ~ 12%

Quarterly dividend of KRW 2,500

 

More information about Hyundai Motor and its products can be found at: https://www.hyundai.com/worldwide/en/ or Newsroom: Media Hub by Hyundai 

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Hyundai Motor Unveils New 'Hyundai Way' Strategy and Outlines Mid- to Long-Term Goals at 2024 CEO Investor Day

RIYADH, Saudi Arabia, Sept. 14, 2024 /PRNewswire/ -- Leading-edge artificial intelligence algorithms are now powering production at nearly half of VSPO's esports tournaments, dramatically reducing content creation time and enhancing fan engagement, said the company's co-founder Danny Tang at the New Global Sport Conference 2024 ("NGSC") in Riyadh this August.

At a panel discussion with other industry leaders including Ahmad Alabduljabbar, Craig Levine, Jean Mariotte, Penny Diao and Shay Segev, Tang said nearly half of the esports tournaments VSPO produces are now leveraging AI to assist key production tasks such as live highlights capturing and post-game replay editing, markedly boosting the efficiency and agility of the company's tournament operations.

VSPO, Asia's biggest esports company, organizes and produces more than 80 tournaments and 7,000 matches every year, captivating an online fan base of over 800 million.

"Over the past couple years, we have developed a lot of AI tools to allow us to better produce esports tournament content in a much more efficient manner," said Tang, who is also VSPO's CFO and head of global strategy office, "For example, our 'AICam' now allows us to turn hours of game footage into viral social media content in mere seconds."

As the leading conference for the Esports World Cup Foundation, the NGSC 2024 hosted a global delegation of over 1,200 industry thought-leaders at the Kingdom Centre on August 24-25.

At the event, Tang introduced VSPO's two proprietary AI tools, "AIOB" and "AICam", which have been instrumental in streamlining esports production process. AIOB, an algorithm trained on extensive tournament data, assists directors in identifying and broadcasting the most thrilling moments in real time. AICam, on the other hand, automates the selection and editing of highlights, turning them into viral video clips with unprecedented speed and precision.

Another VSPO's key AI project Tang shared was VSPO's partnership with Qualcomm on the Snapdragon "Faith of Victory" initiative, an esports athlete emotion detection system capable of providing real-time insights into an athlete's state of emotions by studying their facial expressions and heart rates. The AI system has been trained with data from 175 professional players across 18 top teams in the King Pro League, and VSPO continues to refine it for improved performance on a frequent basis.

Furthermore, Tang said that VSPO is also in the process of integrating its proprietary AI technologies into its signature, award-winning "4K OB Truck," a patented mobile production unit designed for on-the-go creation and broadcasting of top-tier esports events.

This innovative vehicle was a standout feature at the Hangzhou Asian Games last year, where esports was recognized as a medal sport for the first time, as a significant portion of the esports series was produced using VSPO's "4K OB Truck," showcasing its capabilities on an international stage.

About VSPO
With a global presence encompassing 14 office locations and eight top-tier esports arenas, VSPO offers a comprehensive suite of esports services, including tournament organization, marketing solutions, community development, and more.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

VSPO Co-founder Danny Tang: Half of VSPO's Esports Tournaments Now Assisted By AI